Blits Wallet Integrates Harmony Staking
Blits Labs is excited to announce the integration of Harmony Staking into the Blits Wallet. With this integration, users will have a native mobile interface to stake ONE tokens in a non-custodial and trustless way.
Harmony staking has been one of the most requested features through our social media. We were already working on integrating this feature into the wallet, when we found a poll on Twitter that showed staking as one of the things that most excites the Harmony community. In this way, we decided to show some screenshots of the progress that we had with the integration in the Blits Wallet and thus be able to receive feedback and suggestions from the community.
We received some comments that provided us with feedback on functionality that could improve the User Experience when staking Harmony from the wallet. Some functionality such as adding a search box to the list of validators, as well as showing the list of inactive validators helped us to improve the interface; however, other suggestions such as reducing the minimum amount required to send a staking transaction, or reducing the number of epochs required to undelegate from 7 to 1 epoch, could not be added or integrated into the wallet, since these are rules established directly in the Harmony protocol, and that could only be changed by governance in the base protocol. As the validator “Validator.ONE” mentioned, if any of the community members want to propose any of these changes, they can do so at https://talk.harmony.one/c/governance/33 .
Harmony Mobile Staking
Validators
From this screen, users will be able to see the list of all validators (both active and inactive). To facilitate the search, a search input was added that allows filtering the results, and the active and inactive validators were separated into different lists. Likewise, it is possible to view important data for each of the validators, such as the name of the validator, its estimated APR, the total stake, the fees charged by the validator, as well as the uptime percentage. This data will allow users to make a more informed decision on which validator to select to delegate their tokens.
Validator Details
By selecting a validator from the list, the application will direct the user to a screen where they can view all the most important details of the validator, allowing them to make a more informed decision. Likewise, two buttons will be displayed: Delegate and Undelegate, which the user can select to go to either of the two screens to execute the corresponding functions.
Delegate
Once a validator has been selected from the previous screen, the user will be able to delegate tokens from the Delegate screen. In this screen, the user will be able to see their total available balance (in shard 0), as well as the name and address of the selected validator to make sure they have selected the correct validator. When entering the number of tokens to delegate, an estimate of the possible earnings that can be obtained per day, month, and year is shown.
To delegate tokens, the user must enter an amount greater than 1,000 tokens, since this is the minimum amount required by the Harmony network, and press the Delegate button. Doing so will take the user to a PIN confirmation screen for security. After entering the PIN correctly, the transaction will be executed and the tokens will be sent to be delegated to the selected validator.
Undelegate
Upon entering the Undelegate screen, the user will be able to view the number of tokens that are currently delegated to the selected validator. Likewise, the name and address of the validator will be displayed. By pressing the Undelegate button, the application will take the user to a confirmation screen of their PIN for security reasons, and once correctly entered, a transaction will be executed to undelegate the number of tokens entered. As with the delegate function, the minimum possible amount is 1,000 ONE tokens since this rule is established directly in the Harmony network, and it is not something that can be modified from the mobile interface of the wallet.
Portfolio
Last but not least, the Portfolio screen allows users to view the total delegated tokens, the total tokens pending undelegate, as well as the total amount of rewards obtained.
Below this data, a list will be displayed with all the user’s staking delegations, being able to view the total delegated, the rewards obtained with the validator, as well as the APR.
The user can then view the pending undelegations, which are pending requests to undelegate tokens from a validator. When making an undelegate request, it will take 7 epochs for the request to be confirmed and the tokens to be available in the user’s account. Currently, this translates to approximately 10.5 days for the undelegation to be confirmed.
For more information on this topic we recommend the following video:
Collect Rewards
Within the Portfolio screen, the user will see a button that will allow him to claim the profits obtained by the tokens delegated to the validators if he has profits obtained up to that moment. By pressing the button, the application will take the user to a confirmation screen of the PIN for security reasons, and after entering it correctly, a transaction will be executed to claim the rewards obtained. Once the transaction is confirmed, the earned tokens will be available in the user’s account.
Download the Wallet
Download the wallet and start staking Harmony (ONE) from your phone:
Android: http://bit.ly/3nhvArJETH
