STAKING IN CONCORDIUM DESKTOP WALLET

Cumulo
Cumulo.pro
Published in
7 min readJun 28, 2023

Start receiving rewards for your delegated CCDs

How to perform a delegation in Desktop Wallet

Delegation allows you to receive returns on your CCD balance in staking. You can make a delegation to a baker pool, indicating the baker or node you want to delegate to, or you can make a passive delegation, which means that your delegated balance will be distributed among all bakers in proportion to their staking capacity.

To perform a delegation complete the following steps:

1. Open Desktop Wallet, go to Accounts and select the account to which you wish to delegate funds.
2. From the account menu select Delegation:

3. Select the destination of your delegation (a pool of bakers or a passive delegation).

What is the difference?

▪ ️Pool of bakers: you delegate to a specific baker that you will choose by their baker number.
▪️ Passive delegation: you delegate to a pool in which the rewards are managed by the set of active bakers on the blockchain.

A passive delegationapplies 2% more commission than the baker pool.

If you wish to delegate to more than one baker, which improves the decentralisation of the blockchain, you will need to add a new account in the Wallet Desktop, as only one passive delegation per account is allowed.

In case of choosing a specific baker (Passive Delegation) you have to indicate the ID of the baker, for this you can get additional information about the baker nodes at https://ccdscan.io/nodes.

A good tip for choosing your baker is to make sure it has the latest version of the node installed (Client version).

Cumulo is an active member of the Concordium blockchain validator community since its inception. We are a professional, secure and committed validator committed to building blockchain, providing content, resources and support to the community.
If you are interested in delegating with us choose our Baker ID: 82548

4. Enter the baker ID and click Continue:

5. Enter the amount you wish to delegate and choose whether you want to redelegate the rewards received automatically with the Redelegate option. Click Continue:

6. The message: Waiting for device. Please connect your ledger. Connect the Ledger device to the computer and enter your PIN on the Ledger device:

7. Press the right button on the Ledger to navigate to the Concordium application and then press both buttons to open the application. The Ledger will display the text Concordium is ready. Wait for the message Ledger Nano S is ready or Ledger Nano S Plus is ready in Desktop Wallet and select Submit.

8. On the Ledger device, a Review transaction message appears.

▪️ Verify that the sender account is correct and navigate to the right.
▪️ ️Verify that the Ledger shows the correct amount to delegate and navigate to the right.
▪️ Verify that the redelegation preference is correct and navigate to the right.
▪️ Verify that the delegation destination is correct and navigate to the right.

9. The Ledger device will prompt Sign transaction. Press both buttons to sign the transaction. The Ledger device will display Concordium is ready.

10. In Desktop Wallet, you can see that the transaction has been sent to the chain. Select Finish:

You have completed the delegation of CCD, in a few moments you will be able to see the new balance in your Desktop Wallet with the delegated staking amount:

How to modify a delegation

You can change the delegation balance, target and preferences of an account. It is not necessary to change all options. For example, you may only want to change whether rewards are staked again or not.

If you increase the delegation, the new amount will be applied at the start of the next payday (payday is every 24 hours at 08:00 UTC). However, if you decrease the delegation, there is a cool-down period before the new stake is applied (the duration of the cool-down period is two weeks). During this period, you cannot stop the delegation or change the amount, but you can change other delegation settings. After the cool-down period, the amount by which you decreased the delegation is returned to your available balance.

To change the delegation preferences:

  1. Go to Accounts and select the account on which you want to change your delegation preferences.
  2. Scroll down the menu to Delegation and then select Update Delegation.

3. You can modify the option to delegate to a pool or passive delegation, to which you want to delegate your CCDs. Click Continue.

4. Enter the new amount you wish to re-delegate and choose whether the rewards should be re-delegated automatically or not, in the Redelegate option. Click Continue.

5. A message will indicate Waiting for device. Please connect your Ledger. Connect the Ledger device to the computer and enter your PIN on the Ledger device.

6. Press the right button to navigate to the Concordium application and then press both buttons to open the application. The Ledger will indicate Concordium is ready.

Wait for the message Ledger Nano S is ready or Ledger Nano S Plus is ready in Desktop Wallet and select Submit.

7. On the Ledger device, a message with the text Review transaction appears. Only the parameters you have changed are displayed. Navigate to the right to verify each parameter change, until you reach the Sign transaction message. Press both buttons to sign the transaction. The Ledger device will display the text Concordium is ready.

8. In Desktop Wallet, you can see that the transaction has been sent to the chain. Click Finish.

Once the transaction is completed, the delegation update takes effect from the next payment day for most transactions, except in the case of reducing your shareholding.

Remove a delegation

You can remove delegation on an account to stop delegating.
If you remove delegation, there is a cool-down period before delegation stops. During this period, you continue to earn rewards; you cannot change the amount of delegation, but you can change other delegation settings.

The delegation stop does not take effect until the next payday after the cool-down period ends. At that time, the amount you delegated is returned to your available balance.

  1. Go to Accounts and select the account for which you want to change your delegation preferences.
  2. Scroll down the menu to Delegation and then select Remove Delegation.

3. Review the cool-down period. Click Continue.

4. A message will indicate Waiting for device. Please connect your Ledger. Connect the Ledger device to the computer and enter your PIN on the Ledger device.

5. Right-click to navigate to the Concordium application and then press both buttons to open the application. The Ledger will display the text Concordium is ready.

Wait for the message Ledger Nano S is ready or Ledger Nano S Plus is ready in Desktop Wallet and select Submit.

6. On the Ledger device, a message will indicate Review transaction, navigate right to the Stop delegation message, navigate right again to confirm the transaction.

7. The Ledger device will display Sign transaction. Press both buttons to sign the transaction. The Ledger will display Concordium is ready.

8. In Desktop Wallet, you can see that the transaction has been sent to the chain. Click Finish.

Deleting your participation in any pool results in a longer recovery period. The delegation balance will be locked during this period and cannot be increased or decreased; you will still be able to change targets or resume preferences during the cool-down. The interruption of the delegation does not take effect until the next payday after the end of the cool-down period. During the cool-down period, the amount staked continues to earn rewards.

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