Neblio Cold Staking with the Orion Web Wallet
Portable & Secure. Desktop & Mobile. The Ultimate NEBL Staking Setup.
Note: At the time of publication, Neblio Cold Staking is currently active and undergoing testing on the Neblio Testnet. M̶a̶i̶n̶n̶e̶t̶ ̶a̶c̶t̶i̶v̶a̶t̶i̶o̶n̶ ̶w̶i̶l̶l̶ ̶o̶c̶c̶u̶r̶ ̶a̶t̶ ̶b̶l̶o̶c̶k̶ ̶h̶e̶i̶g̶h̶t̶ ̶2̶7̶3̶0̶4̶5̶0̶.̶ Mainnet activation occurred successfully at block height 2730450 on 15 Feb 2021. Cold staking is now active on testnet and mainnet.
The Ultimate NEBL Staking Setup?
If you aren’t familiar with Neblio Cold Staking, read about that announcement first.
Neblio Orion is a Neblio web wallet that supports NEBL, NTP1 Tokens, and now Cold Staking!
Orion is the easiest Neblio wallet to use because there is no blockchain to sync, no wallet.dat file to backup, and no app to download since Orion lives in your browser!
Neblio Orion Benefits:
- Your wallet is protected by a 12-word seed phrase. No manual wallet.dat backups required. Wallet can be restored on any device using only the 12-word phrase.
- No app download.
- Works in any browser on Windows, Mac, Linux, Android & iOS.
- Can be installed as a native application on Android & iOS.
- Supports NEBL & All NTP1 Tokens
- New: Cold Staking Support!
With Neblio Orion + neblio-Qt running on a home computer, or Raspberry Pi to Cold Stake, you can securely store your NEBL, take it anywhere on your phone, and spend it at any time, while still receiving stake rewards! The Ultimate NEBL Staking Setup!
How To Setup Cold Staking with Orion
We’ll walk through setting up both Orion and neblio-Qt in this example.
Step 1: Create a Neblio Orion Wallet
Navigate to https://orion.nebl.io if you do not already have an Orion wallet created in this browser, your first one will be created for you after you accept the Terms of Service. If you have not yet backed up your new wallet, it MUST be backed up, by writing down and confirming the 12-word seed phrase. Keep this seed phrase in a secure place, if you lose it, you lose your wallet!
Once your Orion wallet is ready, click “Receive” in the bottom left and note down your wallet’s address. This is the Owner Address. We’ll need this address for upcoming steps.
Step 2: Create a neblio-Qt Cold Staking Wallet
Now we create a new neblio-Qt wallet that will Cold Stake the NEBL stored in our Orion wallet. The neblio-Qt wallet will not be able to spend the NEBL it is Cold Staking, only Orion can spend the NEBL.
Download neblio-Qt for your OS from https://nebl.io/wallets start it, and let it complete its initial sync.
It is recommended to create a new “Staker Address” in the Staking Wallet (neblio-Qt). Note: A “Staker Address” is the same as any other Neblio address, but having a separate address just for receiving cold staking delegations helps keep things organized. This address can be re-used for receiving all future cold staking delegations, if desired.
Step 3: Send Any NEBL You Want to Cold Stake to neblio-Qt
neblio-Qt is where NEBL is “delegated” to a Cold Staking Smart Contract, so any NEBL you want to Cold Stake must first be sent to our neblio-Qt Staking Wallet. The NEBL can be sent to any address in the wallet, including the “Staking Address” from Step 2.
Step 4: Create the Cold Staking Delegation from neblio-Qt
Navigate to the new “Cold-Staking” tab in neblio-Qt. This tab will show all active Cold Staking delegations. To create a new Cold Staking Delegation, click on the “Snowflake+” button in the top-right of this tab.
- Insert the “Staker Address” from Step 2
- Insert the Amount of NEBL you would like to Cold Stake, normally this will be 100% of the NEBL sent to neblio-Qt in Step 3.
- Check the “Manually Specify Owner Address” box and insert the Neblio Orion Wallet Address from Step 1 as the “Owner Address”.
- Click “Create”, double check the addresses, confirm the warnings, and accept the Neblio Blockchain fees to create the Cold Staking Delegation Smart Contract.
Step 5: Enable Cold Staking Delegation on Staking Wallet (neblio-Qt)
Navigate to the new “Cold-Staking” tab on the Staking Wallet (neblio-Qt). Find the Cold Staking Delegation that was just created in the list, you will notice the status says “Staking disabled.” Right Click on the Delegation and then click “Enable staking for this address.”
That’s it! 24 hours after the NEBL mature they will begin Cold Staking in neblio-Qt and the rewards will show up in Neblio Orion!
If your phone/laptop breaks or is stolen, your Orion wallet can always be recovered on any device via your 12-word seed phrase. If your Cold Staking wallet is compromised in any way, your NEBL is safe as the Cold Staking wallet can never spend the NEBL!
Orion Cold Staking Tips
- The same Orion wallet can be used on both Desktop & Mobile, create the wallet on one and use the 12-word seed phrase to restore the wallet on your other devices. The wallets will be kept in-sync across devices and across browsers.
- Cold Stake rewards in this set up will automatically “compound” and start staking themselves after enough confirmations.
- NEBL sent directly to the Orion Wallet Address will NOT Cold Stake. In order for Cold Staking to work, the NEBL MUST be locked into a Cold Staking Smart Contract using neblio-Qt.
- Spending NEBL from Neblio Orion will immediately break the Cold Staking relationship for that “group” of NEBL. NEBL change should be sent back to neblio-Qt by the user so that a new Cold Staking Delegation can be created for that group, if desired.
Happy Cold Staking!
Neblio is an Enterprise Blockchain Platform focussed on simplifying blockchain technology for business. Neblio’s lightning fast & scalable blockchain, APIs, NTP1 Token Protocol, and unique services offerings allow clients to easily and quickly utilize blockchain and distributed ledger technology to radically improve efficiency, reduce go-to-market time, and dominate their competition.