Nebulasio
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Nebulasio

Tutorial: How to obtain NAX via dStaking

Today, all users with a Nebulas mainnet address can participate in dStaking and in return receive NAX. dStaking will begin at the Nebulas block height of 3,048,000, which is expected to occur on September 11, 2019 at around 9:42:45 p.m. Beijing time. This article will explain how to obtain NAX via pledging Nebulas’ native currency (NAS) on the mainnet.

Pledging NAS to obtain NAX is completed via dStaking and all who pledge NAS will receive NAX at the end of the first pledge cycle (about 25 hours) and thereafter. The minimum pledge amount is 5 NAS which can be changed at any time from the same address. If the pledge is canceled, NAX will not be obtained for the active cycle and thereforth until a pledge is activated once again.

dStaking — decentralized Staking

Under the premise of ensuring that the user’s assets always belongs to the user, the pledge contract agreement which is digitally signed by the user and the pledge contract is recorded via the on-chain smart contract. The pledge smart contract mechanism will randomly check whether the users address is still meeting their contractual requirements as agreed upon during the initial signing. When the balance of the address is greater than or equal to the amount of NAS pledged, the pledge will be considered valid, otherwise the pledge will be canceled. When the user adds NAS to the pledge from the original address, the system will recalculate an average currency age based on the amount of the new pledge. If the pledge is reduced or cancelled, the currency age returns to the initial state.

Prior to completing the steps below, open the latest version of NAS nano Pro. If you do not have the latest version, it can be obtained on the official Nebulas.io website.

Pledging via NAS nano Pro

  1. How to pledge

Users can pledge via the pledge portal located in the official Nebulas mobile wallet. Users who have not created a wallet on NAS nano Pro will first need to create or import a wallet.

(Steps to start a pledge)

From within NAS nano Pro, select the pledge option and click “Start pledge” button; select the wallet you would like to pledge from and enter the pledge quantity (NAS); click “confirm pledge” button; enter your selected wallet password; confirm the pledge and wait for the pledge to be recorded on the chain; your pledge is now successful and active.

2. How to adjust the amount of your pledge from the same pledge address

A pledge can be adjusted at any time from one address without canceling the previous pledge.

(How to adjust your pledge)

From within NAS nano Pro, select the pledge option and click “Start pledge”; select the NAS wallet address you want to adjust the pledge from, enter the adjusted NAS quantity and click “Confirm pledge”; once your adjusted pledge is recorded on-chain, the adjustment of your pledge is now complete.

*Note: When adjusting the pledge NAS quantity, be sure to enter a different value that was previously entered (e.g. higher or lower from the active pledge balance).

3. How to cancel the pledge

(Steps to cancel a pledge)

From within NAS nano Pro, select the pledge option and the wallet that has the active pledge you would like to cancel and click “Cancel pledge”; click “Cancel pledge” and enter the wallet’s password; wait for your cancelation to be recorded on-chain and your pledge will be canceled.

*The data in the above images utilized contract test data and addresses will differ from the active pledge process.

4. How to calculate the pledge cycle and issuance

The starting pledge block height is: 3048000. It is expected to occur on September 11, 2019 at 9:42:45 p.m. Beijing time. The pledge cycle is calculated by block height with one cycle lasting for 6000 blocks (about 25 hours). The number of NAX obtained for each cycle will vary based on multiple variables (more details available in the NAX whitepaper). Users can view NAX distribution details on the pledge section in NAS nano Pro or via the Nebulas web explorer.

NAX adopts a dynamic distribution strategy where the total circulation is related to the global pledge rate and the quantity of NAX obtained by the user per cycle is related to the amount of NAS pledged and the age of the currency.

web-based pledge tutorial

How to check the pledge status of an address

Open the pledge page at https://dstaking.nextdao.io/#/ and enter the wallet address in the input area. Click the Query status button to view the current balance and pledge status of the wallet.

How to pledge NAS

1. Select your pledge method (this tutorial will use the NAS nano method).

2. After clicking “NAS nano”, enter the quantity of NAS you want to pledge, and click “Staking” after confirmation.

3. Open NAS nano Pro on your mobile device and scan the QR code displayed on the web page. Choose the wallet you want to pledge from.

4. After scanning the code, enter your password in the NAS nano Pro and click “Confirm”. The pledge will be recorded on-chain and is completed.

5. After completing the pledge, you can then query it via the web-based method. Simply click “Query” to view the current wallet address pledge status.

How to cancel the pledge

Select the staking type to “NAS nano” and select “Cancel active staking” in the input field. Use NAS nano Pro to scan the generated QR code. Be sure to verify that you select the same wallet address in NAS nano Pro as you entered via the web-page when scanning the QR code.

*The data in the above images utilized contract test data and addresses will differ from the active pledge process.

Disclaimer:

1) For all information about NAX, please refer to relevant announcement published by nextDAO on the official website (nextdao.io);

2) Please be diligent to identify and avoid fake applications, falsified messages, phishing websites, phishing emails, fake customer service, scams, fraud, etc… The nextDAO team will never ask users for their private keys. The nextDAO is not responsible for any loss caused by the user or a third party.

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nebulas.io / Nebulas is a next generation public blockchain, aiming for a continuously improving ecosystem.