Livepeer Delegation Tutorial

Simple Staking Tutorial by Stake Capital

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Welcome to this simple Livepeer Delegation Tutorial. You will need:

  • access to your Ethereum address holding your Livepeer token.
  • approximately 0.0035 ETH (~$0.6) to execute 2 transactions at “10 Gwei” each. These values will fluctuate with network congestion and ether price.
  • 5 minutes of your time.

Introduction on Livepeer and Staking

Stake Capital is proud to be one of Livepeer’s transcoders. Token holders who also want to participate in the Livepeer economy without running their own infrastructure can do so by bonding their tokens to a transcoder, and earn a share of the generated rewards. The transcoders with the most tokens bonded to them will have more transcoding work directed to them, and the delegators stand to earn more tokens as well.

Stake Capital charges a market leading 1% fee on the realised yield, and returns 99% of the rewards to its delegators. In addition, Stake Capital shares 50% of the earnings received from transcoding work to its delegators. (Refer to FAQ below for more info).

Step 0: Withdraw your Livepeer Tokens

If you are setting up your wallet for the first time, we recommend using Metamask.io (they have an excellent video tutorial on their website).

Step 1: Visit Stake Capital’s transcoder page

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You should see a BOND button as well, as shown in the picture above. The BOND button will only load if you have unlocked your metamask extension. Note: If you have a hardware wallet, you can import your account in metamask as well.

Click the BOND button to initiate the delegation process.

Step 2: Update your allowance

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On Chrome Browser:

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1) Enter the desired transfer allowance. 2) Click on submit. 3) Click on metamask icon (top right of browser) and before confirming the transaction, click on EDIT. 4) This will preview the estimated processing time due to current network congestion— choose one that suits you. 5) Click on Save 6) Click on Confirm

On Brave Browser:

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1) Enter the desired transfer allowance. 2) Click on submit. 3) Click on Metamask icon (top right of browser) and before confirming the transaction, click on EDIT. 4) By default, Metamask inputs a low Gas price, here it is 1. Go on https://ethgasstation.info/ and you will see three number (fast — standard — safe) at the top of your screen, and their estimated processing time due to current network congestion — choose one that suits you and change the value in the box next. 5) Click on Save 6) Click on Confirm.

Step 3: Stake your Tokens

Enter the amount of LPT you wish to delegate and click submit, then confirm the transaction from your metamask.

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Click on Submit and confirm the transaction from your Metamask account. CAUTION! Metamask will have reset to a small amount of gas by default on your browser again. Refer to the screenshots on Step 2: Update your allowance, and re-do step 3–4–5 again before confirming the transaction, otherwise, your transaction may take hours to go through!

FAQ

How much can I earn from bonding?

  1. Currently, the expected yield from block rewards is 150%, and we charge a market leading 1% commission. If you bond 1 LPT, you can expect to have approximately 2.485 LPT in 12 months. Note that this rate is not constant, and does fluctuate with the total number of LPT bonded across all delegators.
  2. The fee sharing is harder to predict as it is driven by fees paid to Stake Capital for transcoding videos. These fees are paid in Ether, and we fixed it to 150 Gwei per 4 seconds. We will share 50% of the fees generated from our transcoding activity to our delegators.

How do I view my rewards?

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How can I claim my rewards?

To view and claim your rewards, go to your account page on Livepeer’s explorer.

Are there any risks associated with bonding my tokens?

Livepeer does not currently slash transcoders and delegators can delegate with no risk. When this changes, it will be communicated clearly on their twitter account, and we will also communicate it on our twitter and telegram account.

Can I transfer my bond to another transcoder?

Just like in Step 1, visit Stake Capital’s transcoder page, and click on BOND. If you enter 0 in the box, as shown in the screenshot below, and submit the transaction, your bonded tokens will be transferred to Stake Capital’s transcoder.

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Submitting a bond of 0 LPT will transfer your existing bond to this transcoder.

How can I un-bond my tokens?

If you want to learn more about delegating on Livepeer, please join our Telegram support, where our team will be happy to assist you, or you can read the more in-depth wiki on Delegations from Livepeer.

Focus on what you do best and delegate staking to Stake Capital.

Follow-us on Twitter | Join our Telegram | Smash the clap button

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Stake Capital | StakeDAO

Digital Asset Management through a Decentralised…

Stake Capital | Stake DAO

Written by

Keepers | DeFi Strategies. (SaaS, LP, MM, Arbitrage). Support: http://t.me/StakeCapital + Investments

Stake Capital | StakeDAO

Digital Asset Management through a Decentralised Cooperative (DAO). Medium: http://medium.com/stakecapital Telegram: http://t.me/StakeCapital Dev server: http://discord.gg/CRTUwEM

Stake Capital | Stake DAO

Written by

Keepers | DeFi Strategies. (SaaS, LP, MM, Arbitrage). Support: http://t.me/StakeCapital + Investments

Stake Capital | StakeDAO

Digital Asset Management through a Decentralised Cooperative (DAO). Medium: http://medium.com/stakecapital Telegram: http://t.me/StakeCapital Dev server: http://discord.gg/CRTUwEM

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