ZVChain PoS Staking : Create your Delegation or Join Others | 175 ~250% Stable Block Reward Production.
Delegate Staking allow maximum stable block reward output. User can now establish their own delegation or join available delegation to maximise block reward. Based on a secret random lottery system (VRF), addresses with maximum amount of 2,500,000 staking rights will have the most stable block reward production, that is estimated to be block reward of 175% ~ 250 % for 9 months. Smaller miners are therefore recommended to join in delegations to combine staking rights. To first borrow staking right, you can participate here.
How does it work?
Any user with staking rights can “set up a delegation” or “participate in other delegations” at this activity page.
As a delegate leader, you will be running the miner program for the delegation and receive handling reward fee. Currently, we have MXC, HooPower and more communities running their own delegations.
If you choose to initiate a delegation, you will become a delegate leader :
- Click the button “As a Delegate” at this activity page.
2. Customize the group name and handling fee. This handling fee will be management fee for running the miner program for delegation members. The handling fee will be deducted from the block reward as (1- handling fee) * block reward = total distribution of block reward to delegation members. Genesis Address = Fill in your ZVC address with the staking right and contactable email address.
3. Followed by the KYC process to setup your official delegation, you will see the message “Successful Submission, Manual Audit To Be Reviewed”.
4. Upon approval of KYC information, the delegation is available for others to join.
Note that Smart contract will ensure the fair distribution to the delegation initiator and members. Delegation leaders do have direct access to transfer your staking rights or ZVC away. He is merely responsible for running the miner program for the delegation address. Delegations will not be able to accept any new members, once the maximum limit of 2,500,000 staking rights have been achieved.
If you choose to join other delegates and let the delegation operate the miner program for you, proceed to this activity page:
- Select the available delegations you want to join. You are able to join multiple delegations concurrently.
2. Fill in the amount of staking rights to contribute along with your address to receive the block reward. Genesis address refers to the account that you have borrowed staking right with.
3. Smart contract will facilitate the distribution of block reward within the delegation members.
As a delegate member, if you are unhappy with your delegation leader, ZVChain will attempt to mitigate the situation. If the leader is truly suspected of doing evil, the delegate leader address will stop staking and the respective staking right will be redistributed back to delegation members’s original address.
Can I create my own delegate with staking rights received from the Testnet reward campaign?
Yes! You can. It is recommended that you can create your own delegation with your staking rights, or join other delegation to combine staking power. By being a delegate leader, you can still continue to operate the miner program once mainnet launch. As reward for operating the program for the delegate members, you will receive a handling fee per block reward.
What are the benefits as a delegate member?
Delegate member can join available delegations, to let delegate to mine on their behalf. Members will still receive block reward distribution via smart contract and not having to worry about the setup and operation of the miner program. In fact, we recommend smaller miners to join delegation, to maximise the block reward production together as a maximum limit staking node, that is 2,500,000 ZVC or Staking Rights. That is estimated to be block reward of 175% ~ 250 % for 9 months.
Our main-net is scheduled to launch in End of September 2019. Our technical development can be followed here.
