Welcome to Velas Blockchain User Guides 📚

DESKTOP & WEB GUIDE 💻

GUIDE TO DELEGATE STAKE IN VELAS WALLET

INTRODUCTION

• The Velas Network is made up of a set of computers (nodes) distributed throughout the world.
• Any user who holds 1,000,000 VLX or more can run a node and setup a ¨Pool¨.
• Users who hold 10,000 VLX or more can use ¨Pools¨, to delegate their VLX and generate rewards.
• Every 6 hours (currently) 19 nodes are chosen based on their reputation. When a node is chosen, it will generate a reward at the end of the epoch and it will be distributed between and all delegates.
• Nodes and delegates generate rewards based on balance, the distribution of the reward generated in a node is 40% the for pool organizer (as a minimum), and 60% to be distributed among all the delegates based on their balance.
• The process is done through a smart contract that the user can finish and withdraw their balance whenever they want, totally safe and secure for the User.

PREVIOUS REQUIREMENTS

• The minimum quantity required is *10,000 VLX
• You previously must have an account created at https://wallet.velas.com

HOW TO JOIN A POOL AND DELEGATE STAKE

1. ACCESS VELAS WALLET

• Access web wallet or desktop wallet using our PIN/Password to access.

2. CHOOSE STAKING MENU.

• After signing in, move to the left menu and hit on ¨Staking¨

3. CHOOSE DELEGATE.

• Choose ¨Delegate¨, all pools which currently available at that time will be shown.

4. CHOOSE ONE ACTIVE POOL

• Choose a ¨Pool¨ by using the right-side button, , then pick a green one.

• Avoid red and orange pools.

5. CHOOSE QUANTITY

• Choose the amount of VLX that will be delegated to that ¨Pool¨ and click ¨Apply¨

6. EXECUTE SMART CONTRACT

• Click send to execute the smart contract

7. CHECK YOUR BALANCE

• To check your balance visit again delegate staking menu and search your pool in the list, you will see your balance on the right side