Welcome to Velas Blockchain User Guides 📚
DESKTOP & WEB GUIDE 💻
GUIDE TO DELEGATE STAKE IN VELAS WALLET
- 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.
- 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
- ACCESS VELAS WALLET
- CHOOSE STAKING MENU.
- After signing in, move to the left menu and hit on ¨Staking¨
- CHOOSE DELEGATE.
- Choose ¨Delegate¨, all pools which currently available at that time will be shown.
- CHOOSE ONE ACTIVE POOL
- Choose a ¨Pool¨ by using the right-side button, , then pick a green one.
- Avoid red and orange pools.
- CHOOSE QUANTITY
- Choose the amount of VLX that will be delegated to that ¨Pool¨ and click ¨Apply¨
- EXECUTE SMART CONTRACT
- Click send to execute the smart contract
- 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