As a co-founder of Platinum Q DAO Engineering Anton Dziatkovskii is playing an important role in the implementation of the blockchain technology. With 5 years of experience in blockchain, Anton Dzyatkovskiy believes that advanced technology can truly change the future. Read this article to dive into the disruptive wave of blockchain technology.
One of the main options to earn with NOAH coin is the Delegation. You can use this opportunity via the new Noah tools platform. It’s a really simple way to raise your stake! If you haven’t heard about the Delegation process yet, we suggest you read this article to leave no blind spots about this topic.
In a few words, Delegation is a process when you give your coins on credit to the Validator, who will maintain the blockchain network. In this case, you become a Delegator and receive passive income for transaction confirmation. It will be calculated in a delegated cryptocurrency and distributed between all the Delegators of the chosen Validator.
But this doesn’t mean that you can delegate your coins and forget about duties. As a Delegator, you should always keep an eye on your Validator, so he follows the rules of the blockchain.
Now, we have reached the “How-to-start” point and, as everything in the tools platform, it’s very simple! Join our guide!
Delegate and Unbond
Let’s imagine that you already have an account on the Noah tools platform, then you will have to pick DELEGATION from the menu. But, if you don’t have an account yet, don’t get sad — here’s the detailed guide on how to create it and refill. Let’s move on.
The first option you will see is DELEGATE and as it says: “You can delegate your tokens to validators and receive related payments in accordance with the terms of participation.” The Delegation process is as convenient as possible:
- Choose Validator first from the list of available addresses. At the moment, they all belong to Platinum and maintaining the network.
- Select the coin.
- Define the stake amount.
- Leave a message of up to 1024 symbols if you want (optional).
- Select the coin to pay a fee, it can be NOAH or any other coin.
- Click Delegate
If you want to know detailed information about available Validators, you can check it out in an explorer by following this link (in a few days, this information will be displayed on the interface). We suggest picking Validator with the lowest fee and the highest percentage of profitability.
After that, you need to click Confirm in the popup form. That’s all, now you are a Delegator and begin to receive passive income.
Unbond is the opposite of the Delegation process. In case you don’t want the Validator to handle your holdings anymore, all you need to do is submit the request for unbonding. WARNING: The process takes 30 days after the request has been sent. To make it come true, you need to:
- Select one of the Validators from the list.
- Choose the coin.
- Define the stake amount.
- Enter a message (optional).
- Select the coin to pay a fee of 0.2 NOAH.
- Press the Unbond button.
Notice that you can see in the list how big Validator’s part in the Noah blockchain.
In the popup form, you will see important information about:
- how long it will take to unbond your coins;
- the approximate block of the unbonding;
- the notification that your assets will not be generating rewards during this period.
Now we’ll tell why you should pick Auto-Delegation over normal. The biggest difference is Auto-Delegation can significantly increase your passive income and works like compound interest. It means that you’ll receive the bonus income on top of your passive income for Delegation. That’s why Auto-Delegations looks better.
In order to enable automatic delegation, you will first need to generate a batch of transactions. The easiest way to do it is online by using GENERATE DELEGATION TRANSACTIONS. In that case, generated transactions will be sent to the auto-delegation server automatically. Please notice, that if you want to use ordinary delegation, use it first because it resets Auto-Delegation configuration.
To generate delegation transactions online you need:
- Select Validator to which you will auto-delegate your coin (we recommend to choose the same as in a normal delegation).
- Define the stake amount after which auto-delegation will occur (a small number is recommended so that auto-delegation occurs constantly).
- How many times will auto-delegation occur (a large number is recommended to increase revenue over time).
- Select the Gas price (you can leave it empty, the default value is fine).
- Click Start auto-delegation button.
It’s done! Now you’re a Delegator and will receive passive income. Profitability will be displayed directly in the interface on the Noach Tools platform so you won’t miss this information.
Use the benefits of Delegation
Another simple and clear guide off the assembly line! Now you will definitely won’t be confused in the process of Delegation and will be able to effectively use your own NOAH coins. Don’t miss the opportunity to become an active member of the Noah blockchain network, and we will continue to add new fantastic features!
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