How to Delegate

# How to Delegate

Delegators are one type of participant in the staking of Octopus Network. They are responsible for delegating their OCT to the validators who are the second type of participant. By delegating their OCT to the active set of validators, they are able to share in the block rewards that are paid out by appchain.

While the validators are active participants in the network that engage in the block production and finality mechanisms, delegators take a slightly more passive role. Being a delegator does not require running a node of your own, when looking for validators to delegate, a delegator should pay attention to their reputation for delegating a specific validator - as well as the risk that they bear of being slashed if the validator gets slashed.

⚠️ Warning: If the validator gets slashed, the delegators of this validator would also get slashed.

The delegating steps are as follows:

  1. Log in to Octopus Network Mainnet (opens new window) with your NEAR account.
  2. Navigate to the Appchains page, select the appchain and click it.
  3. From the validators list, select the validator you want to delegate, and then click the "Delegate" button. You will see a pop-up window, input the amount of OCT you want to delegate, confirm the transaction, and you're done - you are now delegating.

Note: The following picture is the appchain Myriad as an example.

delegator action

Note: For delegator, the current minimum amount is 200 OCT. (From April 14th, 2022)

Your delegation will become active in the next Era. Eras last 24 hours by default - depending on when you do this, your delegation may become active almost immediately, or you may have to wait almost the entire 24 hours. When your delegation are active, you will start to get rewards allocated to you. In order to claim them (i.e. add them to your account), you must manually claim them.

Last Updated: 5/16/2022, 9:52:49 AM