Stake, Delegate and Withdraw
Last updated
Last updated
The basic requirement to become an OWCT Chain validator is to stake at least 5,000 OWCT tokens. The stake includes both staked and delegated OWCT tokens associated with the address. This guide walks through the process of using MEW (https://MyEtherWallet.com) to interact with the OWCT network.Roadmap - These functionalities will be integrated into our Studio, eliminating the need for technical knowledge in the future.
There are two options to stake (both should be called from the address which would be the validator)
1.Send OWCT tokens to the consensus contract - 0x73D22450B43adc1f67e08e983664323d67cE62b4 on the fuse network.
2.Call the `stake` function on the consensus contract - 0x73D22450B43adc1f67e08e983664323d67cE62b4 on the fuse network.
OWCT token holders who don't want to run a node by themselves but still wish to participate in governing the network can delegate any amount to one of the validators.Delegating is done by calling the `delegate` function on the consensus contract with the validator address as data (see screenshot from MEW).
Both stakers and validators can withdraw their OWCT tokens, up to the staked/delegated amount, at any time. The withdrawn amount will be deducted from the validator stake amount, and if the stake amount becomes below the minimum stake amount - the validator will be removed from the OWCT chain validators list.There are two options to withdraw:
Call the `withdraw` function on the consensus contract with one parameter - the amount to withdraw. This call is for stakers, and will reduce the stake amount of the sender address.
Call the `withdraw` function on the consensus contract with two parameters - validator address and amount to withdraw. This call is for both stakers (who can use their own address as the parameter) and for delegators to withdraw their delegated stake on a specific validator.
