Celo

Last updated: Aug 02 2020

Protocol teams occasionally change the delegation / staking process. If the following instructions do not work, please email support@bisontrails.co for assistance.


Celo is a mobile-first Proof of Stake blockchain with smart contracts and native stablecoins.

Unbonding Period

72 hours

Bison Trails' Validator Group Address

Delegation Instructions

Before you start

In Celo, delegating takes the form of voting for a Validator Group. In order to delegate, you must install the Celo CLI to perform the tasks listed below.

You may use a Ledger Nano or X for all transactions made using the Celo CLI. To do so, append --useLedger to the commands. You may target a specific address on the Ledger using --ledgerCustomAddresses “[n]”, where n is the index to the target address. Detailed instructions for using a Ledger are available here.

All CELO amounts should be expressed in wei (1 CELO = 1000000000000000000 wei)

Register Your Account

$ADDRESS represents a vote signer for a ReleaseGold contract or standard account address. If your account is already registered, skip to step 2.

1. Register Your Account

  • Execute this command on the Celo CLI
    celocli account:register --from $ADDRESS

If your CELO is held in a ReleaseGold contract...

2. Lock CELO GOLD

  • Ensure you have access to the beneficiary address on the contract.
  • Execute this command on the Celo CLI
    celocli releasegold:locked-gold \
    --contract $CELO_RG_ADDRESS \
    --action lock \
    --value $VALUE

3. Vote for the Validator Group*

*$ADDRESS represents a vote signer for a ReleaseGold contract. You will need to use a Vote Signing Key.


  • Create and authorize a Vote Signing Key using the process detailed here.
  • Cast your votes with this command on the Celo CLI
    celocli election:vote \
    --from $ADDRESS \
    --for $CELO_VALIDATOR_GROUP_ADDRESS \
    --value $VALUE

4. Activate Your Votes

  • After one epoch passes (up to 24hrs) activate your votes with this command on the Celo CLI
    celocli election:activate --from $ADDRESS

5. View your Votes

  • Execute this command on the Celo CLI
    celocli election:show $ADDRESS --voter

If your CELO is in a standard account

2. Lock Celo GOLD

  • Execute this command on the Celo CLI
    celocli lockedgold:lock --from $ADDRESS --value $VALUE

3. Vote for the Validator Group*

*$ADDRESS represents a vote signer for a standard account address.

  • Cast your votes with this command on the Celo CLI
    celocli election:vote \
    --from $ADDRESS \
    --for $CELO_VALIDATOR_GROUP_ADDRESS \
    --value $VALUE

4. Activate Your Votes

  • After one epoch passes (up to 24hrs) activate your votes with this command on the Celo CLI
    celocli election:activate --from $ADDRESS

5. View Your Votes

  • Execute this command on the Celo CLI
    celocli election:show $ADDRESS --voter

Unbonding

Unbonding your tokens involves revoking votes, unlocking the CELO, and finally withdrawing the CELO. Detailed instructions are here.

FAQ

Rewards for Locked CELO holders are targeted at 6% annually. This percentage can be adjusted by the protocol.

Holders of Locked CELO who voted in the previous epoch for a group that elected one or more validators and have activated their votes are eligible for rewards. These rewards are denominated in Locked CELO and reapplied as votes, so future rewards are compounded without the account holder needing to take any action.

In Celo, delegating is done in the form of voting for a Validator Group. Locked CELO holders’ are not at risk of slashing. However, if there’s a slashing event, the group, validators, and CELO token holders will all receive reduced rewards for the next month.

Interested in delegating on other protocols?

Have tokens on other networks? Learn more about delegating to our community validators on Cosmos, Edgeware, Kusama, Livepeer, Ontology, Polkadot, Solana, and more. We also offer dedicated participation clusters.


Contact us




Please review our Digital Asset Rights Delegation Agreement.

This document is for informational purposes only. Please do not construe any such information or other material contained in this document as legal, tax, investment, financial, or other advice.

Bison Trails

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Questions?

If you have questions, or if you are interested in running a validator on the Bison Trails platform, please contact us. Our protocol specialists are happy to assist you.