Cosmos

The Cosmos Network is a decentralized network of independent, scalable, and interoperable blockchains.

Delegation Instructions

Before you start

In order to delegate to the Bison Trails validator, your ATOM must be in a Cosmos address on a Ledger Nano (and the Ledger Live app), in the Lunie browser extension, or the Lunie app.


Remember

Always store your mnemonic (seed) phrase and a backup in a secure location. If it is lost, it can never be restored.

If your address is a Lunie wallet

Cosmos Delegation
Delegating to the validator

1. Navigate to the validator

  1. Go to the Lunie web extension
  2. Click GO TO LUNIE for the account from which you want to delegate
  3. Once you are logged in, go to the Bison Trails Validator

2. Delegate to the validator

  1. Click STAKE on the Bison Trails Validator page.
  2. In the pop-up, confirm the To and From Wallets are correct.
  3. In the Amount field, enter the amount you wish to delegate. We recommend you leave up to 5 ATOM in your wallet for network fees.
  4. Click NEXT
  5. Confirm and click NEXT
  6. Click SEND to send the transaction to the Lunie browser extension
  7. Click on the Lunie browser extension to review the transaction
  8. Enter your Lunie browser extension password
  9. Click APPROVE
  10. Back in your Lunie dashboard, wait for confirmation. This can take a few minutes.
  11. Navigate back to your Portfolio in the left hand navigation to view your total and available ATOM, as well as total rewards

If your address is on a Ledger Nano

1. Navigate to Bison Trail’s Validator

  1. Plug your Ledger Nano into your computer
  2. Sign in using your Cosmos address and follow the on-screen prompts. The Lunie application will connect with the Cosmos app on your Ledger Nano and populate your Cosmos address.
  3. Once connected, go the Bison Trails Validator

2. Delegate to the Validator

  1. Click STAKE on the Bison Trails Validator page
  2. In the pop-up, confirm the To and From Wallets are correct
  3. In the Amount field, enter the amount you wish to delegate. We recommend you leave up to 5 ATOM in your wallet for network fees.
  4. Click NEXT
  5. Confirm and click NEXT
  6. Click SEND to send the transaction to be signed in your Ledger Nano
  7. In your Ledger Nano, make sure the Cosmos app is open
  8. Click through to review the transaction
  9. Sign the transaction
  10. On the Lunie platform, navigate back to your Portfolio in the left hand navigation to view your total and available ATOM, as well as total rewards

FAQ

Why is Cosmos’ expected reward rate a range of numbers?

Rewards are dependent upon the number of ATOMS currently staked in the protocol. If less than two-thirds of the total atom supply is staked, the annualized inflation increases anywhere from 7-20% until two-thirds of all ATOMS are staked again.

To determine the current reward rate, divide the inflation rate by the staking ratio. You can find those numbers on Mintscan, a Cosmos block explorer.

What are the risks associated with delegating?

If a validator doesn't follow protocol rules, Cosmos slashes their bonded tokens as well as the ATOMS delegated to them. ATOMS remain at risk for slashing even during the 21-day unbonding period.

Slashing primarily happens for one of the two reasons outlined below.

  • Double signing: If someone reports on chain A that a validator signed two blocks at the same height on chain A and chain B, the validator will get slashed on chain A.
  • Unavailability: If a validator’s signature has not been included in the last X blocks, the validator will get slashed by a marginal amount proportional to X. If X is above a certain limit Y, then the validator will get unbonded.

Bison Trails takes these risks extremely seriously and have built our infrastructure to protect our customers and minimize slashing risk.

Read more about how we minimize risk, or read our guide about the Cosmos proportional slashing proposal.

How does Bison Trails’ commission work?

Bison Trails charges a 8% commission on all rewards earned by tokens delegated to our validator. The commission is paid to Bison Trails automatically by the protocol. You can then withdraw your rewards from the protocol directly.

Anything else I should know?

Learn more about Bison Trails and how our platform minimizes the risks of slashing. Please also review our full Digital Asset Rights Delegation Agreement.

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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.