Cosmos

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.


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

Commission

8% of rewards

Minimum Stake

1 ATOM

Unbonding Period

21 Days

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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

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.

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.

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

Interested in delegating on other protocols?

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


Contact us




Please review our Digital Asset Rights Delegation Agreement.

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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. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT A RECOMMENDATION OR ENDORSEMENT OF ANY DIGITAL ASSET, PROTOCOL, NETWORK OR PROJECT. HOWEVER, BISON TRAILS (INCLUDING ITS AFFILIATES AND/OR EMPLOYEES) MAY HAVE, OR MAY IN THE FUTURE HAVE, A SIGNIFICANT FINANCIAL INTEREST IN, AND MAY RECEIVE COMPENSATION FOR SERVICES RELATED TO, ONE OR MORE OF THE DIGITAL ASSETS, PROTOCOLS, NETWORKS, ENTITIES, PROJECTS AND/OR VENTURES DISCUSSED HEREIN.

THE RISK OF LOSS IN CRYPTOCURRENCY, INCLUDING STAKING, CAN BE SUBSTANTIAL AND NOTHING HEREIN IS INTENDED TO BE A GUARANTEE AGAINST THE POSSIBILITY OF LOSS. THIS DOCUMENT AND THE CONTENT CONTAINED HEREIN ARE BASED ON INFORMATION WHICH IS BELIEVED TO BE RELIABLE AND HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE BUT BISON TRAILS MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE FAIRNESS, ACCURACY, ADEQUACY, REASONABLENESS OR COMPLETENESS OF SUCH INFORMATION.

ANY USE OF BISON TRAILS’ SERVICES MAY BE CONTINGENT ON COMPLETION OF BISON TRAILS’ ONBOARDING PROCESS, INCLUDING ENTRANCE INTO APPLICABLE LEGAL DOCUMENTATION AND WILL BE, AT ALL TIMES, SUBJECT TO AND GOVERNED BY BISON TRAILS’ POLICIES, INCLUDING WITHOUT LIMITATION, ITS TERMS OF SERVICE AND PRIVACY POLICY, AS MAY BE AMENDED FROM TIME TO TIME.

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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.