Edgeware

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.


Edgeware is a high-performance, self-upgrading WASM (WebAssembly) smart contract platform, in the Polkadot ecosystem.

Service Fee

10% of rewards

Minimum Stake

0.1

Unbonding Period

7 Days

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Delegation Instructions

1. IMPORT YOUR STASH - If you have already imported your Edgeware stash to the Polkadot UI, skip to step 2.

The current version of the Polkadot.js extension requires you to first create an account before you can import your own stash account. You may delete this account after you have imported your stash.

  1. Install the Polkadot.js extension for Chrome
  2. Click the extension icon in your browser
  3. Click the extension icon in your browser
  4. Click + to add an account
  5. Copy the provided mnemonic seed
  6. Enter a name for your account
  7. Enter a password.
  8. Verify the password.
  9. Click Add the account with the generated seed
  10. Click + in the top right corner
  11. Click Import account from have a pre-existing seed, import the account
  12. Enter the your mnemonic seed for your stash account
  13. Name the account
  14. Create a password & verify
  15. Click Add the account with the supplied seed


2. IMPORT OR CREATE YOUR CONTROLLER*

* You can use your stash as your controller, however, for security reasons, the Edgeware team recommends you create a separate controller address. If you are importing an existing controller account, repeat step 1 with your controller mnemonic.

  1. Open the Polkadot.js extension
  2. Click +
  3. Click Create New Account
  4. Enter the password for your stash account
  5. Click Create derived account
  6. Name the controller account
  7. Create a password & verify
  8. Click Create derived account
  9. Save your seed in a safe place

3. TRANSFER EDG TO YOUR CONTROLLER TO PAY FOR TRANSACTION FEES*

*If your controller already has 5-10 EDG in it, skip to step 4.

  1. Go to Polkadot UI
  2. Click TRANSFER under ACCOUNTS in the top navigation
  3. Select your stash as the send from account
  4. Select your controller as the send to address
  5. Enter the amount of EDG you want to transfer. You will need 1 EDG for you “existential deposit” (the minimum balance the network requires to keep your account open) and 5-10 EDG to cover transaction fees.
  6. Click Make Transfer
  7. Click Sign and Submit
  8. Enter your stash password in the pop up
  9. Click Sign the transaction

4. BOND YOUR EDG and NOMINATE BISON TRAILS’ VALIDATORS

  1. Go to Polkadot UI
  2. Click STAKING under NETWORK in the top navigation
  3. Select the ACCOUNT ACTIONS tab in the Staking navigation at the top
  4. Select + NOMINATOR at the top right of the screen
  5. In the modal, select your stash account and, if applicable, controller account
  6. Your controller will need to have nominal funds (5-10 EDG) to not be reaped and pay for transaction fees
  7. In the value bonded field, input the amount of EDG you’d like to bond
  8. If you’d like to bond all of your EDG, leave 5-10 EDG in your stash account for transaction fees
  9. Select your preferred payment destination:
    → Select Stash account (increase the amount at stake) to compound your rewards on your Stash account (most common), or
    → Select Stash account (do not increase the amount at stake) to leave your rewards un-bonded and spendable in your Stash account
  10. Click NEXT
  11. Disable autoselect to enable searching for nominators
  12. Search for and select the Bison Trails validators. Selecting all nodes will distribute stake among them evenly:

    Bison Trails/Bison Trails 1
    Bison Trails/Bison Trails 2
    Bison Trails/Bison Trails 3
    Bison Trails/Bison Trails 4
    Bison Trails/Bison Trails 5
    Bison Trails/Bison Trails 6
    Bison Trails/Bison Trails 7
    Bison Trails/Bison Trails 8
  13. Click Bond & Nominate
  14. Click Sign and Submit
  15. Enter your stash password in the pop up
  16. Click Sign the transaction
  17. Wait for the Transaction Success banner to pop up. This process can take a while if the network is behind.

Congratulations! You are now nominating the Bison Trails validators.

Support

We are available to answer your questions 9am–6pm ET Monday-Friday. Please contact us: support@bisontrails.co



FAQ

Edgeware’s native rate of participatory rewards is determined by the staking rate of the protocol, capping out at 20% when 80% of the protocol’s tokens are staked.

An inflation model calculator can be found here.

If a validator doesn't follow protocol rules, Edgeware slashes their bonded tokens as well as the EDG delegated to them.

  • 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.

In Edgeware, only the 64 largest delegators to a validator will receive rewards. You can see the list of all delegators on Bison Trails’ validators in the Polkadot UI when searching for “Bison Trails.”

Bison Trails charges a percentage service fee on all rewards earned by tokens delegated to our validator. The service fee 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, Cosmos, Kusama, Livepeer, Ontology, Polkadot, Solana, and more. We also offer dedicated participation clusters.


Contact us




Please review our Digital Asset Rights Delegation Agreement.

bison cool

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?

Learn more about delegation in our guide to delegating digital assets.

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