Skip to content

Staking TML Tokens

Jump to bottom
Enrico Rubboli edited this page Aug 15, 2023 · 17 revisions

Staking TML Tokens

Staking with Mintlayer offers you two prominent paths. Whether you want to be at the helm of managing a staking pool or prefer to delegate your tokens to an expertly managed pool, we have you covered. Dive into this guide to learn both methods.

Two Ways to Stake TML Tokens

1. Creating a Staking Pool

For those who possess a robust amount of TML tokens and the technical prowess to maintain a staking pool, this is a route worth considering.

Prerequisites:

  • Balance: Before even thinking of starting a pool, your wallet should have at least 40,000 TML tokens.

  • Always-On Machine: You're not just managing your tokens. You're providing a service to others. Ensure your computer remains online 24/7 to keep the staking pool operational.

Steps to Create a Staking Pool:

  1. Execute createstakepool Command: This command initiates your staking pool. We discussed its details earlier, but here's a quick recap:

    createstakepool <AMOUNT> <COST_PER_BLOCK> <MARGIN_RATIO_PER_THOUSAND> [DECOMMISSION_KEY]

  2. Kick-off Staking with startstaking: After setting up your pool, you need to get it going. The startstaking command does just that.

  3. Monitor with stakepoolbalance: Keep an eye on your staking pool's balance. Here's how:

    stakepoolbalance <POOL_ID>

    Arguments:

    • <POOL_ID>: The unique ID of your staking pool. Make sure you have this ID handy.

2. Delegating TML Tokens to a Staking Pool

If running a pool isn't up your alley, fret not! You can still participate by delegating your tokens to an existing staking pool. Here's the best part: This method is trustless.

Key Features:

  • Security: Even after delegating, you retain control over your tokens. You can withdraw them from the pool anytime, without needing the pool manager's approval.

  • Risks: While your tokens remain in your control, remember that the reward hinges on the pool's operation. If the pool falters or doesn't function correctly, your reward might take a hit.

(We'll detail the delegation process in another section.)

Wrapping Up

Whether you're starting a staking pool or riding the wave by delegating, Mintlayer offers a seamless staking experience. As with all investments and blockchain operations, always stay informed and updated. Happy staking!

Note: Parameters and staking details might evolve over time. Stay connected with Mintlayer's official channels and community to get the latest scoop.

Clone this wiki locally