Nominate Staking in Kusama Network

Authorjleony
Date
12/11/2019
Time3 min read

This guide aim to remove any complexity, and provide a clear and concise nominate staking guide for Kusama Network nominators.

We will be doing the nominate staking for Kusama Network from https://polkadot.js.org/apps/#/

We assume you already have a Kusama address with $KSM. If not do check out our post on creating an account in Medium with Polkadot{.js} extension.

Step 1 Bond your coins

a) On Top left, make sure you are connecting to Kusama Network's node. Click “Staking” on the left menu, then click on “Account actions” tab. Then to start bonding your coins, click on "+ New stake" button as shown in below.

b) You will be prompt a "Bonding Preferences" box as below. Select your stash account and controller account. Input the value you want to bond. (3.8 KSM in the example below)

While your stash and controller account can be the same address, it is recommended to have a separate account for both stash, and controller role.

c) Select your payment destination, in the drop-down box as shown below, there are a few options. If you want to compound your rewards, select "Stash account (increase the amount at stake)".

d) After you click "Bond", you will be taken to the screen as below. Review all your selection, then click "Sign and Submit" to your coins bonded.

Step 2 Favourite the validators that you intend to nominate (Optional)

a) While this step is not required, but it will make things easier for you, when you try to nominate later. Go to "Staking overview" or "Waiting" tab as shown below, and click on the star beside the validators you intend to nominate to.

b) as the screen capture above, we favourite the following validators by clicking the star beside the validators' name, to get the star filled with yellow.

Please note that a new identity module was created in December 2019, and we have set on-chain identity for our validators instead of network-wide nick module as above. so VO ASTER = VALIDATORS.ONLINE (our on-chain identity), VO BELLA = VALIDATORS.ONLINE/B (our subname under our on-chain identity), VO CAROLINE = VALIDATORS.ONLINE/C

  • VALIDATORS.ONLINE Fk3yTFztZdZa4a7yBpisz9ceMyjgYLtZ9CKSCfFNVhoW2ZC
  • VALIDATORS.ONLINE/B F59ADM2Yxk38AeaVVb2idB3CovryCWc3H1NKXTD8QbJ6pDG
  • VALIDATORS.ONLINE/C EXPniCSoCiE8XhPxsetVm53VD23hrkfPuwHp1VS7Hu6fo9E

Step 3 Nominate

a) After bonding as in Step 1, you should see something like below in n Staking -> "Account actions" tab. Click "nominate"

b) If you have not done step 2, you will need to manually input validators' address into "nominate the following addresses" drop down box to search (it may take some time).

c) If you have done the step 2, you can easily nominate the validators, that you have added them to your favourite list. As below, you just need to click on the switch box from Nay to Aye. Click "Nominate" then "Sign and Submit".

d) You should see the screen like below after you are started nominating. Please do take note that it takes 7 days to unbond.

e) By now you are done nominating, you can also bond more fund, change nominee, change reward destination and etc. by clicking the setting button beside the stop nominating button.

Last step

Getting rewards while your are sleeping :) Want to know how to estimate your rewards, do check out our tweets here https://twitter.com/ValidatorsO/status/1205054776842391552