Simple Guide to nominate stake your DOTs (Polkadot)

Authorjleony
Date
6/5/2020
Time2 min read

Introduction

If you have already claimed your DOTs (Polkadot) and already own some DOTs in your wallet, and looking for guide to start nominate staking to rewards, then you are in the right place. If you are looking to claim your DOTs, please read

Validators.Online's Polkadot validator is up and running for a few days now. It is deployed in a cluster together with 2 sentry nodes in Google Cloud Platform. It would have 99.99% uptime unless Polkadot network has a glitch. The fees is 1%.

You can use your Polkodot wallet with Chrome Extension that you are using for Kusama, import it to the extension and change the display format to Polkadot.

To start to nominate staking, go to https://polkadot.js.org/apps

Star your favourite validators

1) Navigate to the "Staking" tab on the left side. As shown in the picture below

2) Go to Waiting or Staking overview (Validators that are currently in active set)

Search for 13BgrDLEpN2S7wQuFMwgymnBvY3s71tar2gd1cdJaiJqoq8o

We will get on-chain identity once DOTs is transferable.

Then, click the star beside the validator address, to turn it into a yellow star as shown in above picture.

Setup Nominator

1) Navigate to the "Staking" tab on the left side.
2) Click on "Account Actions" tab on the top.
3) Click "+Nominator" on top right

Setup Nominator 1/2

Select your Stash Account and Controller Account Can be the same for now, but once DOT is transferable, you should use a separate address for Controller account.

value bonded: Provide the amount of DOT you want to bond

payment destination: Select Stash Account address, or any other address that you would like the Staking rewards to go to.

Click Next.

Picture shown below is taken with Westend Network (Polkadot's testnet). The on-chain bonding duration for Polkadot is 28 days.

Setup Nominator 2/2

You can leave automatic selection on, it will include your favourite validators that you have star them in the first step.

If you switch to non auto selection mode, you need to

Click the validators that you want to nominate in candidate accounts box, then it will be added to nominated accounts box You can select multiple validators up to 16.

Click Bond & Nominate

Sign and Submit. Sign the transaction.

You shall get a prompt to authorize transaction as shown below. Click Sign and Submit

The last step, you should get a prompt to sign the transaction from your Polkadot extension wallet as below. Press "Sign the transaction."

Lastly, you can check and verify your staking under the "Staking" -> "Account Actions"