FAQ
There is no static amount of ODIN tokens to delegate to yourself to become a validator. You can determine how much ODIN you should stake to yourself based on the amount that you see other validators staking.
On the current heimdall testnet, some of the current validators have staked as little as 10 million loki, which equates to 10 ODIN.
You can learn more from section 3.3 of the ODIN whitepaper, which explains the delegated proof of stake (DPoS) system used by the ODIN chain for validating transactions:
ODIN protocol uses delegated proof of stake as a consensus reaching algorithm. This means that decisions about updating the state of the system can be applied by a limited number of validators that were chosen during the vote. Validators are selected by network members who own ODIN Tokens and can delegate them in favor of one of the delegates. In this case, the weight of the voter is determined by the number of tokens that they are ready to put on the delegate. After the voting stage, the 30 delegates who received the most votes become validators until the next vote.
If a validator fails to do its job for a long enough time, that validator node will become jailed, temporarily removing it from the validator list (and consequently from earning tokens) and costing it some of its staked currency (both self-delegated and delegated by others).
For the Odin testnet, you can find this information in the
GeoDB-Limited/odin-testnet-public-tools Github repository, under the slashing section of the genesis.json file.Here are the jailing parameters used for the Baldur testnet:
A validator is jailed if they fail to validate 5% or more of the last 30,000 blocks on the chain. A jailed validator is disallowed for 10 minutes, and loses 0.01% of its stake.
To check if your node is jailed, use the command below. ALWAYS run this with the --node http://34.77.171.169:26657 flag.
docker exec -it node bandd query staking validators --node http://34.77.171.169:26657 | grep -A9 -B13 $MONIKER
Usually by the time you've noticed a jailed condition, the 10 minute jail timer has elapsed. Otherwise, use the following command to check unjail timer;
docker exec -it node bandd query slashing signing-info $(docker exec node bandd tendermint show-validator) --node http://34.77.171.169:26657
From within the
odin-testnet-public-tools/node directory, run the export script with ./export.sh. This will save your node's private validator key (priv_validator_key.json) and public key (node_key.json) to the odin-testnet-public-tools/node/config folder. You can then copy these somewhere safe, or to another machine if you want to migrate your node to another host.From a host with the
bandd CLI tool installed, run bandd keys add <your-wallet-name> --recover. Then enter your wallet's mnemonic and it will be recovered to your keyring.Loki tokens are a smaller denomination of Odin tokens. One Odin token is equal to one million (1,000,000) Loki tokens.
It is common practice for cryptocurrencies to standardize using a fractional denomination for cases where smaller quantities of the currency are used (such as transaction fees) to improve usability.
Last modified 1yr ago