Creating A Validator

Before we proceed, we need to create a new Validator Wallet which will need to be funded with 10001 POSI.

1. Creating A New Validator Wallet

You need to provide a local account name of your choice and provide a passphrase. When creating an account, the CLI will ask you to provide a passphrase to encrypt the keystore file: ./psc keys add [LOCAL ACCOUNT NAME] --passphrase example :

./psc keys add mylocalaccountname --passphrase

Remember your passphrase. You will need it to decrypt the account keystore in order to send transactions & perform other actions.

Also save your seed phrase (mnemonic) somewhere as well, in case you lose your keystore.

Backing Up Your Keystore File (Optional)

./psc keys location

The command above will return the location of your account keystore. You may want to create a backup of this file.‌

You can check the list of wallets (local accounts) with the following command:

./psc keys list

Example output from above command:

#NAME                                  ADDRESS
example-account1                       0x3B8d9cBa93cFD90ac30B8e5eE04C3F916317Aa36wh4p0kuc7unxez2z8f82zfnhsg4ty6dupqyjt2

Checking Account Balance

Use the following command to check your balance:

./psc --node="[API_endpoint]" balances [WALLET ADDRESS]

Example:

Mainnet

./psc --node="https://api.posichain.org" balances 0x3B8d9cBa93cFD90ac30B8e5eE04C3F916317Aa36u6c4wer2dkm767hmjeehnwu6tqqur62gx9vqsd

Testnet

./psc --node="https://api.s0.t.posichain.org" balances 0x3B8d9cBa93cFD90ac30B8e5eE04C3F916317Aa36u6c4wer2dkm767hmjeehnwu6tqqur62gx9vqsd

2. Creating a Validator

For you to create a Validator successfully, it needs to have 10000 POSI tokens plus the necessary fees to create the validator transaction on chain. For this reason, we recommend that you send at least 10001 POSI tokens to your --validator-addrbefore you continue.

For Testnet tokens, check here.

Replace everything in [ ] with your own data:

Mainnet

./psc --node="https://api.posichain.org" --chain-id mainnet staking create-validator \
    --validator-addr [YOUR WALLET ADDRESS] --amount 10000 \
    --bls-pubkeys [BLS PUBLIC KEY1],[BLS PUBLIC KEY2] \
    --name "[NAME]" --identity "[IDENTITY]" --details "DETAILS" \
    --security-contact "CONTACT" --website "YOUR-WEBSITE.COM" \
    --max-change-rate 0.1 --max-rate 0.1 --rate 0.1 \
    --max-total-delegation 100000000 --min-self-delegation 10000 --passphrase

Testnet

./psc --node="https://api.s0.t.posichain.org" --chain-id testnet staking create-validator \
    --validator-addr [YOUR WALLET ADDRESS] --amount 10000 \
    --bls-pubkeys [BLS PUBLIC KEY1],[BLS PUBLIC KEY2] \
    --name "[NAME]" --identity "[IDENTITY]" --details "DETAILS" \
    --security-contact "CONTACT" --website "YOUR-WEBSITE.COM" \
    --max-change-rate 0.1 --max-rate 0.1 --rate 0.1 \
    --max-total-delegation 100000000 --min-self-delegation 10000 --passphrase

Copy the entire command. Extra white spaces in the command could cause errors.

Name, identity, details, security-contact and website need to be put in double quotes if there are more than one word separated by space (example --name "John the validator").

The CLI will prompt you to enter your BLS key file password.

--validator-addr is the validator address (string)

--amount is the initial amount of POSI you want to stake (float)

--bls-pubkeys takes a comma-separated list of BLS public keys (string)

--name will be the name displayed on the Staking Explorer (string)

--identity unique identifier for the validator (string)

--details is the description of the validator (string)

--security-contact is security contact for the validator (string)

--website will be the website displayed on the Staking Explorer (string)

--max-change-rate is the maximum rate change the validator can do to their commission rate every epoch (float)

--max-rate is the maximum commission rate that the validator can set (float)

--rate is the commission rate of the validator (float)

--max-total-delegation is the maximum amount of POSI that can be delegated to this validator (float)

--min-self-delegation is the minimum amount of POSI the validator must stake to itself (float)

--max-rate and --max-change-rate cannot be changed later.

--min-self-delegation has to be at least 10,000 POSI.

--rate, --max-rate, and --max-change-rate accepts numbers between 0 and 1 representing percentages

If you have a Keybase account, we recommend you use your Keybase public key fingerprint as your validator's identity. The field is unique, ensuring that other validator's can not attempt to impersonate you. This data will also help with some awesome integrations & features in the future!