Use Phala App to Delegate

Delegate

How to delegate

  1. Open Phala App Delegate page. You can see the list of StakePools and Vaults, the StakePools are sorted by APR by default and Vaults are sorted by APY by default. You can switch the StakePool list or Vault list by clicking the button. Filter out the Pools that meet the remaining quota according to the amount you want to delegate;

  1. Click the pool you want to delegate, and details of the pools being collapsed are displayed. Enter the amount to be delegated (less than Pool Remaining and Delegable Balance). Click delegate and sign. After the transaction is sent successfully, data will be updated on the App in about 20 seconds.

  1. If you want to use your Vault to delegate, click the account switch button in the upper left corner of the โ€œdelegateโ€ page to switch to the corresponding Vault account, and then the delegation you made will be paid by the Vault account.

How could I cancel my delegation?

Withdraw the delegations

You need to find the corresponding delegation from the โ€œmy delegationโ€ page of the Phala App, click withdraw and enter the value to be withdrawn to cancel the delegation.

If there are enough free delegations in the stakepool, your withdrawal request will be completed in real-time.

If the free delegation is insufficient, a withdrawal queue will be generated.

  • The pool owner needs to add enough free delegation within seven days after the withdrawal queue is generated. Anyone can manually trigger a reclaim operation at any time and use the free delegation in the stakepool to eliminate the withdraw queue.

  • If the free delegation is still insufficient after seven days, and the existing releasing stake is also insufficient to afford the withdrawal, the stakepool will be forced to stop after a new reclaim operation, and all active workers will enter a cooling-down period for 7 days. When the cooling down countdown of the workers is over, any delegator can reclaim the delegations from the stakepool, take out the delegation which was staked into the workers, and use it to eliminate the withdrawal queue of the pool.

When the withdrawal queue is generated, this part of the delegation will be separated from your Delegation NFT in this pool, your Delegation NFT in this pool records the remaining delegation, and a Withdrawal Delegation NFT which belongs to the stakepool will be generated (Donโ€™t worry, this NFT records the token orientation after withdrawal, and you can find your Withdrawal NFT in the Phala App, why we do like this is for keeping the withdrawal queue being paid back in order)

And the withdrawal queue is eliminated in order. The earlier the withdrawal, the earlier the free delegation in the pool will be obtained.

Therefore, in the worst case, you will need to wait 14 days to get your delegation back from a StakePool, but in most cases, the good behavior stakepool owner will take the initiative to complete your withdrawal application within 1-7 days. If you delegated to a Vault, another 7 days are needed. Therefore, in the worst case, you will need to wait 21 days to get your delegation back from a Vault.

When you already have a withdrawal queue in stakepool/Vault, you cannot cancel the existing withdrawal application. Once you initiate a new withdrawal application under the same pool, the old withdrawal queue will be invalidated and the withdrawal will be re-initiated with an updated application, and the countdown will restart to the countdown on a 7-day period.

If you want to withdraw the delegations in your Vault account, click the account switch button in the upper left corner of the โ€œmy delegationโ€ page to switch to the corresponding Vault account, and then the withdrawal you made will be operated by the Vault account.

Unwrap the wPHA

After withdrawal is finished, your tokens will be stored as wPHA. You need to unwrap it on the โ€œdelegateโ€ page and click โ€œunwrap allโ€ to unwrap the tokens.

StakePool/Vault management

Create

You can select the type of pools you want to operate under the โ€œfarmโ€, choose โ€œStakePoolโ€ or โ€œVaultโ€, and click to enter the corresponding page. On the StakePool and Vault pages, you can do the same operation:

Click the โ€œCreateโ€ button in the upper right corner to create your pool.

Claim Owner rewards

Rewards of StakePool

  1. You can check your current available rewards on the My StakePools page;

  1. Confirm the PID and Rewards, click the claim rewards in the pop-up window, enter the reward receiving address (you can directly click My Address to add your own address), click submit, sign, and after the transaction is sent successfully, you can see the data update on the App in about 20 seconds.

  2. You can also use Claim all to claim the rewards from all the StakePools by one transaction.

Note if you claim the owner rewards to another address not the StakePool owner address, the rewards will be stored as wPHA. You need to unwrap it on the delegate page.

Rewards of Vault

  1. You can check your current available rewards on the My Vaults page;

  1. Click the mint cut and sign, to manually claim the Vault owner reward. After the transaction is successful, the Vault ownerโ€™s rewards will be stored in the form of the Vaultโ€™s Delegation NFT. After that, you can click claim to delegation to distribute the Vault owner rewards to the address you want to receive rewards, after which you will be able to manage these delegations. You can see the data update on the App in about 20 seconds.

  2. You can also use Mint Cut and Claim to Delegation on the upper of the page to claim the rewards from all the StakePools by one transaction.

Last updated

Logo

COPYRIGHT ยฉ 2024 PHALA.LTD ALL RIGHTS RESERVED. May Phala be with you!