Stake, Delegate and Withdraw
Last updated
Last updated
The basic requirement to become a izicoin smartchain validator is to have a stake amount of at least 10 IZC tokens. The stake amount is the sum of staked and delegated IZC tokens of the address. This guide walks trough the process of using MEW (MyEtherWallet.com) in the process of using IZC SmartChain. Roadmap - Those functionalities will be built into our IDE and will not require any technical knowledge in the future.
There are two options to stake (both should be called from the address which would be the validator)
1.Send IZC tokens to the - 0xc6119816bB72c980d99861FeF89F6ceDe5D362A5 on the IZC SmartChain.
2.Call the `stake` function on the - 0xc6119816bB72c980d99861FeF89F6ceDe5D362A5 on IZC SmartChain.
IZC token holders who don't want to run a node by themselves but still wish to participate in governing the network can delegate any amount to one of the validators. Delegating is done by calling the `delegate` function on the with the validator address as data (see screenshot from MEW).
Both stakers and validators can withdraw their IZC tokens, up to the staked/delegated amount, at any time. The withdrawn amount will be deducted from the validator stake amount, and if the stake amount becomes below the minimum stake amount - the validator will be removed from the IZC SmartChain validators list.There are two options to withdraw:
1.Call the `withdraw` function on the with one parameter - the amount to withdraw. This call is for stakers, and will reduce the stake amount of the sender address.
2.Call the `withdraw` function on the with two parameters - validator address and amount to withdraw. This call is for both stakers (who can use their own address as the parameter) and for delegators to withdraw their delegated stake on a specific validator.
