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Full Story
Sudoblock have added new features to the ICON Community Tracker. You can now log into the tracker with your Hana wallet to stake your ICX and vote (delegate) for a validator in return for staking rewards, or to contribute to a validators bond.
This update follows the discontinuation of ICONex wallets. Individuals who used ICONex for staking, voting and bonding can now connect to the ICON Community Tracker with their Hana wallet and will find an improved experience for the familiar front-end that was available on ICONex.
Using the New Features
Simply navigate to the tracker, login via the icon in the top right, and then use the drop-down menu in the same position to find staking, voting, and bonding menus. You can also navigate to all the governance related pages from your wallet overview page when logged in.
Staking
Staking your ICX will allow you to vote for validators and earn staking rewards, or to contribute to a validators bond. Navigate to the Staking menu via the ‘Staking’ button in the top right-hand corner’s drop-down menu (where you logged in) or through the ‘Stake’ button at the top left of your wallet overview page. Here you can set the specific amount of ICX you wish to stake.
Voting
By voting, you will earn a share of validator rewards as a staker. You can access the voting menu by clicking ‘Voting’ in the top right-hand corner’s drop-down menu (where you logged in). The rewards you receive for voting will vary based on the validators you vote for, depending on a range of factors, such as jailing, bonds and commission rates. You can find more information on how these affect rewards in the linked articles.
The voting menu has also been upgraded to allow auto-voting which will distribute your votes to validators according to various settings, such as number of validators, or based on maximizing returns by voting for teams with the lowest commission. This allows you to easily distribute your votes to more teams, promoting decentralization while minimizing the impact of slashing in the future, should this occur for a team you have voted for. Auto-voting doesn’t update your votes over time so it will be beneficial to check back in on your votes occasionally.
Bonding
Validators are asked to bond ICX equivalent to 5% of their vote share. This fund is subject to potential slashing should a validator not meet their commitments to the network. Bonds can be provided by the validator themselves, or by community bonders. Validators will often offer additional incentives to community bonders and must whitelist the community member’s wallet ahead of receiving a bond from them. Validators and community bonders can find the bonding menu under ‘Bonding’ in the top right-hand corner’s drop-down menu (where you logged in), or from the ‘Bonded’ tab on their wallet overview.
Need A Hand?
We’re here to help you with any questions you have around staking or managing your ICON wallets. For assistance with anything discussed above, please reach out to us via a support ticket on the ICON Discord server. Please disregard any unsolicited contact via direct messages around your ICON wallet, our team will always assist you through our ticket system.