Guapcoin Cold Staking Instructions

You are here:
← All Topics

Detailed and developer documentation on Guapcoin coldstaking

Cold staking requires two Guapcoin wallets: one to hold the funds (this is typically a desktop GUI wallet and is called the owner wallet) and another one, the hot-node, to do the staking (this needs to be online 24/7, is called the staker wallet, and is typically a linux daemon wallet set up on the virtual private server or vps). The following instructions assumes that the owner wallet is a desktop GUI Guapcoin wallet (version 2.3.0 or later), and assumes that the staker wallet is a linux daemon wallet (version 2.3.0 or later) running on a vps. 

In order to setup cold-staking, you need to perform the following steps (either with the command-line interface CLI or with the graphical interface GUI):

  1. Generate a “staking address” from the staker wallet (The staker wallet is the hot node, typically running on a vps CLI wallet).
  2. Generate a “owner address” from the owner wallet (The owner wallet holds the funds and receives the rewards, typically running on a desktop GUI wallet).
  3. Create a “cold stake delegation” (The cold stake delegation is created on the desktop GUI wallet. Once a cold stake pair is created this step can be repeated to create more delegations).
  4. Whitelist the owner address on your staker (This step is done on the vps CLI wallet).

Once these steps are complete you will have a staker <-> owner pair such as below:

PSfojwncogWgLXt7nL35JtqYBAkJrKmu9t <-> GMxScYy1yKMfthg7POYzh5Mwd4G6a389ZV

(NOTE: These addresses are not real addresses; just examples of what a pair might look like)

To send more delegations, using the same addresses-pair, just replicate step 3 of this guide.

 

1) Generate a “staking address” from the staker wallet
Staking addresses must be owned by the staker wallet (the hot-node that is online 24/7 and holds no funds). The staking address will start with a “P”.

Use Command Line Interface (CLI)
To get a new staking address, from the staker wallet, run the following command:
guapcoin-cli getnewstakingaddressYou don’t need to create a new staking address for each delegation. You can reuse your previously generated addresses. To list them, do:
guapcoin-cli liststakingaddresses
Copy the staking address down. You will need later for step 3.
2) Generate an “owner address” from the owner wallet
Owner addresses are regular Guapcoin addresses and will start with a “G”. Their private key can be used to redeem delegated coins. Creating an owner address is the same as creating a receiving address. They must belong to the owner wallet (the one that has ownership of the coins). For purposes of these instructions it is assumed that the owner wallet is a Guapcoin wallet (version 2.3.0 or later).

Use the Desktop wallet (GUI)
To get a new owner address, click on “RECEIVE” along the left side to open the Receive tab, and click “Generate address”:

Guap Coldstake Step 2
Guap Coldstake Step 2

You don’t need to create a new owner address for each delegation. You can reuse your previously generated addresses.

3) Create a “cold stake delegation”
This is the main step. To delegate coins you need to send a special “delegation contract” transaction.
Use the Desktop wallet (GUI)
A. Make sure that coldstaking is enabled by clicking on the coldstake ‘snowflake’ button on the top right. If you can see the ‘COLD STAKING’ button along the left of screen then coldstaking is already enabled.
B. Click on “COLD STAKING” along the left side to open the Cold Staking tab. Then click “Delegation”.
C. As with the regular sending operation, you must select an amount and either let the wallet pick the coins, or select them with coin control.
D. Insert the staker address you generated in step 1 (or use a previously generated staker address), and then insert the owner address you generated in step 2 (or use a previously generated owner address).
E. Insert the amount that you want to delegate for coldstaking, then click “delegation”.
4) Whitelist the owner address on your staker
In order to stake delegations, the owner address must be whitelisted by the staker.


Additional Cold Staking functions

These are other commands that can be used via the debug console or guapcoin-cli.
Check the help for more info on each one.

  • getcoldstakingbalance
  • getdelegatedbalance
  • listcoldutxos