Delegate MINA and Get an Optimized Annual Yield

Leverage the Mina supercharged reward feature

Supercharged rewards for unlocked accounts

Redundant nodes for the highest uptime

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Automatically yield increase, interest optimization, and custom notifications

MINA

delegate-mina-protocol.com engagements

Responsible block producer that provides a fair, transparent, and secure staking-as-a-service for Mina holders. 

Your NET Expected Yield Rate

%

Fully unlocked 🔑

%

🔒Time-locked accounts

(based on Mina targeted inflation rate)

Ongoing inflation is generated via block rewards, which get paid to block producers via each successful block’s coinbase transaction. The Mina Foundation has proposed the below block reward schedule and inflation targets for the minting of MINA tokens beyond the Initial Distribution:

MONTHS FROM LAUNCH INFLATION TARGET
0-23 12%
24-29 11%
30-35 10%
36-41 9%
42-47 8%
48 onwards 7%

During the first two years, a time-locked wallet delegating to our pool has an expected yield rate equals to the inflation rate less our fees  (5%):

time_locked_expected_yield_rate = 0.12 x (1- 0.05) 
time_locked_expected_yield_rate = 0.1140 = 11.40%

Mina Foundation has decided to provide extra block rewards( i.e. Supercharged Rewards) to block producers that stake with unlocked tokens during the first 15 months after launch.

MONTHS FROM LAUNCH SUPERCHARGED YIELD TARGET
0-5 24%
6-8 21%
9-11 18%
12-14 15%
time_locked_expected_yield_rate = 0.24 x (1- 0.05) 
time_locked_expected_yield_rate = 0.228 = 22.80%

(Genesis date: 2021-03-17 01:00:00)

Source: Mina Token Distribution and Supply

Delegation Address

Use this public key to delegate to our block producer
B62qmM9KDeqvu3TVpQStGJARgg7KppxE8UF3xMdtKV9TDc33kSUGug5

Delegate an account

Two minutes of your time if you have a non-custody Mina wallet.

1. Delegate your stake

Delegating with Mina is a no-brain call since it only gives advantages

  • produce passive interest
  • no slashing
  • no bonding

We present here the two easiest ways to delegate, the first using a Ledger Nano S, the second with the Mina client.

 

💡 If you want to (re)delegate but all of your MINAs are locked, we’ll cover the delegation transaction fees. Just write us your MINA public_key, we’ll send you 0.1 MINA within the next 24 hours.

1a. [Auro Wallet] Delegate your stake

Once logged on your clor.io wallet:

  1. Click on “Staking” on the bottom menu
  2. then click on the “Go to staking link”
Delegate using the Auro Wallet Setp 1
  1. Check delegate-mina-protocol.com chechbox (you can search us by public_key B62qmM9KDeqvu3TVpQStGJARgg7KppxE8UF3xMdtKV9TDc33kSUGug5 or name delegate-mina-protocol)
  2. Click next
  3. Validate the delegation with the Auro wallet
Delegate using the Auro Wallet Setp 3 and 4

1b. [Clor.io Wallet] Delegate your stake

Once logged on your clor.io wallet:

  1. select “Staking Hub” on the left menu
  2. then scroll the list and click the “Delegate” button under delegate-mina-protocol validator (you can use Ctrl+f and search for delegate-mina-protocol to find us easily)
  3. validate the delegation with the clor.io wallet
Delegate using the Clor.io Wallet

1c. [StakingPower Wallet] Delegate your stake

Once logged on your StakingPower wallet:

  1. Click “Stake” on the bottom menu
  2. Select the account to delegate

Step 1 and 2 select your account

  1. Click on “Select a staking provider”
Step 3 click on select a staking provider
  1. Click on the delegate-mina-protocol line (it could appear like this: delegate-mina… B62qm…UGug5. Avoid clicking on the link which lead to our website.)
Step 4 choose delegate-mina-protocol
  1. Set the Network fee
  2. Click on “Send”
step 5 and 6 click on send
  1. Confirm and validate your delegation on your StakingPower wallet
Step 7 confirm and validate your transaction

1d. [Ledger Nano S + command line] Delegate your stake

Prerequisites: Install the Ledger Mina app following the official documentation. (if you already did it, check that you have the latest version installed)

In the following steps, we will assume that you have generated a keypair and deposited your MINAs on this public key.

 

Step #1: Unlock your Ledger Nano S and open the Ledger Mina App

 

Step #2: Generate a delegation transaction offline:

mina_ledger_wallet delegate  <YOUR_BIP44_ACCOUNT>   <YOUR_LEDGER_PUBLIC_KEY> B62qmM9KDeqvu3TVpQStGJARgg7KppxE8UF3xMdtKV9TDc33kSUGug5 --fee 0.01 --nonce 0 --offline

Replace the following fields

* <YOUR_BIP44_ACCOUNT>: the number account used to generate your address

* <YOUR_LEDGER_PUBLIC_KEY>: your generated public key

* –nonce is set at 0 guessing it is your first transaction. Otherwise, use the nonce displayed at: https://minaexplorer.com/wallet/<YOUR_PUBLIC_KEY>

You will have to confirm the transaction on the console and the Ledger. You should get an output looking like this:

{
  "signature": "389ac7d4077f3d485c1494782870979faa222cd906b25b2687333a92f41e40b925adb08705eddf2a7098e5ac9938498e8a0ce7c70b25ea392f4846b854086d43",
  "payment": null,
  "stake_delegation": {
    "delegator": "<YOUR_LEDGER_PUBLIC_KEY>",
    "new_delegate": "B62qmM9KDeqvu3TVpQStGJARgg7KppxE8UF3xMdtKV9TDc33kSUGug5",
    "fee": "10000000",
    "nonce": "0",
    "memo": null,
    "valid_until": "1234567890"
  },
  "create_token": null,
  "create_token_account": null,
  "mint_tokens": null
}

Step #3: Copy the generated transaction and broadcast it to the network (past and send)

1e. [Mina Client] Delegate your stake

Unlock your wallet

coda account unlock -public-key <YOUR_MINA_PUBLIC_KEY>

Run the delegate command (you may need to adjust the fee)

coda client delegate-stake -receiver B62qmM9KDeqvu3TVpQStGJARgg7KppxE8UF3xMdtKV9TDc33kSUGug5 -sender <YOUR_MINA_PUBLIC_KEY> -fee 0.1

(full instructions on Mina Website)

2. Enjoy

You’re set!

 

Anytime, our server produces a block while you have an active delegation to us, you get a share of the reward.

Note the reward distribution is made by the bloc producer. Since it is not handled at the protocol level, our node proceeds bulk reward transfers at low activity time to reduce fees.

Optimize Time-locked MINAs Yield

During the first 15 months, supercharged rewards bring unlocked MINAs yield up to 24%! 

BUT if you delegate from an address holding even a few time-locked MINAs, NONE of your tokens qualify for the supercharged yield.

However, you can move these tokens to a new address and get the supercharged yield. Here is how to proceed:

1. Create a new public key for your unlocked token

Choose the method you’re the most comfortable with to generate a keypair. 

For your funds’ security, never share your private key.

 

Then, you will use this new public key to hold unlocked MINAs and get supercharged rewards.

 

2a. [Mina Ledger App] Transfer your unlock tokens to this public key

Follow these instructions if you sent from a Ledger address to a new public key.

 

Step #1: Unlock your Ledger and open Mina Ledger App

 

Step #2: Generate an offline payment to your new/unlocked address

mina_ledger_wallet send-payment <YOUR_BIP44_ACCOUNT> <YOUR_LOCKED_PUBLIC_KEY> <YOUR_UNLOCKED_PUBLIC_KEY> <AMOUNT> --nonce <NONCE> --fee 0.01 --offline

* <YOUR_BIP44_ACCOUNT>: the account number of your sending address

* <YOUR_LOCKED_PUBLIC_KEY>: your sending address

* <YOUR_UNLOCKED_PUBLIC_KEY>: your new (unlocked) public key

* <AMOUNT>: the amount of unlocked MINAs to send

* <NONCE>: the nonce displayed here: https://devnet.minaexplorer.com/wallet/<YOUR_LOCKED_PUBLIC_KEY>

You will have to validate the transaction on the Ledger and the console. Then, you should have a transaction looking like this:

{
 "signature": "120b1cdfea6c55e53c1b375830b7477a6cc1ef9c5f1b8f9fb79ad6fe8200a9d3147a7a4deeb0392b3253ba015f7ed590041eb788cb13d6c15cb24962b987ef3f",
 "payment": {
 "to": "<YOUR_UNLOCKED_PUBLIC_KEY>",
 "from": "<YOUR_LOCKED_PUBLIC_KEY>",
 "fee": "10000000",
 "token": "1",
 "nonce": "<NONCE>",
 "memo": null,
 "amount": "<AMOUNT>",
 "valid_until": "1234567890"
 },
 "stake_delegation": null,
 "create_token": null,
 "create_token_account": null,
 "mint_tokens": null
}

Step  #3: Copy your transaction and broadcast it (past and send) to the network

2b. [Mina client] Transfer your unlock tokens to this public key

Follow these instructions if you want to transfer from a public key and you hold its private key.

 

Using the coda deamon (see all methods on the site), the first time you migth need to import you public/private key

coda accounts import -privkey-path ~/keys/my-wallet

Then unlock wallet

coda accounts unlock -public-key <LOCKED_PUBLIC_KEY>

Send  a payment to yourself

coda client send-payment -amount 10 -receiver <NEW_UNLOCKED_PUBLIC_KEY>  -fee 0.1 -sender <LOCKED_PUBLIC_KEY>

3. Delegate this new public key

Follow the previous process to delegate your new public key.

4. Repeat step #2 when new tokens get unlocked

We made a notification bot that will email you when you should do it.

Simply register with your time-locked public key and your email.

Time-locked MINAs notification bot

FAQ

Here are frequently asked questions about Mina protocol and delegating.

Why delegate to delegate-mina-protocol pool?

For 2 reasons:

1/ Our pool separates locked and unlocked addresses. It allows us to distribute rewards based on the actual mina’s yields. So, you get the interest you deserve instead of an approximation.

2/ delegate-mina-protocol pool runs 3 distinct block producers (nodes) to ensure the highest uptime.
With Mina, you can’t prevent your node to lose sync once in a while. Then, it usually takes 5 to 30 minutes to get synced again. Since block windows last 3 minutes, a server can easily miss a block production slot.
Our pool mitigates it by running three nodes with the same configuration. If one goes offline for any reason, the others can still produce a block and get rewarded.

What is the fee that delegate-mina-protocol pool applies?

Our fee is 5%. 

Mina does not handle fee and reward distribution at the protocol level. In other words, block producers (node validators) are entirely responsible for the reward distribution.

It is a considerable responsibility. We engage in doing it with honesty and transparency. 

We will fulfill this engagement by

  • announcing any fee increase here at least 2 months before it applies. Since it takes 2 epochs (about 1 month total) to make a delegation change effective, those disapproving the new fee would be able to comfortably re-delegate.  
  • answering any question through our contact channels.
  • implementing state of art in matters of security. We will never ask for your private key or any information that we should not have. We have a couple of services that need your email, be sure that we will only send emails you asked for. 

Also, you can subscribe to fee notification service here: 

Fee notification service

Email me if the fee

What is the supercharged coinbase?

During the first 15 months of mainnet, unlocked accounts will receive double the block rewards that locked accounts receive. This incentivizes participants new to the network and unlocked tokenholders to stay loyal to the ecosystem.

Source: Mina Token Distribution and Supply

How do you calculate payouts?

The node actually works as two distinct pools

  • standard_pool: for time-locked accounts
  • supercharged_pool: for those staking only unlock tokens

Each time our node produces a block, the Mina protocol indicates which delegating public key won the slot.

If it is a time-locked account, the reward goes in the standard_pool. Otherwise, the supercharged reward goes in the supercharged_pool.

When an epoch ends, each pool proceeds to reward distribution proportionally to delegations. (An epoch lasts about 2 weeks)

 

Why do we implement this payout?

We choose this approach because it has the following advantages:

  •  fairness: while complex weighted formulas are approximations that may injure either time-locked or unlocked token holders, our solution gives everyone its exact expected yield.
  • easy to use: when an account becomes unlock it enjoys a supercharged pool, no action required.
  • fees efficiency: it splits the server cost across a larger amount of delegations for a lower fee.

When do you transfer delegator rewards?

Mina does not proceed with delegator payout at the protocol level.

In other words, node operators have to handle the rewards distribution.

Our node producer proceeds payouts through a script that will execute after each epoch (~2 weeks). The frequency minimizes transaction fees at payout time.

 

To illustrate, let’s continue with the previous example and suppose that our node did produce 3 blocks during an epoch.

your_epoch_reward = 3 * your_block_reward - transaction_fee
your_epoch_reward = 3 * 104.45 - 0.1 = 313.25 MINAs

Transaction fees needed to send rewards back to delegators are charged a distribution time.

Note that it is preferable to pay it once an epoch rather than each time a block is mined. Especially when the pool grows it prevents transactions fees multiplication (remember that you will get smaller block rewards more frequently). This way, we limit transfer fees at payout time.

I want to change my delegation, will I lose rewards?

No, you will not. 

There is a latency of 2 epochs before your new delegation applies. During this period, you will keep earning rewards with your previous staking provider.

How does Mina implement slashing?

In Mina, anyone may become a block producer. There is an unbounded number of participants with the chance of producing a block proportional to the funds staked. Funds are not locked and are not subject to slashing.

In other words, your stake won’t be slashed if you delegate to a bad node. The worst scenario is that you could miss a reward. This happens when your block producer is down at mining time or if it doesn’t send you back your share.

Can you access my funds?

No, we can’t. 

We are just allowed to stake for you. You can use your funds or re-delegate at any time. You will stay in control of your MINAs, always. That’s why you must keep your private key secret. 

What is your block producer configuration?

On the security side, we delegate our funds from a cold wallet to the node’s hot wallet. As a result, even if a hacker accesses our server, he can’t access our funds or rewards. 

When it comes to performance and reliability, a leading VPS provider hosts our dedicated server. We get the greatest resiliency through top-notch architecture. Also, it provides both flexibility and reactivity when we need an upgrade.  

What is Coda?

Coda protocol is the former name of Mina protocol. 

That’s why some tools still use the coda name. 

I did receive a micropayment (less than 1.44 Mina). What does it mean?

A pool might not produce any block during an epoch.
We know that’s very frustrating for you and us! But that’s the way the Mina protocol and most PoS blockchains are designed.

When it occurs, starting at epoch 8, we will distribute one block reward divided by 1,000 to the pool.

We do it for two reasons:

1/ it lets you know that the epoch has been paid out
2/ when you multiply this payout by 1,000 you see how much winning one block would pay (given the current pool distribution)

I have other questions...

Please reach out to Al3c5 

Request a Feature or Stay in Touch

We have other innovations coming and we will keep providing the best yield.

Besides, we will evaluate partnerships that bring Mina investors and holders the best yield. Don’t hesitate to send your proposals.

If you share our excitement, tell us your points of interest, we’ll keep you informed!

 

PS: If you need 0.1 MINAs for the delegation fee, don’t forget to write your public_key.

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