Delegating your peaq tokens to a validator is a vital step in supporting the security and stability of the peaq network, whether you’re interacting through the EVM side or Substrate side of peaq. By delegating, you trust a validator to participate in the network consensus on your behalf, and in return, you may earn a share of the rewards. However, knowing how to choose a validator is crucial to maximizing your rewards and minimizing the risk of downtime, slashing, or other penalties. This guide provides a high-level strategy for deciding who to delegate to.

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Prerequisites

  • Basic Staking Knowledge: You understand the fundamental concepts of staking and how it supports the blockchain network by securing and validating transactions.
  • Wallet Setup: You have a compatible wallet for the peaq network, with some peaq tokens available to stake. This could be a Substrate-compatible wallet (e.g., Polkadot.js) or an EVM-compatible wallet (e.g., MetaMask) depending on which chain you’re interacting with.
  • Network Familiarity: You know how to access relevant blockchain explorers (e.g., Subscan) to view validator statistics or use the peaq portal staking dashboard.
  • Risk Tolerance: You understand that there is risk in choosing a validator, especially if they have poor performance or if they are penalized for misbehavior.

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Instructions

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1. Research Validators

  • Official Sources: Start by looking for an official validator list from peaq’s portal or by querying the CandidatePool under Chain State in Polkadot.js . The portal (at this time) only shows validators in the active set, whereas the Polkadot.js CandidatePool will return the entire list of potential validators considered for candidacy in the active set of validators.
  • Community Reputation: Visit peaq’s community forums or social channels ( Discord ) to get a sense of which validators are well-regarded. Word-of-mouth recommendations can be valuable, especially if these validators have a history of reliable performance.
  • Block Explorer Metrics: Use a block explorer (e.g., Subscan’s Staking page) to check each validator’s uptime, total stake, commission rate, performance, and slashing history. You may also view their performance statistics by viewing peaq’s Telemetry.

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2. Evaluate Key Factors

  • Commission Rate: Validators charge a commission rate (a percentage of your rewards that they keep). A lower commission can mean higher rewards for delegators, but extremely low commissions aren’t always optimal if they come with higher risk or less reliable infrastructure.
  • Uptime and Performance: Prioritize validators with near 100% uptime and consistent performance. Frequent downtime can reduce rewards and even trigger slashing events.
  • Slashing History: Avoid validators with a history of slashing events or repeated misbehavior, as they put your stake at greater risk.
  • Stake Distribution: Check if the validator already has a large share of the network stake. While popular validators may appear safer, it’s good for the network to spread stake across multiple validators to maintain decentralization.
  • Validator’s Infrastructure: Look for validators with robust infrastructure (e.g., cloud or dedicated servers, backups, monitoring tools). Although the details might not be publicly visible, many validators share information about their setup in community forums or on their websites.

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3. Create a Shortlist

  • Cross-Reference Data: After you gather performance metrics and read community feedback, narrow down your list to a few validators that best align with your preferences (low commission, good reputation, reliable performance).
  • Balance Your Stake: Consider delegating across multiple wallets / validators to spread your risk. If one validator has issues, your stake on the other wallet(s) / validator(s) can continue earning rewards.

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4. Delegate Your Tokens

  • Access the Staking UI:
    • Substrate: Use the native Substrate staking UI (e.g., Polkadot.js) to bond your peaq tokens and select your chosen validator(s).
    • EVM: Use an EVM-compatible wallet (e.g., MetaMask or another Web3 interface) to delegate your tokens through the peaq EVM portal.
  • Confirm Bonding & Delegation: Follow the on-screen instructions to specify the amount of peaq tokens you want to delegate. Double-check you’re delegating to the correct validator addresses.
  • Monitor Your Delegation: Track your delegation on the block explorer or staking dashboard. Ensure that your chosen validator remains active and continues providing good performance.

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5. Monitor and Adjust

  • Ongoing Monitoring: Keep an eye on the validator’s health, performance, and commission changes. If you notice a decline in performance or a spike in commission rate, consider re-delegating to another validator.
  • Stay Informed: Be active in the community channels for any announcements regarding network upgrades, validator misbehavior, or new validator opportunities.

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Summary

Choosing the right validator for your peaq token delegation is both an art and a science. By researching validator performance, commission rates, uptime, and history, you significantly improve your chances of earning consistent rewards while supporting a healthy, decentralized network. Always remember that validator reliability can shift over time, so it’s wise to monitor and adjust your delegations as needed. Following these steps on both Substrate-based and EVM-based peaq networks will help you strike a balance between maximizing rewards and minimizing risk, ultimately fostering a more secure and robust ecosystem.