Elrond Network Phase 3 — Warm-up.
After yesterday’s mainnet upgrade, Phase 3 — Open Delegation is just around the corner!
What is this Phase 3.. ?
Currently, there are 2.169 nodes in the network, each one with 2.500 $EGLD staked. The total amount $EGLD staked is 5.422.400 $EGLD. Apart from these, at the time of this writing, there are still around 2.000.000 $EGLD in the Waiting List.
With Phase 3, the network can grow to a maximum of 3.200 nodes. Another benefit of Phase 3 is the fact that each node can now accept more than 2.500 $EGLD. We will call the minimum 2.500 $EGLD for each node “Base Stake” and the extra quantity per node, “TopUp Stake”.
The new network features will be enabled on March 26th, after 14:30 UTC.
Once the feaures are enabled, the Staking Providers will generate their individual Smart Contracts for delegation.
The quickest way to delegate, is by using a Delegation Dashboard (built by the Elrond Team). Our dashboard is available at staking.validblocks.com
Delegation will also be possible directly from the official wallet (wallet.elrond.com) and in Maiar, once all the smart contract details get indexed. The availability of these two methods does not have a specific time frame set yet, so it could be up to 24 hours later.
What can I do now ?
Well, you can get familiar with the process! We decided to offer you the chance to TEST the delegation, before March 26th.
Just create a Testnet Wallet and request some funds in our Telegram channel (Valid Blocks).
Once you’re done, simply login at staking-testnet.validblocks.com and start delegating. It’s as easy as 1–2–3!