To become a validator, there are a few important steps to keep in mind:
Deploy and Synchronize The Node: Make sure the node is deployed and fully synchronized. The node can be seen as ready when the status shows as "running" after full synchronization.
Check the Active Set of Validators: Take a moment to verify the active set of validators. Keep in mind that there may be a limit on the number of validators allowed. If the active set is already full, ensure that your overall delegation exceeds the lowest validator's delegation by at least 1 to qualify for the active set.
Remember the Changing Active Set: The active set may change in size over time. Stay informed about any fluctuations to adapt your strategy accordingly.
Once you're ready to register as a validator, follow the steps below:
Go to the Navigation panel on the left and select "Overview." You will see a list of your nodes. Choose the node you wish to register as a validator.
Download your encrypted mnemonic and ensure you keep it securely. Do not share it with anyone.
The next step is to use a decryption tool. The tool will prompt you to input your downloaded encrypted mnemonic file and the previously generated account Private key (generated after account registration).
Once you've successfully decrypted your mnemonic, you can proceed to restore it in the Keplr wallet extension. Before doing so, ensure that you have some coins on this wallet address to cover the fees associated with registering as a validator.
NB: In the next step of registering as a validator, opening our project's technical guide is highly recommended. Specifically, navigate to the "Node operations" section, as certain values and parameters may differ from other projects.https://docs.mycointainer.com/nodes/supported-nodes
Next, select “Operations” and select the “Register validator” option.
A window with the following fields will appear:
Moniker - Your validator's name (Mandatory - Refer to our technical guide)
Website - Your website address (Optional)
Security-Contact - Your contact email address (Optional)
Identity - It is https://keybase.io/ user id, which allows you to upload your logo to your validator (Optional)
Amount – The number of coins you wish to delegate during registration (Mandatory - Refer to our technical guide).
Commission-Max-Change-Rate – The maximum percentage by which you can adjust your commission within 24 hours (Mandatory - Refer to our technical guide).
Commission-Max-Rate – The maximum percentage cap for commission increases (Mandatory - Refer to our technical guide)
Commission-Rate – The actual commission percentage your validator will take (Mandatory - Refer to our technical guide).
Min-Self-Delegation – The minimum self-delegation amount for your validator (Mandatory - Refer to our technical guide).
Fees & Gas – You can set the maximum network fees you are willing to pay for registering as a validator, but leaving it blank is recommended as it will be automatically calculated based on current network fees (Optional)