Testnet update: Tokenomics Integration

After last week’s successful release of the Polkadex Testnet, it’s time to kick things up a notch.

Testnet wipe & Test Token reclaim

👋 Hey @polkadex I want to try staking Test Tokens on the Polkadex Testnet. Please send me some #PolkadexTestTokens to [ACCOUNT]! 📲

Helpful refresher and guide

What is staking?

What are the advantages of staking?

Are there staking rewards on Testnet?

How can you stake Test Tokens on the Polkadex Testnet?

Getting started

  1. Before you start staking you will need a Polkadot.js browser extension.
  2. Then you will need to create an account on the Polkadex Testnet. You can do that here.
  3. Once you have an account, you can use your account address to claim Test Tokens. In order to claim Test Tokens, tweet the following:
    👋 Hey @polkadex I want to try staking Test Tokens on the Polkadex Testnet. Please send me some #PolkadexTestTokens to [ACCOUNT]! 📲
    Make sure you have pasted in your Polkadex Testnet account/wallet address where it says [ACCOUNT].

Staking

  • 1) Select ‘Staking’ from the ‘Network’ drop-down menu and then click on ‘Account actions’
  • 2) Click the ‘+ Nominator’ button
  • 3) Select your controller account and your stash account. While these are recommended to be different accounts for fund security, they can also be the same account. Next, select the amount you want to ‘bond’
  • 4) Then, select which validator you want to nominate with your funds. While profitability is important, it is also important to nominate a validator you trust.
You can visit the ‘Overview’ tab in the Staking menu to see different validators’ commissions, points, and own stake.
  • 5) Search for your desired validator and select them. For the purpose of this demo, we have selected ClusterCuss, the first-ever Testnet validator from the Polkadex community.
  • 6) Once you’ve found your desired validator click the ‘Bond & Nominate’ button.
  • 7) Click ‘Sign and Submit’ and approve the transaction using your Polkadot.js wallet

How to run a validator node

Questions or feedback?

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