Polkadot Redelegation Walkthrough
Your DOT becomes unavailable for 28 days (the unbonding period) when unstaking from a validator. After these 28 days, it becomes available in your wallet and you will become able to stake with another validator. During the 28 day unbonding period, your DOT do not generate rewards.
Trusted Node provides a simple redelegation feature for changing which validator you stake your DOT with, without having to go through the 28 day unbonding period.
Note: Users are not allowed to redelegate less than 28 days after the initial delegation.
The Redelegation process.
As you already have delegated to some validator, you probably have the Polkadot{.js} wallet browser extension already installed. If not, please follow the following steps:
1. Installing the Polkadot{.js} wallet
The Polkadot{.js} wallet extension is available in the Google Chrome store.
Click on “add to Chrome” and install the plugin.
2. Creating / Importing a new wallet
Once installed, you can either create a new wallet or import an existing one. To import an existing account, you will need your seed phrase or your private key. If you do not already have an existing account, click on “Create new account”.
Next, write down your seed phrase and store it in a secure location. Avoid taking screenshots or sending them by mail, as hackers could get their hands on it and steal the funds in your wallet.
That’s it, your wallet is now created and ready to receive funds.
3. Connecting your wallet on Trusted Node
To connect your wallet on Trusted Node, you simply need to click on “Connect wallet” on the Staking Portal page.
From there, a Polkadot{.js} wallet popup will appear and you simply have to click on “approve”. You will then be able to see your wallet address instead of the “connect wallet” button.
Now that your wallet is connected, you can start redelegating your tokens.
4. Redelegating your tokens
To do so, simply click on “STAKE” and a tab will open, displaying your balance on your wallet and your balance with another validator node, if you have any existing delegations. You can then decide to redelegate to Trusted Node by clicking “RESTAKE”
Choose the validator you already staked with and click “RESTAKE”
Enter the amount of DOT you want to redelegate and click “RESTAKE”
That’s it! You just redelegated your DOT on Trusted Node and you are already accumulating rewards!!
About Trusted Node
Trusted Node is a proof-of-stake and next-generation blockchains validator network. It allows for professional stewardship of the network while providing yields to stakeholders who participate in the decision-making around nodes in the network infrastructure.
