Update delegation to a baker pool or passive delegation#

You can change the delegation amount, target, and preferences on an account. You do not have to change all selections. For example, you might only want to change if rewards are restaked or not.

If you increase the delegation, the new amount will be applied at the start of the next pay day. There is one pay day every 24 hours. However, if you decrease the delegation, there is a cool-down period before the new stake is applied. During this period, you cannot stop delegation or change the amount, but you can change other delegation settings. After the cool-down period, the amount you’ve decreased the delegation by is returned to your disposable balance.

Before delegating stake to a baker pool, it is important to research the pool using CCDScan. You can only have one delegation per account.

Note

Any changes made in the last epoch before the upcoming pay day are applied not in the upcoming pay day but the pay day after that.

Note

All transfers and transactions cost a fee, including staking and unstaking transactions. The fee is based on the set NRG for that transaction and the current exchange rate. The cost of transaction fees is stable in Euros, and therefore the price in CCD varies depending on the CCD to EUR exchange rate. The fee will always be deducted from the Balance of the account, so it is important to have some available CCDs to cover fees. A locked-for-staking balance cannot be used to pay for these transactions. You can see the fee in the transaction log.

Warning

Make sure you have enough funds in your disposable balance to cover transaction fees.

  1. Go to Accounts and select the account on which you want to change your delegation preferences.

  2. Click More options then select Delegation and choose Update Delegation.

    ../../_images/dw-delegation-menu.png
  3. You can enter the baker ID of a different baker pool to delegate to or select passive if you prefer that. Click Continue.

    ../../_images/dw-update-delegation-target.png
  4. You can enter a new amount that you want to delegate and choose whether rewards should be redelegated or not. Click Continue.

    ../../_images/dw-update-delegation-stake.png
  5. A message says Waiting for device. Please connect your Ledger. Connect the Ledger device to the computer and enter your PIN on the Ledger device.

  6. Press the right button to navigate to the Concordium app, and then press both buttons to open the app. The Ledger says Concordium is ready. Wait for the message Ledger Nano S is ready or Ledger Nano S Plus is ready in the Desktop Wallet and select Submit.

  7. On the Ledger device, a message says Review transaction. Verify changes you made to any parameters; only changed parameters are shown. Navigate to the right to verify each parameter change.

  8. The Ledger device says Sign transaction. Press both buttons to sign the transaction. The Ledger device says Concordium is ready.

  9. In the Desktop Wallet, you can see that the transaction has been submitted to the chain. Select Finish.

Once the transaction is finalized, the delegation update is effective from the next pay day for most transactions, except reducing your stake.

Note

Reducing your stake in any pool results in a longer cool-down period. The delegation amount will be locked during this period and no changes can be made to the amount. The reduction in stake is not effective until the first pay day after the cool-down period ends. During the cool-down period the staked amount continues earning rewards.