Change baker options

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

Transactions on the blockchain can’t be reversed or deleted. They will always exist on the blockchain. Therefore, carefully review transactions before submitting.

The following information describes how to access baker settings to update your stake or restaking preference, to open and manage a baker pool, update baker keys, or stop baking.

The steps to get to these settings differ between Concordium Wallet for Mobile and Concordium Legacy Wallet. They are described below.

Concordium Wallet for Mobile

1. You can either: tap on the account you want to delegate from in the Accounts page, or tap on an account card and tap on the account transaction overview screen.

2. In the Baker status screen tap Update baker settings.

   

Concordium Legacy Wallet

1. Go to Accounts. Tap on the balance area of the baker account you want update or tap More .

2. In the hamburger menu tap Baking.

3. In the Baker status screen tap Update baker settings.

   

Once you have access baker settings for your wallet, you have four options:

• Update baker stake

• Update pool settings

• Update baker keys

• Stop baking

Update baker stake and restaking preference

You can change the staked amount on a baker account except during a cool-down period. If you increase the stake, the new stake takes effect at the next pay day. If the change is made in the last epoch before pay day, then the change will not occur until the following pay day. However, if you decrease the stake, there is a longer cool-down period of three weeks before the new stake is applied. During this period, you’ll not be able to remove the baker account or further update the stake. After the cool-down period, the amount you’ve decreased the stake with is returned to your disposable balance at the next pay day.

When you change the stake it can influence your chance of being selected to bake a block and receive baker rewards and of being included in the finalization committee. If you decrease the stake, you decrease your chances of baking blocks and of being included in the finalization committee. Likewise, if you increase the stake, you increase your chances of baking a block and of being included in the finalization committee.

Concordium Wallet for Mobile and Concordium Legacy Wallet

If you choose Update baker stake you see your balance and the current Baker stake amount. Enter the amount you want to stake. This is the full amount to stake and is not added to the existing stake. You can also choose to adjust your restake setting between Yes, restake rewards or No, don’t restake rewards. Tap Continue.

On the overview screen, check the information. Once you are satisfied, tap Submit baker transaction.

Once the transaction is submitted you see a confirmation screen. Tap Finish to complete the action.

Note

Reducing your stake results in a longer cool-down period. The staked amount will be locked during this period and cannot be increased or decreased; you can still change restaking preferences during cool-down. The stake reduction is not effective until the next pay day after cool-down period ends. During the cool-down period the staked amount continues earning rewards.

Desktop Wallet

Single signature account

1. Go to Accounts and select the account whose baker stake you want to change.

2. Click More options and select Baking.

3. Click Update baker stake.

   

4. Enter the new amount that you want to stake if you want to change the amount. Change the restaking preference if you want to change that. Click Continue.

   

Note

If you reduce the staked amount, a cool-down period applies.

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 device 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 that the sender account is correct and navigate to the right. The LEDGER device says Update stake to and then the amount you’re going to update the stake to. Navigate to the right.

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.

Multi signature account

1. Go to Multi Signature Transactions, select Make new proposal, and then select Update baker stake.

2. Select the account whose baker stake you want to change.

3. Enter the new amount that you want to stake if you want to change that. Change the restaking preference if you want to change that. Click Continue.

4. Set an expiry date and time for your proposal. Consider this when you set the expiry time so that the co-signers can return their signatures in time. Select Continue. You can now generate the transaction.

Generate the transaction

There are two ways that you can generate the transaction:

• Generate the transaction without signing. This option enables you to export the transaction proposal without signing it. You don’t need a LEDGER device but you do need an internet connection.

• Generate and sign the transaction This option requires a LEDGER device and an internet connection.

In combination, these two options enable you to distribute the responsibility of creating and signing transfers among more people. You can, for example, have one person create the proposal and another one sign the proposal. It also makes it possible for you to sign the transaction on the LEDGER device in a different location than where the proposal was created.

Generate the transaction without signing

1. Verify that the Transaction details are as you intended, and then select I am sure that the proposed changes are correct.

2. Select Generate without signing. You can now export the proposal.

Generate and sign the transaction on the LEDGER

1. If you haven’t connected the LEDGER device, there’s a message in the Desktop Wallet saying Waiting for connection until you connect the LEDGER device. Enter your PIN code on the LEDGER device. Press the buttons above the up and down arrows to choose a digit, and then press both buttons to select the digit.

2. Wait for the message in the Desktop Wallet saying Open the Concordium application on your Ledger Nano S or Open the Concordium application on your Ledger Nano S Plus. On the LEDGER device, press the right button to navigate to the Concordium app, and then press both buttons to open the app. The LEDGER device says Concordium is ready. Wait for the message in the Desktop Wallet saying LEDGER device is ready.

3. In the Desktop Wallet, Verify that the Transaction details are as you intended, select I am sure that the proposed changes are correct, and then select Generate and Sign.

4. On the LEDGER device, there’s a message saying Review transaction. Verify that the sender account is correct, and navigate to the right. The LEDGER device says Update stake to and then the amount you’re going to update the stake to. Navigate to the right.

5. The LEDGER device says Sign transaction. Press both buttons to sign the transaction. The LEDGER device says Concordium is ready.

Note

If you want to decline the transaction, press the right button on the LEDGER devuce. The hardware wallet now says Decline to sign transaction. Press both buttons to decline. In the Desktop Wallet, there’s a message saying The action was declined on the Ledger device. Please try again.

In the Desktop Wallet, you can now see Transaction details, Signatures, and Security & Submission Details, which include the status of the transaction, the identicon, and the transaction hash. If you have all the required signatures, you can submit the transaction to the chain, otherwise, you’ll have to export the proposal and receive signatures from the co-signers.

Export proposal

If more than one signature is needed to sign off on the proposal, you have to share a file of the type JSON, which contains the transaction information, with the co-signers.

1. In the Desktop Wallet, select Export transaction proposal.

2. Navigate to the location on your computer where you want to save the file. If you’re on Windows make sure that All Files is selected in Save as type. Give the file a name and the extension .json, and then click Save.

3. You have to export the transaction proposal and send it to the co-signer through a secure channel. Optionally, you can also send the Identicon to the co-signers through a different secure channel.

Receive signatures from co-signers

When the co-signers have signed the transaction, they return the signed transaction proposal to you, and you have to import the files into the Desktop Wallet before you can submit the transaction to the chain.

1. If you’re still on the same page, go to step 3. If you left the page with the account transaction, go to Multi-signature Transactions, and then select Your proposed transactions.

2. Select the transaction that you want to submit to the chain. You can see an overview of the transaction details and an overview of the signatures. You can also see that the status of the transaction is Unsubmitted, and you can see the identicon and the transaction hash.

3. Select Browse to file and then navigate to the location on your computer where you saved the signed transaction files. Select the relevant files, and then select OK. The files are uploaded to the Desktop Wallet and added to the list of signatures. Alternatively, you can drag and drop the signature files from their location on the computer and onto the Desktop Wallet.

Submit the transaction to the blockchain

When you have received and added all the required signatures, you can submit the transaction to the blockchain.

1. Review the transaction details carefully to ensure that all information is correct.

2. Select I understand this is the final submission and that it cannot be reverted.

   If you don’t want to submit the transaction to the chain, you can select Cancel. The proposal is no longer active. However, it is still visible in the list of proposals.

3. Select Submit transaction to chain. The transaction is submitted to the chain and finalized on the ledger.

4. Select Finish to leave the page.

Update pool settings

Concordium Wallet for Mobile and Concordium Legacy Wallet

If you choose Update pool settings, you have three options:

• Open pool: open a pool for a previously closed baker

• Closed for new: close the pool to new delegators. Existing delegators are not affected. You might do this when, for example, the pool is close to meeting one or both of the bounding caps. It is the baker’s responsibility to monitor the stake to make pool management decisions.

• Close pool: close a pool permanently.

If you choose Open pool:

1. You can optionally enter a URL with information about your baker to give delegators more information about your baker pool to help them research baker pools. This information is not shared in the case of a closed baker.

2. In the Update pool settings overview screen review the information then tap Submit delegation transaction.

3. The Concordium Wallet for Mobile or Concordium Legacy Wallet shows that the transaction has been submitted to the chain. Tap Finish. Once the transaction is approved, the active baker screen appears where you have the possibility to update baker settings.

If you choose Closed for new:

Existing delegators remain in the pool. You have the option to adjust commission fees and your baker information URL.

1. Enter an optional URL with information about your baker to give delegators more information about your baker pool to help them research baker pools. This information is not shared in the case of a closed baker.

2. In the Update pool settings overview screen review the information then tap Submit delegation transaction.

3. The Concordium Wallet for Mobile or Concordium Legacy Wallet shows that the transaction has been submitted to the chain. Tap Finish. Once the transaction is approved, the active baker screen appears where you have the possibility to update baker settings.

If you choose Close pool:

This closes the pool completely for both existing delegators and new delegators.

1. In the Update pool settings overview screen review the information then tap Submit delegation transaction.

2. The Concordium Wallet for Mobile or Concordium Legacy Wallet shows that the transaction has been submitted to the chain. Tap Finish. Once the transaction is approved, the active baker screen appears where you have the possibility to update baker settings.

Desktop Wallet

Single signature account

1. Go to Accounts and select the account on which you have a baker pool that you want to update and click More options.

2. Select Baking.

3. Click Update baker pool.

   

4. Choose the status for your baker pool if you want to change its status and click Continue. If you do not want to change the status, click Continue. Options are:

   • Open: open your baker pool to delegators.

   • Closed for new: close the baker pool to new delegators. Existing delegators remain in the pool.

   • Closed for all: close the pool for all delegators.

   

5. Review the commission rates. Click Continue.

   

6. Enter your Baker metadata URL if you want to provide this information to potential delegators. This is optional. Click Continue.

   

7. 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.

8. Press the right button to navigate to the Concordium app, and then press both buttons to open the app. The LEDGER device 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.

9. On the LEDGER device, a message says Review transaction. Verify that the sender account is correct and navigate to the right. Verify that the LEDGER device shows the correct amount to delegate and navigate to the right. Verify that the restake preference is correct and navigate to the right. Verify that the delegation target is correct and navigate to the right.

10. The LEDGER device says Sign transaction. Press both buttons to sign the transaction. The LEDGER device says Concordium is ready.

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

Multi signature account

1. Go to Multi Signature Transactions, select Make new proposal, and then select Update baker pool.

2. Choose the status for your baker pool if you want to change its status and click Continue. If you do not want to change the status, click Continue. Options are:

   • Open: open your baker pool to delegators.

   • Closed for new: close the baker pool to new delegators. Existing delegators remain in the pool.

   • Closed for all: close the pool for all delegators.

3. Review the commission rates. Click Continue.

4. Enter your Baker metadata URL if you want to provide this information to potential delegators. This is optional. Click Continue.

5. Set an expiry date and time for your proposal. Consider when you set the expiry time so that the co-signers can return their signatures in time. Select Continue. You can now generate the transaction.

Generate the transaction

There are two ways that you can generate the transaction:

• Generate the transaction without signing. This option enables you to export the transaction proposal without signing it. You don’t need a LEDGER device but you do need an internet connection.

• Generate and sign the transaction This option requires a LEDGER device and an internet connection.

In combination, these two options enable you to distribute the responsibility of creating and signing transfers among more people. You can, for example, have one person create the proposal and another one sign the proposal. It also makes it possible for you to sign the transaction on the Ledger in a different location than where the proposal was created.

Generate the transaction without signing

1. Verify that the Transaction details are as you intended, and then select I am sure that the proposed changes are correct.

2. Select Generate without signing. You can now export the proposal.

Generate and sign the transaction on the LEDGER device

1. If you haven’t connected the LEDGER device, there’s a message in the Desktop Wallet saying Waiting for connection until you connect the LEDGER device. Enter your PIN code on the LEDGER device. Press the buttons above the up and down arrows to choose a digit, and then press both buttons to select the digit.

2. Wait for the message in the Desktop Wallet saying Open the Concordium application on your Ledger Nano S or Open the Concordium application on your Ledger Nano S Plus. On the LEDGER device, press the right button to navigate to the Concordium app, and then press both buttons to open the app. The LEDGER device says Concordium is ready. Wait for the message in the Desktop Wallet saying LEDGER device is ready.

3. In the Desktop Wallet, Verify that the Transaction details are as you intended, select I am sure that the proposed changes are correct, and then select Generate and Sign.

4. On the LEDGER device, there’s a message saying Review transaction. Verify that the sender account is correct and navigate to the right. Verify that the LEDGER device shows the correct amount to delegate and navigate to the right. Verify that the restake preference is correct and navigate to the right. Verify that the delegation target is correct and navigate to the right.

5. The LEDGER device says Sign transaction. Press both buttons to sign the transaction. The LEDGER device says Concordium is ready.

Note

If you want to decline the transaction, press the right button on the LEDGER device. The LEDGER device now says Decline to sign transaction. Press both buttons to decline. In the Desktop Wallet, there’s a message saying The action was declined on the Ledger device. Please try again.

In the Desktop Wallet, you can now see Transaction details, Signatures, and Security & Submission Details, which include the status of the transaction, the identicon, and the transaction hash. If you have all the required signatures, you can submit the transaction to the chain, otherwise, you’ll have to export the proposal and receive signatures from the co-signers.

Export proposal

If more than one signature is needed to sign off on the proposal, you have to share a file of the type JSON, which contains the transaction information, with the co-signers.

1. In the Desktop Wallet, select Export transaction proposal.

2. Navigate to the location on your computer where you want to save the file. If you’re on Windows make sure that All Files is selected in Save as type. Give the file a name and the extension .json, and then click Save.

3. You have to export the transaction proposal and send it to the co-signer through a secure channel. Optionally, you can also send the Identicon to the co-signers through a different secure channel.

Receive signatures from co-signers

When the co-signers have signed the transaction, they return the signed transaction proposal to you, and you have to import the files into the Desktop Wallet before you can submit the transaction to the chain.

1. If you’re still on the same page, go to step 3. If you left the page with the account transaction, go to Multi-signature Transactions, and then select Your proposed transactions.

2. Select the transaction that you want to submit to the chain. You can see an overview of the transaction details and an overview of the signatures. You can also see that the status of the transaction is Unsubmitted, and you can see the identicon and the transaction hash.

3. Select Browse to file and then navigate to the location on your computer where you saved the signed transaction files. Select the relevant files, and then select OK. The files are uploaded to the Desktop Wallet and added to the list of signatures. Alternatively, you can drag and drop the signature files from their location on the computer and onto the Desktop Wallet.

Submit the transaction to the blockchain

When you have received and added all the required signatures, you can submit the transaction to the blockchain.

1. Review the transaction details carefully to ensure that all information is correct.

2. Select I understand this is the final submission and that it cannot be reverted.

   If you don’t want to submit the transaction to the chain, you can select Cancel. The proposal is no longer active. However, it is still visible in the list of proposals.

3. Select Submit transaction to chain. The transaction is submitted to the chain and finalized on the ledger.

4. Select Finish to leave the page.

Note

Closing a pool does not mean that baking stops. You continue baking but only using your own stake. If you wish to stop baking, you must stop baking.

Update baker keys

If you believe your baker keys have been compromised or lost, you can generate new baker keys. It is important to remember to update your baker keys on your node once you have exported them.

Concordium Wallet for Mobile and Concordium Legacy Wallet

1. If you choose Update baker keys, after the screens explaining reasons for updating baker keys, you see the new baker keys. Tap Export baker keys and navigate to the place on your device where you want to save the file.

   

Warning

This is the only time that you can export the credentials. If you’re going to transfer the baker keys to someone else, make sure to do so through a secure channel. Generate new keys if you believe the keys have been compromised or lost.

2. Once you have saved the keys, review the information on the overview screen of the add baker transaction then tap Submit baker transaction.

3. The Concordium Wallet for Mobile or Concordium Legacy Wallet shows that the transaction has been submitted to the chain. Tap Finish. Once the transaction is approved, the active baker screen appears where you have the possibility to update baker settings.

4. You need to import your baker keys file to your node in order to start baking with the new keys. It is preferable to update them on the node as close to pay day as possible to prevent the node from being down as a baker for a longer time.

   • Windows

   • macOS

   • Docker

   • Ubuntu

Desktop Wallet

Single signature account

1. Go to Accounts, select the account whose baker keys you want to update.

2. Click More options and select Baking.

3. Click Update baker keys.

   

4. You have to export the baker credentials so that you can restart the node with the new baker keys. Select Export baker credentials. If you’re running Windows make sure that All Files is selected in Save as type. Give the file a name and the extension .json, and then click Save and navigate to the place on your computer where you want to save the file.

   

Warning

This is the only time that you can export the credentials. If you’re going to transfer the baker keys to someone else, make sure to do so through a secure channel.

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 device 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 click Submit.

7. On the LEDGER device, a message says Review transaction. Verify that the sender account is correct and navigate to the right. The LEDGER device says Update baker keys. Navigate to the right.

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.

Multi signature account

1. Go to Multi Signature Transactions, and select Make new proposal, and then select Update Baker Keys.

2. Select the Account whose baker keys you want to update, and then select Continue. Only baker accounts are listed.

3. Set an expiry date and time for your proposal. You must set the expiry time so that the co-signers can return their signatures in time. Select Generate keys.

The baker keys are generated and you can view the transaction details in the left pane. You can see the identity, the account, and the expiry time of the transaction. You can also see the public baker keys.

1. You have to export the baker credentials so that you can restart the node with the new baker keys. Select Export baker credentials. If you’re on Windows make sure that All Files is selected in Save as type. Give the file a name and the extension .json, and then click Save and navigate to the place on your computer where you want to save the file.

Warning

This is the only time that you can export the credentials. If you’re going to transfer the baker keys to someone else make sure to do so through a secure channel.

Generate the Transaction

There are two ways that you can generate the transaction:

• Generate the transaction without signing. This option enables you to export the transaction proposal without signing it. You don’t need a LEDGER device but you do need an internet connection.

• Generate and sign the transaction on the LEDGER device. This option requires a LEDGER device and an internet connection.

In combination, these two options enable you to distribute the responsibility of creating and signing transfers among more people. You can, for example, have one person create the proposal and another one sign the proposal. It also makes it possible for you to sign the transaction on the Ledger in a different location than where the proposal was created.

Generate the transaction without signing

1. Verify that the Transaction details are as you intended, and then select I am sure that the proposed changes are correct.

2. Select Generate without signing. You can now export the proposal.

Generate and sign the transaction on the LEDGER device

1. If you haven’t connected the LEDGER device, there’s a message in the Desktop Wallet saying Waiting for connection until you connect the LEDGER device. Enter your PIN code on the LEDGER device. Press the buttons above the up and down arrows to choose a digit, and then press both buttons to select the digit.

2. Wait for the message in the Desktop Wallet saying Open the Concordium application on your Ledger Nano S or Open the Concordium application on your Ledger Nano S Plus. On the LEDGER device, press the right button to navigate to the Concordium app, and then press both buttons to open the app. The LEDGER device says Concordium is ready. Wait for the message in the Desktop Wallet saying LEDGER device is ready.

3. In the Desktop Wallet, Verify that the Transaction details are as you intended, select I am sure that the proposed changes are correct, and then select Generate and Sign.

4. On the LEDGER device, there’s a message saying Review transaction. Verify that the sender account is correct, and navigate to the right. The LEDGER device says Update baker keys. Navigate to the right.

5. The LEDGER device says Sign transaction. Press both buttons to sign the transaction. The LEDGER device says Concordium is ready.

Note

If you want to decline the transaction, press the right button on the LEDGER device. The hardware wallet now says Decline to sign transaction. Press both buttons to decline. In the Desktop Wallet, there’s a message saying The action was declined on the Ledger device. Please try again.

In the Desktop Wallet, you can now see Transaction details, Signatures, and Security & Submission Details, which include the status of the transaction, the identicon, and the transaction hash. If you have all the required signatures, you can submit the transaction to the chain. Otherwise, you’ll have to export the proposal and receive signatures from the co-signers.

Export a transaction proposal

If more than one signature is needed to sign off on the proposal, you have to share a file of the type JSON, which contains the transaction information, with the co-signers.

1. In the Desktop Wallet, select Export transaction proposal.

2. Navigate to the location on your computer where you want to save the file. If you’re on Windows make sure that All Files is selected in Save as type. Give the file a name and the extension .json, and then click Save.

3. You have to export the transaction proposal and send it to the co-signer through a secure channel. Optionally, you can also send the Identicon to the co-signers through a different secure channel.

Receive signatures from co-signers

When the co-signers have signed the transaction, they return the signed transaction proposal to you, and you have to import the files into the Desktop Wallet before you can submit the transaction to the chain.

1. If you’re still on the same page, go to step 3. If you left the page with the account transaction, go to Multi-signature Transactions, and then select Your proposed transactions.

2. Select the transaction that you want to submit to the chain. You can see an overview of the transaction details and an overview of the signatures. You can also see that the status of the transaction is Unsubmitted, and you can see the identicon and the transaction hash.

3. Select Browse to file and then navigate to the location on your computer where you saved the signed transaction files. Select the relevant files, and then select OK. The files are uploaded to the Desktop Wallet and added to the list of signatures. Alternatively, you can drag and drop the signature files from their location on the computer and onto the Desktop Wallet.

Submit the transaction to the blockchain

When you have received and added all the required signatures, you can submit the transaction to the blockchain.

1. Review the transaction details carefully to ensure that all information is correct.

2. Select I understand this is the final submission and that it cannot be reverted.

   If you don’t want to submit the transaction to the chain, you can select Cancel. The proposal is no longer active but still visible in the list of proposals.

3. Select Submit transaction to chain. The transaction is submitted to the chain and finalized on the ledger.

4. Select Finish to leave the page.

Stop baking

If you remove a baker, the node that is configured with the baker keys will stop baking after a cool-down period of three weeks. During this period, you’ll not be able update the stake. After the cool-down period, the amount that you previously staked is returned to your disposable balance at the next pay day. When you’ve removed the baker, it is recommended that you also remove the keys from the node. If you want to use the node for baking at a later point in time, you’ll then have to create a new set of baker keys.

If you no longer wish to bake on this account, you can stop baking.

Concordium Wallet for Mobile and Concordium Legacy Wallet

1. Tap Stop baking.

   

2. After the screens explaining baker removal, review the information on the overview screen. When you are satisfied, tap Submit baker transaction.

3. The Concordium Wallet for Mobile or Concordium Legacy Wallet shows that the transaction has been submitted to the chain. Tap Finish.

Desktop Wallet

Single signature account

1. Go to Accounts, select the account that you no longer want to be a baker account then click More options.

2. Select Baking.

3. Click Stop baking.

   

4. The cool-down period is displayed. Select Continue.

   

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 device 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 that the sender account is correct, and navigate to the right. The LEDGER device says Remove baker from pool. Navigate to the right.

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.

Multi signature account

1. Go to Multi Signature Transactions, select Make new proposal, and then select Stop baking.

2. Select the Account that you no longer want to be a baker account, and then select Continue.

3. Set an expiry date and time for your proposal. You must set the expiry time so that the co-signers can return their signatures in time. Select Continue.

Generate the transaction

There are two ways that you can generate the transaction:

• Generate the transaction without signing. This option enables you to export the transaction proposal without signing it. You don’t need a LEDGER device but you do need an internet connection.

• Generate and sign the transaction This option requires a LEDGER device and an internet connection.

In combination, these two options enable you to distribute the responsibility of creating and signing transfers among more people. You can, for example, have one person create the proposal and another one sign the proposal. It also makes it possible for you to sign the transaction on the Ledger in a different location than where the proposal was created.

Generate the transaction without signing

1. Verify that the Transaction details are as you intended, and then select I am sure that the proposed changes are correct.

2. Select Generate without signing. You can now export the proposal.

Generate and sign the transaction on the LEDGER device

1. If you haven’t connected the LEDGER device, there’s a message in the Desktop Wallet saying Waiting for connection until you connect the LEDGER device. Enter your PIN code on the LEDGER device. Press the buttons above the up and down arrows to choose a digit, and then press both buttons to select the digit.

2. Wait for the message in the Desktop Wallet saying Open the Concordium application on your Ledger Nano S or Open the Concordium application on your Ledger Nano S Plus. On the LEDGER device, press the right button to navigate to the Concordium app, and then press both buttons to open the app. The LEDGER device says Concordium is ready. Wait for the message in the Desktop Wallet saying LEDGER device is ready.

3. In the Desktop Wallet, Verify that the Transaction details are as you intended, select I am sure that the proposed changes are correct, and then select Generate and Sign.

4. On the LEDGER device, there’s a message saying Review transaction. Verify that the sender account is correct, and navigate to the right. The LEDGER device says Remove baker from pool. Navigate to the right.

5. The LEDGER device says Sign transaction. Press both buttons to sign the transaction. The LEDGER device says Concordium is ready.

Note

If you want to decline the transaction, press the right button on the LEDGER device. The hardware wallet now says Decline to sign transaction. Press both buttons to decline. In the Desktop Wallet, there’s a message saying The action was declined on the Ledger device. Please try again.

In the Desktop Wallet, you can now see Transaction details, Signatures, and Security & Submission Details, which include the status of the transaction, the identicon, and the transaction hash. If you have all the required signatures, you can submit the transaction to the chain, otherwise, you’ll have to export the proposal and receive signatures from the co-signers.

Export proposal

If more than one signature is needed to sign off on the proposal, you have to share a file of the type JSON, which contains the transaction information, with the co-signers.

1. In the Desktop Wallet, select Export transaction proposal.

2. Navigate to the location on your computer where you want to save the file. If you’re on Windows make sure that All Files is selected in Save as type. Give the file a name and the extension .json, and then click Save.

3. You have to export the transaction proposal and send it to the co-signer through a secure channel. Optionally, you can also send the Identicon to the co-signers through a different secure channel.

Receive signatures from co-signers

When the co-signers have signed the transaction, they return the signed transaction proposal to you, and you have to import the files into the Desktop Wallet before you can submit the transaction to the chain.

1. If you’re still on the same page, go to step 3. If you left the page with the account transaction, go to Multi-signature Transactions, and then select Your proposed transactions.

2. Select the transaction that you want to submit to the chain. You can see an overview of the transaction details and an overview of the signatures. You can also see that the status of the transaction is Unsubmitted, and you can see the identicon and the transaction hash.

3. Select Browse to file and then navigate to the location on your computer where you saved the signed transaction files. Select the relevant files, and then select OK. The files are uploaded to the Desktop Wallet and added to the list of signatures. Alternatively, you can drag and drop the signature files from their location on the computer and onto the Desktop Wallet.

Submit the transaction to the blockchain

When you have received and added all the required signatures, you can submit the transaction to the blockchain.

1. Review the transaction details carefully to ensure that all information is correct.

2. Select I understand this is the final submission, and that it cannot be reverted.

   If you don’t want to submit the transaction to the chain, you can select Cancel. The proposal is no longer active. However, it is still visible in the list of proposals.

3. Select Submit transaction to chain. The transaction is submitted to the chain and finalized on the ledger.

4. Select Finish to leave the page.

Note

When you stop baking, there is a longer cool-down period before the transaction takes effect. During the cool-down period, your stake continues to earn rewards.

Note

If you stop baking, remember that this does not shut down your node. You need to shut down the node in a separate action if you no longer wish to run a node on the Concordium blockchain.

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Run a baker node on Windows