Stacking delegation now supported by Stacks Wallet

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STX holders can now participate in Stacking by delegating their STX with the Stacks Wallet for MacOS, Windows, or Linux to third-party services that pool them with others, commit to Stacking and distribute BTC rewards to participants.

Download the new Stacks Wallet v4.1.0 with delegation support

This new feature is especially useful for STX holders with fewer than the dynamically set minimum (currently 70,000 STX) since it empowers them to earn BTC from Stacking with any number of STX on hand. It also keeps STX safe at all times in the desktop Stacks Wallet, especially when used in conjunction with a Ledger device.

Your STX will never leave your wallet or end up in the possession of such third-party services when participating in Stacking delegation. Rather, you’ll simply broadcast a transaction that permits the delegation service to commit your STX to Stacking for up to 12 cycles (or about 6 months).

As with all forms of Stacking, STX are locked up after committed by the delegation service until the final cycle is complete. This means simply that the STX cannot be transferred anywhere or used for other purposes temporarily. However, STX holders can choose to revoke delegation at any time and this will prevent such delegation services from subsequently committing their STX to more cycles.

Each delegation service provides a STX address that users simply need to copy and paste into the Stacks Wallet in addition to indicating the maximum amount of STX they’d like to delegate.

Staked is one such delegation service who has released support for delegated Stacking this week ahead of cycle #3, which is expected to begin on Saturday, February 27th. Simply sign up for Staked and locate the STX address provided by them to initiate delegation in the Stacks Wallet.

Learn more about Stacking delegation with Staked

While users with more than the dynamically set minimum can continue to commit their STX for Stacking directly with the Stacks Wallet, delegation provides them with the option to participate in Stacking without having to re-commit their STX manually after unlocking, track cycle timing, or otherwise have to navigate the intricacies of Stacking. As such, it provides a “set and forget” Stacking option for STX holders of all sizes.

Keep in mind:

  • Delegation services control the distribution of BTC rewards on behalf of STX holders who delegate to them, so be careful whom you trust. Hiro PBC can’t help you if the delegation service doesn’t pay you.
  • Though you can revoke delegation anytime, your STX may remain locked up for up to 12 cycles (or about 6 months) maximum.
  • Always double check that you’re using the correct STX address for a delegation service when entering it into the Stacks Wallet! Do not trust values provided to you by unverifiable people or entities online.
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Great work! I see in the video that you can revoke delegation, so it is possible to update the amount in case that you want to change the amount, I guess.

Do you have recommendations for delegation services as well like you have for users? Then users have better understanding what to look out for.

My thoughts re, Stacking services (make your own research):

Okcoin: Not your keys, not your coins.

My understanding is that StackedSats does not offer stacking due to legislation in Canada. Could you verify and update the link from the wallet to Start Stacking if necessary?

Staked I noticed, that the minimum amount is 10k STX and that you will receive your reward to a BTC address sent by email. I am not told for how long my stacks will be stacked, what btc address they use. Could you add these optional fields to the Stacks Wallet UI to teach users that they are in control of this? We want a user-owned internet! :slight_smile:

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Thanks! I’m pumped to see “Friedger Pool” :swimming_man:‍♂ :smiley:

Do you have recommendations for delegation services as well like you have for users?

Sure, what kinds of recommendations do you have in mind? Like guidelines for setting up a delegation service?

My understanding is that StackedSats does not offer stacking due to legislation in Canada.

I’ll check in with that team about the listing information we have there.

Could you add these optional fields to the Stacks Wallet UI to teach users that they are in control of this?

Per my comment elsewhere on the related GitHub issue, I’m not sure how to implement this exactly given how Clarity functions are currently designed. I’m open to suggestions however!

Is your pool still open for delegation?

Your stacks do not leave your account. You give us authorisation to manage your stacking.

We can lock your stxs for up to around 6 month and I manage the rewards for you. There is no other guarantee secured by 3rd parties. The protocol does not provide it. All actions are on chains and you can verify yourself.

We plan to provide a security bond for cycle 4. We hope that the Stacks Wallet will improve in this area by then.

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Hi, I used the latest Stacks Wallet and tried the delegation for the current cycle. I used the Stacks address that was provided by OkCoin (for delegating in a pool since I had less STX than the threshold required for stacking by myself). Can you please tell me how do I confirm/verify if my STX are being locked for the current cycle? I don’t see anything on the OkCoin account. Thanks.

OKCoin provides a custodial Stacking delegation service entirely within the context of their own website for STX that have been deposited there by users.

See: https://blog.okcoin.com/2021/02/23/stacking-stx-to-earn-btc-rewards

As such, their service does not use this new Stacks Wallet delegation functionality. Furthermore, the STX address provided by OKCoin is not suitable for entering into this delegation form in the Stacks Wallet and will not work for participating in Stacking.

Please visit OKCoin.com for options listed there in regards to Stacking with “Earn”, and contact their support if you don’t see them for your account having deposited STX.

I’ve created the following issue for adding better guidance to the Stacks Wallet itself about how STX addresses are used for non-custodial delegation:

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Hi Mark, Thanks for the information. I did suspect that maybe this delegation from Stacks Wallet may not have worked for me because I did not see anything in my OkCoin account. Yes, I think it would be good if you can provide some clarity on delegation address being different than deposit address for OkCoin so that others don’t make the same mistake as I did. For now, I have just revoked my delegated STX from the wallet.

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I am also confused where I can find a delegation address from to stack with my stacks wallet v4.1.0

Hello @markmhendrickson , I stacked my STX by Stack Wallet and I want to stack more. Can I delegate an additional amount (below threshold amount) with the same STX address on the same wallet?

Have you chosen a delegation service (e.g. Staked) already, or are you looking for options (which can be found here: Start Stacking)?

Have you Stacked your STX directly or delegated them to a service with lower amount or maximum than you’d prefer?

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I staked my STX directly but now I want to stake more about 30k stx (below the minimum threshold).
Can I create another wallet and delegate it to my previous stacked STX address?

Unfortunately it won’t work to delegate to your own STX address like that.

You would be able to increase the amount of committed STX using a second address per the following instructions if you had at least the dynamic minimum more available for the increase: How can I lock additional STX for Stacking?

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