Preparation
1. To become a nominee, you need at least one mainnet account (you can prepare two), if you don’t have one, please see here: {https://nftmart-io.medium.com/how-to-create-a-nftmart-mainnet-account-52aa3df550d}
2. If your NMT is in Ethereum, you still need to cross-chain to the main network to become the nominee. For cross-chain, please see here: {https://nftmart-io.medium.com/how-to-exchange-nmt-to-nftmart-mainnet-d6559fae2ebf}
Start
- Please visit：https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fmainnet.nftmart.io%2Frpc%2Fws#/staking/actions，and click “Nominator”.
2. In the new pop-up window, set the nomination pledge information
A. Stash account number: The NMT nominated for pledge will be issued from this account;
B. Controller account: For nomination-related operations, you only need to keep some handling fees; (Stash and Controller accounts can be the same)
C. The number of NMT nominated for pledge. The more pledged, the more profit;
D. After the pledge is released, if you need to withdraw, the number of days that you need to lock up and wait, the current system is set to 21 days;
E. Nominee’s income payment options (detailed instructions in the next step)
3. Income payment options (can be modified at any time, the next withdrawal is effective)
A. Save it directly in the Stash account and use it to continue the pledge. To withdraw, you need to remove the pledge first;
B. It is directly stored in the Stash account, but it is not used for pledge and can be withdrawn at any time;
C. Save it in the Controller account;
D. Save to a designated external account;
4. Select the node you want to nominate (you can modify it later)
A. Alternative nodes;
B. The node you choose to nominate;
5. After the transaction, you can see that the nomination has been successful, click the button after “Stop”, you can see the operation menu
A. Add more pledged NMT
b. Release the pledged NMT
C. Withdraw the deactivated NMT
D. Modify the control account
E. Modify reward settings
F. Set the nominator (same as the last step of one)
6. For a more intuitive way to choose verification node nomination, please visit：https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fmainnet.nftmart.io%2Frpc%2Fws#/staking/targets
A. The commission charged by the verification node (the lower the better)
B. The current expected annualized rate of return for the nomination (the higher the better, it will change with time and the number of nominations)
C. You can check multiple nodes, and then click “Nominate selected” to modify your nomination;
D. Click the icon to see the running stability of the node. The longer the running time, the more stable the node is, the better;
E. The icon of the small hand indicates the node you are currently nominating;
F. The small arrow sign indicates the verification node to be selected in the next round;
7. After successful pledge, the longest waiting time is 44 hours, and the shortest waiting time is 28 hours (depending on the actual pledge) to generate income. For income collection, please visit https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fmainnet.nftmart.io%2Frpc%2Fws#/staking/payout
When there is income, click “Payout all” (it will become clickable if there is income).
Note: The income of each verification node only needs to be collected once. When anyone receives it, the income of other nominees on that node will also be automatically collected.
Nomination Rules
1. The nominator only needs to choose a reliable verification node, without considering the distribution of votes;
2. The system will automatically and optimally allocate your pledge to your nominated and selected nodes to ensure that your income is maximized;
3. If all the nodes you nominate are not selected, you will have no income. So you can select as many nodes as possible;
4. If your nominated node does evil such as unstable service, which seriously affects block production and incorrect block packaging occurs, your pledged tokens may be slashed and cause losses;
About NFTMart
NFTMart is a marketplace for NFTs based on the Substrate Framework.
It’s a fractional trading NFTs marketplace in the Polkadot ecosystem, with our own public chain. and we commit to being the most professional NFT marketplace in the world.
NFTMart is committed to being a low-cost-to-participate NFT marketplace, which provides users with NFT issuance and transaction services.
It is divided into two parts:
The first part nftmart.network is an open and decentralized NFT public chain, which delivers the issuance of NFTs and transaction data on the chain.
The second part is nftmart.io which we provide a fun, simple, accessible transaction experience for all. NFTMart is taking steps toward developing itself into a decentralized autonomous organization.
NFTMart will also establish an ecological fund to support third parties to expand NFTMart through interfaces, contracts, and other methods to achieve a more diversified NFT+ ecosystem.
Website : https://www.nftmart.io
Wechat： nftmartio
Twitter：https://twitter.com/NFTMartio
Medium: https://nftmart-io.medium.com/
Tele-Group: https://t.me/NFTMartOfficial
Tele-Channel: https://t.me/NFTMartChannel
Discord ：https://discord.gg/jNMeDvvvvR
