Stake your funds
A step-by-step guide for staking funds in Polkadot JS Apps
The staking will comprise two accounts:
1. Stash account
2. Controller account
The stash account is the users main account with all their funds. This account is only used to:
- Initially delegate funds for staking
- Increase the funds staked
- Change the controller on the account
The controller account handles everything else.
The controller account is an intermediary that manages the staked funds, such as:
- Unstaking the funds (known as unbonding)
- Changing the account staking rewards are sent to
- Changing the validator’s the funds are staked with
Managerial decisions require executing transactions, so the controller account must hold enough tokens to handle transaction fees ONLY.
Access PolkadotJS Apps
Create the stash account
For maximum security, it is recommended that the stash account be created from a cold wallet (such as a Ledger Nano). For demonstration purposes, this guide we will create a hot wallet through Porta's UI.
Go to the Accounts page
Click the Add Account button
Create a username and password and click next.
Save the relevant documentation in a secure place.
Create a controller account
Click the Add Account button
Create a username and password and click next
Save the relevant documentation in a secure place
Delegate funds to the controller account:
The controller account will only need enough funds to handle transactions fees for the duration the funds are staked.
In the real world, the stash account would already have funds, but if you are running this as a test you will need to delegate some funds to the stash account for testing purposes.
Transfer funds from the stash account to the controller account.
On the accounts screen, go to the stash account and click send.
Transfer some funds to the controller account
You will see the funds in the controller account
Stake the funds from the stash account
Go to Network > Staking
Account Actions > Nominator
Set the stash account, the controller account and the value to be staked from the stash account.
Choose the candidates you would like to nominate. These are the validators you would like to stake with. Once chosen, click Bond and Nominate.
Authorise the staking using the stash account password
Your stakes amount will then appear in the list of nominators
Last modified 1yr ago