You need an account with some pirl on it. If you have a Pirl 1.0 account and do not have claim it yet on the new blockchain, please refer to this tutorial
You need to create a new account for control your staked
Then send some pirl for covering network fees
Then go to staking panel
For stash account, select the account with you stash (the one with all your precious pirl) and for controller account, the newly created account in step 1
Choose your validator, you can choose multiple validators. This choice is up to you.
For avoiding being slashed (aka loose money), choose wisely your validator ! The validator need to have good uptime (99.99%) and good behaviour (see How does slashing works ? for more info about slashing). The list below is purely indicative and not a recommandation.
You always can check validator stats in the targets tab by clicking on the
stats iconon the right
Then you can see different kind of useful info for making your choice :
Rewarding system work as follow :
Validator are reward by block reward + 20% transaction fee. This do not depend on stake amount !
Validator take a % commision (you can see that info in staking overview)
Validator and Nominator share the remaining reward according to their share
Eg. Validator has 100 pirl staked, NominatorA has 50 pirl staked and NominatorB has 200 pirl staked
Validator get 28.57% of the remaining reward, NominatorA 14.29% and NominatorB 57.14%.
You can check potential profit/era in the targets panel, but be carreful, this value change according to nomination on each era
Now you need to authorize transaction
And tadaa ! Enjoy staking with Pirl. Your all done.
Written by WeHaveCookie