Week III — Test Delegated Staking and the Vesting Portal
Goracle is nearing the launch of the protocol, and in this second last phase of Incentivized Testnet, participants will help test key features of the protocol — stake delegation and the vesting portal. An easy to use and intuitive system is important for stakeholders to be able to onboard, interact and participate in securing the system. Goracle aims to provide this easy to use web interface, and will use this opportunity in Week 3 to gauge how easy it is for non-technical users to stake via delegation, as well as being able to claim vested tokens.
Delegating Stake
Goracle uses a Proof of Stake model, which requires consensus whenever a block of data is being written on-chain. To be a part of consensus, a node runner must run the Goracle node client, and stake a certain amount of Gora token. However, not everyone who wants to participate in consensus wants to (or can) run a node. This is where delegated staking comes in; it allows non-technical users to delegate their tokens and earn rewards without having run any software themselves. It also allows groups with low stakes to pool resources, and earn higher rewards.
Delegating staking is straight forward. In the Vesting Portal, ensure you have locked tokens available, then choose “Delegate”. You will be presented with a page of different Validators to choose from.
Vesting Portal
Goracle’s vesting portal allows those who purchase locked tokens to see how much of their tokens has vested, and to claim them as they are vested. For the purpose of incentivized testnet, the tokens will release at a rate of about 1 token per hour. By the end of Week 3, tokens should be fully vested, and users can claim the entire amount of vested Gora Tokens. Ensure you hold on to these tokens! There will be a surprise for token holders at the end of the testing period.
End of Week Survey
Finally, once the actions above are completed, we would love to hear about your experience using the Vesting Portal. You will receive an invite to complete a survey, and once completed, your points will be updated for all tasks at the end of the week.
About Goracle
Goracle is a decentralized oracle network that links the Algorand blockchain to the physical world.
For more information about Goracle, visit our Linktree.
