Convert from Credit Staking Validator
Transitioning to BTC Staking Under the New exSat Consensus Protocol
Validators currently using Credit Staking must transition to BTC Staking to continue participating in the exSat network consensus to earn $XSAT rewards under the new consensus protocol.
Key points to note:
The new consensus protocol offers Validators a higher proportion of $XSAT rewards compared to before. Detailed reward rules will be shared in the forthcoming whitepaper.
Credit Staking will be removed after the new consensus protocol is activated. Validators who do not transition to BTC Staking will lose eligibility to participate in the exSat consensus and will no longer earn $XSAT rewards.
You can begin transitioning to BTC Staking immediately. Switching now will not impact your current rewards, and once the new reward rule takes effect, you will automatically receive the higher rewards.
The transition process takes some time to complete. We recommend initiating the switch as soon as possible. Our team will assist you through the process to ensure your rewards remain unaffected during the transition.
Transition Process:
Validators currently using Credit Staking must complete the staking transition process to qualify as BTC Validators under the exSat network. The process is as follows:
Upgrade the Client: Upgrade your Client software to the latest version.
Run the Client and Set the Stake Address: Launch the upgraded Client and configure your Stake Address. The 100 $BTC initial stake must be initiated from this Stake Address.
Bridge 100 $BTC to the exSat Network: Bridge 100 $BTC to the exSat network to your configured Stake Address. Please contact your BD Manager for assistance in completing the cross-chain process. You could use the 100 $BTC currently allocated for Credit Staking, but ensure you communicate with the exSat team beforehand. We will deactivate balance monitoring for your Credit Staking address to prevent Validator disqualification during the transition.
Stake 100 $BTC: Stake 100 $BTC with Stake Address to your Validator.
Once the staking transition is completed, your Validator will be upgraded to a BTC Validator under the new exSat consensus protocol.
When performing staking operations, make sure to connect your wallet using the Stake Address on the staking page to complete the process.
If your Stake Address is different from your Reward Address. In this case, you will see the Stake Reward displayed as 0, and the Commission cannot be claimed. However, if you switch to connecting with your Reward Address, you will be able to view the accumulated Stake Rewards and claim them.
If your Stake Address and Reward Address are the same, you will see the Stake Reward and Commission, and you will be able to claim the rewards directly.
How to Confirm Successful Staking Conversion If you are using Credit Staking, the staking page will display a notification indicating your current use of Credit Staking and recommending that you switch to BTC Staking as soon as possible. Once you have successfully completed BTC Staking, this notification will no longer appear on the staking page.
Effects
Important Notes on Rewards After Transition:
Commission Rewards: Remain claimable by your configured Commission Address.
Staking Rewards: Claimable by your Stake Address.
Important Reminder:
Failure to Transition If you do not complete the above steps and participate in the new exSat BTC staking, your Credit Staking will be canceled when the exSat consensus upgrades to new version. This will disqualify you from participating in the new exSat consensus mechanism and earning further rewards.
Effects of staking transition After completing the BTC staking process:
Your existing Credit Staking will be automatically canceled.
All accumulated rewards (both commission and staking rewards) will be automatically claimed to your configured Reward Address.
Understand new consensus
To fully understand the upgraded consensus, please review the following documents:
How the Data Consensus Protocol Works
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