Fireblocks Process Per Protocol

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Eth2.0

Blockdaemon will advise Customer to inform Fireblocks how much ETH they wish to stake.

Fireblocks will go through the eth2 address setup and deposit process.

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There are three major phases to setting up an Eth2.0 Validator:

Fireblocks is responsible for phases 1 and 3. 

Blockdaemon is responsible for phase 2.

    1. Fireblocks setup eth2 withdrawal address and shares the withdrawal public key with Blockdaemon. 
  • Fireblocks will walk through the transfer process with the customer bringing funds into Fireblocks (32ETH per validator).
  1. Setup validator machines with public keys from phase 1. 
    1. Generates deposit files for phase 3.
    1. Submit deposit contract transaction with deposit file information for each validator.
  • Fireblocks will walk through the deposit transaction signing with the customer.

fireblcks_eth2_.png

Here are the detailed steps. Blockdaemon team wrote: if all steps in Phases 1 and 3 were done manually:

 

Tezos

Blockdaemon will advise Customer to create a new wallet in Fireblocks and deposit the amount they wish to delegate.

Delegator doesn’t submit the amount they wish to delegate, but instead submits the address that has the funds the funds they wish to delegate. And on chain pulls whatever is in that wallet as the delegation.

Customer informs Fireblocks which wallet (address) they want to delegate to Blockdaemon’s Baker with.

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When there is a new delegation:

(Optional) Customer will set up a new vault account and send the amount they want to delegate to Blockdaemon’s baker.

  1. Blockdaemon advises the Customer to inform Fireblocks representative the amount they want to delegate.
  2. Fireblocks confirms with Customer.
  3. Fireblocks confirms with Blockdaemon on estimated timing of delegation.
    1. When fireblocks plans to submit the transaction to the Customer to sign
    2. ^ meant to be a quick slack message
  4. Fireblocks manually submits delegation transaction on behalf of the Customer.
    1. Customer may want to do this on their own ^ but for now, Fireblocks prefers to do this.
    2. Customer signs (usually with mobile device) with either scenario.
  5. Blockdaemon confirms delegation active on Baker with Fireblocks and Customer.

Blockdaemon’s Tezos Baker: tz1fPKAtsYydh4f1wfWNfeNxWYu72TmM48fu

Rewards: Blockdaemon sends rewards weekly for any cycles completed and unfrozen since the previous week.

 

Polkadot

Blockdaemon advise Customer to inform Fireblocks the amount they wish to delegate.

Fireblocks will then take customer through initial setup / submit proxy transaction, so Blockdaemon can setup the nominations for the customer.

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Max Per Wallet: (1.7535 M DOT * 12 = 21.04M DOT)

Reserve in Controller account: 21.0410 DOTs (proxy)

When there is a new nomination:

    1. Blockdaemon advises the Customer to inform Fireblocks representative the amount they want to delegate.
      1. Customer can create a wallet in Fireblocks and move the DOTs they want to bond into the wallet
      2. Customer lets Fireblocks know this is the wallet they want to use to stake, and how much to bond 
  • Blockdaemon sends Fireblocks Polkadot Address that can act as a proxy for the Customer’s nomination.
  1. Fireblocks confirms nomination amount with the Customer.
  2. Fireblocks sets up Stash and Controller accounts for Customer, and bonds tokens for nomination.
  3. Fireblocks sets Blockdaemon as the proxy to the Controller
    1. Using the single Fireblocks<>BD proxy address
    2. See here: https://wiki.polkadot.network/docs/en/learn-proxies#proxy-deposits for deposit necessary to set up the proxy.
  4. Fireblocks confirms with Blockdaemon on timing of nomination and the address that Blockdaemon is proxy for (share tx of setting the proxy)
  5. Blockdaemon sets up nominations.
  6. Blockdaemon confirms with Fireblocks and Customer when nominations are active.

Address to proxy: 14dMMtV91EpqumTuYwtsp3JUKdicUJrzPwBST3o4s51TQxb6


Changing controller account:

Changing the controller account for a bond or removing/adding a new proxy does not affect the active nominations.

Suggested process:

  1. Create new polkadot account
  2. Remove the proxy for the Stash account
  3. Send the 21-25 DOTs to the new Controller account (enough for reserve for proxy and transaction fees)
  4. Set the new Controller account as the controller for the bond
  5. Set Blockdaemon as the proxy for the new controller account (same process done above)
  6. Send Controller account address or transaction for setting the proxy to Blockdaemon
 
 
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