Delegation Migration on BNBChain

Published on: 08.05.2024
Delegation Migration on BNBChain

Delegation Migration on BNBChain, whether you are an experienced staker or new to the process, it is crucial to understand how to navigate these changes effectively to maintain the security and efficiency of your investments.

For Existing Users: Migrating Delegations

If you’ve previously delegated your BNB tokens to validators, the Feynman upgrade will need for you to authorize your delegations to new validators on the BNB Smart Chain (BSC). This step is vital as it ensures your tokens continue to contribute to network security and earn staking rewards under the new system. As Delegation Migration on BNBChain.

Steps to Migrate Delegation:
  • Do NOT Undelegate: It’s important not to undelegate your tokens as part of this migration. Undelegating will lock your tokens for a seven day period before they’re returned to your wallet, which is NOT RECOMMENDED.
  • Migration Process: Follow the detailed guide on stake migration provided by BNB Chain. This will take you through the process of safely transferring your existing delegations to the new validators.
Steps for New Delegations:
  • Visit the staking page: New users should head directly to the staking section on the BNB Chain website.
  • Follow instructions: The page provides comprehensive instructions on how to delegate your tokens to a validator on the BSC. This process contributes to network security and enables you to earn rewards.

 

About BNB Chain

Build N Build Chain is the world’s largest smart-contract blockchain in terms of transaction volume and daily active users and hosts Over 1,400 dApps and 2M+ weekly gamers, making it a great ecosystem for game developers to build on.

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SOURCE: BNBCHAIN BLOG
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