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Become a Validator

A create-validator transaction is a type of transaction used to create a new validator. In this type of transaction, the validator stakes a certain amount of coins as collateral.

Add an operator key and take note of the mnemonic key

KEY_NAME="validator"
​
sentinelhub keys add "${KEY_NAME}"

Make the create-validator transaction

CONSENSUS_PUBLIC_KEY=$(sentinelhub tendermint show-validator)
DELEGATION_AMOUNT="5000000000udvpn"
MONIKER="Your Validator Name"
​
sentinelhub tx staking create-validator \
    --broadcast-mode=block \
    --min-self-delegation=1 \
    --commission-max-change-rate=0.01 \
    --commission-max-rate=0.2 \
    --commission-rate=0.05 \
    --amount=${DELEGATION_AMOUNT} \
    --moniker="${MONIKER}" \
    --pubkey="${CONSENSUS_PUBLIC_KEY}" \
    --from="${KEY_NAME}" \
    --chain-id=sentinelhub-2 \
    --gas=300000 \
    --gas-prices=0.5udvpn

The --commission flag explained​

The commission rate plays a crucial role in the decision-making process when executing the create-validator transaction.

  • --commission-rate=0.05: the current commission rate that the validator receives from delegators. In this example it is 5%. This value is adjustable in the future.
  • --commission-max-change-rate=0.01: the max commission rate a validator can change. In this example it will be 1% and it is cannot be changed once set. This means that if a Validator wishes to raise its commissions from 5% to 8% in the future, it can achieve this by making adjustments three times, with a 24-hour interval between each transaction.
  • --commission-max-rate=0.2: the max commission rate a validator can set. In this example it will be 20% and it cannot be changed once set