2.4 Use Console to Manage Your Mining

We highly recommend to read staking mechanism before using the Console.

The Console

Miners and pool owners can use Console to manage Workers and StakePools. Also it provides an overview of the status of all the managed Workers and StakePools.

Console Manual

Prerequisites

  1. Create a Khala account as the pool Owner and Worker operator;
  2. Get the WorkerPublicKey from Worker and has bound the Worker to the Khala account above.

Console Operations

  1. Connect your Khala account (You can follow this page to create/import your account);
  2. Create StakePool
    • Click “Create Stakepool”;
    • Click “Confirm” in the pop-up window;
    • Sign the transaction in the Polkadot{.js} Extension and wait for about 20 seconds;
    • Created pool will be listed in Stakepool;
  3. (Optional) Configure StakePool
    • Set payout preference
      • The payout preference allows you to set the commission of a pool. The comission rate determines how much the pool owner can earn before the mined rewards are distributed to the stakers. Examples:
        • If set to 0%, all the mined rewards go to the stakers pro rata;
        • If set to 100%, all the mined rewards go to the pool owner;
        • If set to 50%, half of the rewards go to the pool owner, and another half go to the stakers pro rata.
      • Click “Set Payout Pref” of the target pool to set the commission rate;
      • Type in the payout in the pop-up window; the default payout is 0% (all give to stakers), and it can be set between 0-100%;
      • Click “Confirm” to send the transaction;
      • The comission rate will be updated in StakePool list;
    • Set Staking Capacity
      • Capacity means how much the pool accepts from the stakers in total. This is useful if you don’t want a random staker to jump into the pool, adding the stake you are not going to use but also take a propotion of your mined reward.
      • Click “Set Cap” of the target pool;
      • Type in the Staking capacity in the pop-up window; the default capacity is unlimited, and it can be set between “Total Stake Now” to unlimited number;
      • Submit the transaction;
      • The capacity value will be updated in Stakepool list;
  4. Bind Worker
    • Click “Add Worker” of the target pool;
    • Type in the WorkerPublicKey of Worker in the pop-up window;
    • Submit the transaction;
    • The bound Worker will be listed;
  5. Staking
    • After creating the StakePool, you can invite other Stakers to invest or stake yourself;
    • To stake yourself
      • Click “Stake” of the target pool;
      • Click “Contribute” in the pop-up window;
      • Type in the amount to stake, it should be less than your “Transferrable Balance” and “Pool Cap Gap”;
      • Submit the transaction;
      • Click the “Stake” of the target pool, and you should see the change of “Locked” amount in “Your Stake Info”;
  6. Begin Mining
    • Click “Start” of the Worker in “Ready” state;
    • Type in the stake amount for the Worker, it should be more than “Smin” and less than “Smax” and “Pool Free Balance”. Noted that you CAN NOT change the stake amount during mining;
    • Submit the transaction;
    • The Worker state should transit from “Ready” to “Mining”;
  7. Get Rewards
    • Click “Claim” of the target pool;
    • You can see your rewards from this pool, including “Owner Reward” and “Staker Reward”;
    • Choose your account to claim the rewards;
    • Submit the transaction;
    • Your account balance should be increased accordingly;

Other Operations

  1. Withdraw Staking
    • Click “Stake” of the target pool;
    • Click “Withdraw” in the pop-up window;
    • Type in the amount to withdraw;
    • Submit the transaction;
    • You may wait for at most 14 days to get all your staking (check staking mechanism). You can check the frozen amount in the “Withdraw Queue” of “Stake” pop-up;
  2. Stop Mining
    • Click “Stop” of the Worker in “Mining” or “Unresponsive” state;
    • Submit the transaction;
    • The Worker state should transit to “CoolingDown”;
  3. Remove Worker
    • Click “Remove” of the Worker in “Ready” state;
    • Submit the transaction;
    • The Worker should be removed from list;

Explanations of Fields

Stakepool List

  1. You can click “Create Pool” to create a new StakePool if the list is empty;
  2. Fields
    • Owner Reward: The owner reward from the payout which can be claimed immediately;
    • Total Shares: The total staking amount;
    • Free Stake: The free staking amount;
    • Releasing Stake: The total staking amount of the pool Workers in “CoolingDown” state;
  3. “Show this only” Button: only show the Workers of the target pool;

Worker List

  1. You can click “Add Worker” to add a new Worker if the list is empty;
  2. Fields
    • Mining Core: The number of CPU cores in use;
    • State: Includes Ready, Mining, Unresponsive and CoolingDown (will turn to Ready after 7 days);
    • Total Reward: All the historical rewards of the Worker;

Stake Info

  1. Withdraw Queue lists all the funds to be withdrawn, ordered by the issue time. Noted that unmet withdrawal requests can cause ALL the Workers to stop mining.
    • Staker: The Staker sending the withdrawal requests.
    • Shares: The reminder funds to be withdrawn.
    • Countdown: If there are still Shares after Countdown reaching 0, all the Workers in the pool will be forced into a 7-day freeze period.
  2. Your Stake Info
    • Locked: Your staking amount in this pool.
    • Shares: Your staking amount in use.