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collator-selection-pot.md

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Collator Selection Reward Pot

Watr is configured to use collator selection. This is configured to store all fees in a "staking pot".

Every block, a portion of this pot is split between the collators.

To activate the Pot account, ensure an existential deposit is sent to the following address: 2wS2DpdLUh45fLicxABP8biegPz4vc6BnVA3RH9CWAi1bmky

Once this account has an ED, the collators will start receiving a portion of the fees.

Sending ED

Note: The staking account will be preset with a balance for Watr. This section should not need to be performed on Watr

It is recommended to send the Pot account an ED before any other transactions are made. This ensures the total issuance does not drop via burned fees.

  1. Navigate to the Sudo page
  2. Select balances.transfer
  3. Paste the Pot account address 2wS2DpdLUh45fLicxABP8biegPz4vc6BnVA3RH9CWAi1bmky
  4. And choose a value great than the ED. For example, 1 Watr is more than sufficient.

Note: it is also possible to do this from a non-sudo account. But it is recommended to use Sudo as an assurance. Sudo does not pay fees, meaning no fees will be accidentally burned.