How to get started
- Log into your account in the HEAT wallet (web/desktop does not matter)
- Use the top-right “hamburger” menu to select “lease balance”
- As recipient use 7210663383474895503
- Choose a period of blocks, with a maximum of 300000. This will define the leasing period, with 2880 being approx. one day of leasing. For a leasing period, don’t use anything below something like 10000 blocks as it won’t bring you much (that’s even only about 3-4 days). Anything below 3000 has a chance of going unnoticed due to my manual process
- Click on “send” and you’re all set!
- You can repeat this action to define a follow-up leasing period, which means that automatically your new lease will start when the current one is over
Once you have started leasing, you can check for the account at https://heatwallet.com/#/explorer-account/7210663383474895503/lessors. You will first see the lease being shown as a transaction. Once the 1440 blocks have been passed, you can find the lease back on the lessors tab. I will take a daily snapshot in the morning of that page to define the stake per account.
How account leasing works in HEAT
- After you finished the previous actions, it takes 1440 blocks for the leasing to become active. Once active, YOUR balance is being virtually added to the forging pool account’s so-called EFFECTIVE balance. This will be the stake of the pool during forging and a higher stake means a higher chance of forging blocks
- Whenever a block has been forged, it will be added to the forging pool account. Using my manual calculation, YOUR stake within the total pool stake will define the % of your contribution to the reward (which is currently 8 blocks). So if you have a 50% stake in the pool, you will get a 4 HEAT reward for a forged block
- When you decide that you want your reward being paid out, send me a message in the heat wallet to the forging pool account, and I will pay your rewards minus the fees
- Payments max once per week and for no less than 5 HEAT total rewards.
- Note that for the time being I am calculating your stake on a day-to-day basis (e.g. every morning your stake is defined), not on a per-block basis. This could imply a minor deviation in rewards if you are a regular trader, as trading has an immediate effect on your stake in case of selling. Note as well that your cumulative rewards are included in your stake in the calculation, so no need to do regular payouts as you won’t miss out on potential rewards