H. Diamond UI
Diamond UI serves as a platform for the DMD community's operations. It offers access to the validators list, epoch and network statistics, DMD news and partners, Decentralized Autonomous Organization (DAO) decisions, and personal profiles for every network participant. Users can lock coins in staking mode, receive rewards, unstake coins, and perform various other operations.
This dapp is designed to provide a clear and transparent way to manage your DMD coins, significantly upgrading the ‘old’ Staking UI with enhanced features and an updated design.
While the DAO is integrated into the new Diamond UI, it functions as a separate module from a user flow perspective. You can find the User Guide for its functionality here.
User without a connected wallet: This user has access to the Staking UI Homepage, which includes network/epoch statistics, a detailed validators list, and the FAQ section.
Validator Candidate with a connected wallet: This user meets the requirements to become a validator candidate within the DMD ecosystem. They have access to their profile, where they can manage their stake, view their score, voting power, delegates, and the validators they've staked on. Additionally, they can set up a node operator share.
DMD coin holder with a connected wallet: This user, who prefers not to run their own validator candidate node or doesn't own the minimum required DMD amount (10,000), can stake on validator candidates and receive rewards. They have a personalized profile to view their stakes on other candidates and see detailed information.
The DMD network allows any full node with 10,000 DMD to become a validator candidate, and any coin holder with at least 100 DMD can stake their coins on these validator candidate nodes. This mechanism lets coin holders signal which nodes they trust the most for reliability and stability, thereby increasing those nodes' chances of being selected for the active validator set. The maximum amount of DMD per node is capped at 50,000 DMD, either held by the node itself or staked by coin holders. Based on the DMD in circulation, up to 438 nodes can participate.
Validation duties rotate among the candidate nodes, with 25 nodes selected randomly every 12 hours, known as the Epoch. During each Epoch, these validator nodes use the Honey Badger Byzantine Fault Tolerance consensus protocol to validate transactions, and rewards for the Epoch are distributed equally among the nodes. The distribution algorithm ensures that every node has a chance to be included in the Validator Set in proportion to the amount of staking on the node.
Besides earning rewards as a validator candidate or a delegated staker, there's the configurable node operator share, another method to earn a fair share of DMD Diamond’s epoch reward. This mechanism allows a node owner to delegate a portion of their rewards to a different node operator address. It's tailored for DMD Diamond coin holders who want to earn rewards through node ownership but lack the technical expertise to operate it. For instance, if you have the minimum 10,000 DMD Diamond coins required to be a validator candidate but lack the skills to manage a blockchain node on a Linux server, you can delegate node operation to someone with the necessary skills, thus sharing the node owner rewards with them.
Option 1
- Visit the official website of the DMD blockchain staking platform. Link: https://beta-ui.bit.diamonds/
- Click ‘Connect’ to connect your wallet.
Diamond UI supports Metamask native wallet, Walletconnect, Brave and Coinbase wallets. To view your balance in DMD instead of USD in Metamask, navigate to Settings -> General and enable the 'Show native token as main balance' checkbox.
Option 2
The Diamond application, designed as a DApp, can be downloaded from GitHub and launched locally in your browser.
This setup allows you to bypass our UI page and interact directly with the blockchain. You can also replace the API server with your own node or any DMD node that provides API access.
While some centralized data like Grafana statistics might be unavailable if centralized servers are offline, you can still perform basic interactions with the DMD network for staking purposes even if all our websites are offline.
Users with connected wallets have access to Personal Profile:
- Username: Can be changed through the DMD renaming system (future planned upgrade).
- Stake: Total stake of the network participant and his pool (if it was created).
- Create a pool option: For validator candidates if the amount of DMD exceeds 10000.
- Voting Power: Calculated as the percentage of coins staked by the validator candidate relative to the total coins in staking mode.
- Stake on Other Candidates: List of addresses where the user has staked DMD on one or several validators.
- Score: Combined score value based on key generation results, validator connection stability, and misbehavior reports.
- Delegates List: Accounts that have staked on the validator candidate.
- Node Operator Share: Node operator share value, if applicable.
- DAO Phase: Current DAO period, either Proposal or Voting phase.
- DMD News: Latest news within the DMD ecosystem (future planned upgrade).
- Network and Epoch Statistics: Indexes related to the network and epoch state.
- Top 5 Validator Candidates: List of the top 5 validators with the highest total stake.
To become a validator candidate, follow these steps:
- Connect your wallet.
- Go to your personal profile.
- Click the ‘Create a pool’ button.
Next, a pop-up will appear, allowing you to:
- Select the number of coins you want to lock (minimum 10,000 DMD).
- Provide the public key of the node.
If you wish to share the node owner reward with the node operator, check the box and enter the node operator address along with the reward percentage (0.001% to 20%).
You can set up the node operator address anytime after pool creation through your personal profile. Note that it can be edited once per epoch, and only one target address can be active at a time. Setting a new address will disable the old one.
Finally, click the ‘Create’ button. A wallet pop-up will prompt you for transaction approval. Click ‘Approve’ to finalize the pool creation. Once the transaction is complete, the staked amount and node information will be updated, and your voting power will be calculated.
To remove a pool, the validator candidate must not be part of the active set. Once removed, the same address cannot be used for a new pool. To remove a pool, click the ‘Remove pool’ button in your personal profile.
It's important to note that you cannot remove or unstake a portion of the pool if it falls below the minimum requirement of 10,000 DMD. The entire amount must be removed at once.
To see all available validators, click the Validators tab or the ‘See full list’ button below the Top 5 validator candidates on the Homepage. This will display a list of all validators.
Each validator candidate in the list includes:
- Wallet or Username information
- Status
- Total stake
- Voting power
- Score
If you have connected your wallet and have at least 100 DMD (minimum required for staking), a ‘Stake’ button will appear next to the validator candidate. You can stake on top of valid or active candidates with less than 50,000 DMD. Note that while you can stake on active candidates, your coins will only become active in the next Epoch. If you have already staked on a validator candidate, your stake will be visible next to the candidate in the list, and you will have options to delegate more or unstake your coins.
Filters for the page include:
- All: Display all candidates.
- Active candidates: Candidates who are part of the active validators set.
- Valid candidates: Candidates eligible for election in the next epoch.
- Invalid candidates: Candidates flagged as unavailable on the blockchain or lacking sufficient stake.
- Candidates I've staked on: Candidates you have staked on.
To delegate tokens to your chosen validator, follow these steps:
- Click the ‘Stake’ button near the desired validator on the Validator list page or from the Validator detailed page.
- A form will appear, displaying the validator and a field to enter the amount of tokens to lock in staking mode. Enter the amount (minimum 100 DMD) and click ‘Stake’.
- A wallet popup will appear for transaction approval. Click ‘Approve’.
Your tokens are now delegated to the selected validator, and you can see the delegated amount next to the validator in the list. If you stake on an active validator, your coins will become active and earn rewards starting from the next Epoch. This information will be indicated in the staking pop-up.
Upcoming Feature: Redelegation In future releases, you will be able to ‘Redelegate’ tokens from one validator candidate to another. To redelegate, click the ‘Stake’ button, and a popup will show information about your current stakes and allow you to select the amount you wish to redelegate to a new validator.
To remove your coins from a validator, follow these steps:
- Click the ‘Unstake’ button on the Validator list or detailed page.
- A pop-up will appear, asking for the amount you wish to unstake. Note that the minimum required stake amount (10,000 DMD) cannot be partially unstaked; the full amount must be removed by removing the node.
- The ‘Unstake’ button will calculate the DMD you can currently unstake and the amount that can be ordered. Unstake available coins first to proceed with the order flow, then approve the transaction in your wallet.
You can also unstake from an active validator, provided the minimum stake amount remains in staking mode. This minimum can be further unstaked once the validator candidate is no longer part of the active set.
If some coins cannot be unstaked immediately because they are part of an active or pending validator's stake, you will need to follow the order flow:
- Unstake all available coins first, as indicated by Diamond UI.
- Create a separate unstake request for the remaining amount by clicking ‘Unstake’ again. The amount to be ordered will be shown on the UI, and these coins will be kept until you claim them after the Epoch ends.
To claim your coins, click the ‘Claim’ button next to your stake amount in the validator candidates list. This button appears at the end of the Epoch, indicating your ordered coins are ready to be unstaked.
At the end of each Epoch, all claimable rewards are credited directly to the staked balance of the validator and their delegates. This means there is no separate entity for reward storage; instead, your rewards are added to your stake and can be unstaked if needed.
Example:
If you have staked 500 DMD on a validator and receive an epoch reward of 100 DMD (assuming your reward is 10%), your stake will increase to 510 DMD at the next Epoch.
- Username: If available (planned for future releases).
- Wallet Address
- Status:
- Active: Part of the active set.
- Valid: Not part of the active set, but eligible for election and has announced availability.
- Invalid: Flagged as unavailable on the blockchain or does not have enough stake.
- Total Candidate's Stake
- Node Stake
- Stake on Other Candidates
- Score
- Voting Power
- List of Delegates: Includes username/address and the delegated stake.
- Validator Candidate's Participation during the DAO Phase: Note that historic proposals are not presented on this page, but you can navigate to the DAO historic proposals' storage to find previous voting results.
If you have already staked on a candidate, you can lock more coins in staking mode or unstake your coins directly from this page.
