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Cerberus three-headed dog airdrop has been received, automatic compound interest REStake function free of trouble

Mar 15, 2022 (edited)

The part of the airdrop Chihuahua from the Cerberus three-headed dog website can be received! The ATOM and OSMO client parts will be available later, but I didn't think I could take this opportunity to try the well-known REStake website, so let me record it.

Get the Cerberus Airdrop

1. Go to the Cerberus Three-Headed Dog website https://stake.cerberus.zone/ , click "Connect Keplr" in the upper right corner, and then go to Keplr Add Connection to see how many airdrops you have. The airdrop will be automatically issued, and you can receive it without doing any other tasks.

2. To get the airdrop, of course, first entrust it. Select a validator such as SF RES Land, and then click on the cube to delegate. The Keplr window will pop up in the middle to ask for confirmation of the transaction.

Take a REStake

3. After the delegation is completed, go to the REStake page of Cerberus. At this time, you will see that the node of POSTHUMAN ꝏ DVS, the validator I also delegated, has the RESTake function enabled, and click "Enable" directly.

4. The Keplr window will pop up, click "Approve".

5. The POSTHUMAN ꝏ DVS becomes recorded, which means that the REStake has been successfully performed. The frequency is 1 hour, that is, it will automatically help me REStake once every hour.

What is REStake? How does it work?

REstake is a project developed and maintained by ECO Stake .

REStake leverages a new feature in the Cosmos blockchain called Authz to let a validator (or any other wallet) send certain pre-authorized transactions on your behalf.

When REStake is used at the beginning, the validator is authorized to send the WithdrawDelegatorReward command for the wallet address to retrieve the delegation return, and to delegate for their own validator address. The validator cannot delegate the delegation return to any other validator, and the authorization expires automatically after one year, and you can revoke the REStake permission at any time.

In other words, you do not need to open the web page every day, manually retrieve the delegation return and re-delegate it to the validator to achieve compound interest effect, REStake will do it for you.

REStake is completely open source, you can find the source code on Github .

And most importantly, validators will pay transaction fees for REStake!

In addition to Cerberus, Cosmos blockchains such as Cosmos, BitSong, Desmos, ChihuaHua, Osmosis, etc. all have REStakes. In other words, as long as the validators of these blockchains have enabled and supported Authz, you can do REStakes.

At present, I have commissioned the same amount in Cerberus to the handsome Russian POSTHUMAN ꝏ DVS who has REstake and SF RES Land without REstake function as a control group to see what changes after one day.