Centrifuge CFG Tokens can get staked in the Polkadot/Substrate Portal in the section “Network” and “Staking”. The Staking-section provides an overview of all validators for the Centrifuge-chain.
Before staking at least one validator must be nominated. My recommendation is to nominate more than one validator to minimize the risk of slashing (can happen if a validator refuses to vote on blocks). For the selection of a validator a view criteria should be considered:
- Allow only validators with an identity (by activating the switch “only with an identity”) to be able to track detailed statistics such as rewards & slashing and elected stake
- How much is the other stake? Usually the more the merrier
- How much is the validator’s own stake? Usually the more the merrier
- How high is the commission? A moderate commission is the best
- How many blocks were produced by the validator? The more blocks the better
I do believe 8-10 validators are sufficient and the most viable way is to add the different validators to favorites. In the next step the chosen validators need to get nominated in the tab “Account actions” and “Set nominees” (by clicking on the three dots one below the other on the right).
The selection can be done by selecting manually from the list of favored candidate accounts or by searching in the search string. When the validators appear in the right column they need to get “nominated”. After the personal password for the Polkadot/Substrate Portal is entered and the action is “Signed and submitted” the nominators/validators are selected and staking starts as soon the transaction is confirmed in the blockchain.
The best way to monitor the progress of staking is in the “Account actions” or most suitable in a Centrifuge-explorer such as Subscan (–>Rewards&Slash) by entering its own Centrifuge-address.