Staking V-Box Guide

Last updated 2 months ago

For Setup and Settings of your Staking V-Box, read the following step-by-step guide.

1. Register

In order to create an account, all you need is a working email address and a username of your choice. Here you can find step-by-step instructions on how to register a new TheHub account.

2. Send funds to TheHub Wallet

In order to deploy a Staking V-Box you need to pay a One-Time Activation Fee. (for detailed cost click here). Costs are deducted automatically from your TheHub Wallet. Send an amount of KLKS to cover the daily fees. You can see your deposit address on the Wallet tab (left menu). Wait some minutes and the Wallet page will show you the sent amount in your balance.

3. Create a Staking V-Box

  1. Go on the Staking V-Box tab (left menu) and click Create Staking Box (top right corner).

  2. Choose a name for your Staking V-Box, select the coin type that you want to put in stake, flag the Costs Info box > click Next

  3. Wait and don't refresh the page. TheHub automatically will create your V-Box and ask you to proceed with the configuration clicking again on Next.

  4. At this point you could see a progress bar that represent the blockchain synchronization. This could need several time, depending on blockchain data size.

  5. Wait until the synchronization process is complete and don’t refresh the page. The system will warn you when the process is over and ask you to go ahead clicking on Next.

  6. Now, clicking on the Staking V-Boxes tab, you can see that your Staking Box list is updated.

  7. Click on “Manage” button (purple) relative to your Staking V-Box. You will get asked to choose a passphrase for the encryption. Those steps are mandatory in order to ensure a complete protection for your funds and increase security level. Chose a strong passphrase for a more secure encryption of your wallet.dat file and click on Encrypt Wallet.

If you lose your encryption password, your coins is lost forever. We are not able to recover it for you

Now it’s time to send funds to your Staking V-Box proceeding with steps below.

4. Send funds to your Staking V-Box

In the section Manage/Addresses, click on “Get New Address” and send funds to the generated address (make sure that the address matches the one provided by TheHub). Wait some minutes and check the updated balance of your Staking V-Box. Now that your Staking V-Box contains funds, we recommend to proceed with the acquisition of the Private Key. See below (Step 5 / Dump Private Key).

5. Manage your Staking V-Box

All of the following functions are available from the Manage/Settings panel of your Staking V-Box.

Dump Private Key

We provide the access keys of your addresses on TheHub, this is a function that allows a high level of decentralization. In order to obtain the private key, go on Manage / Addresses section and click on dumpprivkey button, a pop-up window will show you your key. Keep your private key safe, do not leave it on your computer or in the cloud, consider printing it on a piece of paper and keep it in a safe place. You can retrieve your funds on a desktop wallet at any time by importing the dumped private key.

Note that for that operation the activation of 2FA is mandatory.

To import a private key, go in the Debug Console of your desktop wallet and digit:

importprivkey "myprivkey"

Mind the space between importprivkey and the private key.

The private key should be contained in “”

NEVER GIVE TO ANYONE YOUR PRIVATE KEYS

Backup wallet.dat

You can activate and set the backup option from “Manage/Settings” section (optional).

The wallet.dat backup works in combination with your Dropbox account (required). You can choose between manual or automatic backup. If you select the automatic backup mode, the wallet.dat file will be available in your dropbox folder automatically once a day. Instead, in the manual backup setting, it will be available in the Dropbox folder only on your request.

Note that for security reason this operation need the encryption of your staking box.

After downloading and saving (in safe place like as a thumb drive), Its suggest to remove that file from the Dropbox Folder.

Split Threshold

The first time your address stakes it will automatically split into 2 inputs, and continue to split for each found block reward until it reaches the default limit (on KLKS is set to 2000 coins per input). After is reaches this limit, it will stop splitting into smaller inputs. You can check the default Split Threshold from Staking Status tab or in the Manage /Settings section. In order to change the default input size, go in Manage/Settings, enter the desired value and click on Set New Value.

6. Check the Staking Status

In order to stake correctly, your coins needs to be “mintable”, that means they need time to get a certain number of confirmations. This parameter is know as “minimum stake age” and depends from the blockchain source code (on KLKS is set to 60 min.). You can find a detailed view of the “Staking Status” in the Manage/Settings section of your Staking V-Box.

It’s possible that all the factor that determine the staking are good (“YES” in Staking Status Tab) but the Staking Status is not active, in this case the system will ask you to restart the V-Box, this could easily done from the Manage/Settings section.

7. Withdraw fund from your Staking V-Box

You can withdraw the desired funds from the relative section Manage / Withdraw.

Fill the fields with the request informations (Address/Amount/Passphrase/2FA) and click on Confirm Withdraw. Your funds will be sent to the select address.

8. Delete your Staking V-Box

In order to destroy your Staking V-Box, press the relative button on Staking V-Boxes section / Actions.

Note that for the purpose of prevent a loss of your coins, in case of “destroy” of a Staking V-Box with funds inside, you need to withdraw the entire amount before to proceed with the “destroy” operation.

To increase the safety you should also activate the wallet.dat backup or dump the private key of your addresses.

If after 5 days your credit with TheHub result still unpaid, your instance will be deleted with whole content, included your staking VBox wallet. This could result in a loss of fund. As our system warn users about low credit and unpaid bills, and we are not responsible for any fund loss due vps deletions for insolvent positions.