How do I create a Dash Stake?
With our Dash Stake feature, you can diversify your cryptocurrency holdings across both Dash and BiblePay, giving your cryptocurrency portfolio more resilience.
You will earn a staking reward from BIBLEPAY, as long as your DASH UTXO and BBP UTXO are both unspent, for the duration of the contract.
The contract length is always 6 months.
The BIBLEPAY reward is paid once per month, at the GSC Height (this is once every 6,150 blocks starting at the block number you created the contract on).
Steps to Create a Dash Stake
First, from the DASH wallet, it is best to try to send a certain value of DASH into one UTXO (this is one new transaction) so that it is convenient to tie this single UTXO to the target BBP UTXO. For this example we will try to explain how to tie a $1,000 DASH investment to a $1,000 BBP investment (this is a total of $2,000), and from this, you will earn BBP rewards derived from the contract.
As of September 2020, it takes 10 dash to make up about $1,000. So the DASH user will send 10 DASH to themselves before starting this guide, so that they have one UTXO for 10 in their wallet available.
From Dash : Ensure Coin Control is enabled (Settings | Options | Check Enable Coin Control Features | OK). This only needs done once.
From DASH, go to Send Money, Inputs. Find the Input with 10 DASH. Right click and click on Copy Transaction ID to clipboard.
Go to Tools | Debug Console. From the console type:
gettxout txid_from_clipboard 0
If the "value" on the screen is not 10, change the zero above to a 1, try again. Continue trying over and over by increasing to 2, 3, etc until you find the UTXO ordinal that results in a "value" of 10.
(Most of the time, the ordinal will be 1, but due to variable change positions, we need to simply try all of them). This is automated in BIBLEPAY with a feature, but must be done manually in DASH.
Once you know the VOUT ordinal, where the 10 DASH is, to create a full UTXO out of it, just join the two together with a hyphen.
TXID_from_clipboard=ABC123 VOUT_Number from gettxout=1 DASH_UTXO: ABC123-1 Keep the Dash Full UTXO recorded here or in a notepad document for reference so you can complete the rest of the guide.
While you are viewing the "gettxout ABC123 1" transaction, that matches your 10 DASH, note the ADDRESS this 10 DASH arrived at. We need to record this ADDRESS. Record this as "DASH_ADDRESS".
(Now we have recorded: VALUE=10, DASH_UTXO=ABC123-1, DASH_ADDRESS=XYZ).
Moving on to the signing step from Dash, we now need to Sign the coin to prove ownership.
From the Dash RPC, type:
signmessage DASH_ADDRESS DASH_UTXO
Where "DASH_ADDRESS" was recorded above. DASH_UTXO was recorded above. NOTE that DASH_UTXO is in this format: TXID-ORDINAL
For completeness I will run through an entire theoretical example in DASH right now:
I right click on my 10 DASH from coin control, copy to clipboard and receive this: 85fdad836bf20a151e0732959192883a4946afb148af4643785230c05f51a611
I go the DASH RPC and type:
gettxout 85fdad836bf20a151e0732959192883a4946afb148af4643785230c05f51a611 0
And look at the value and it is for 1 DASH, and not for 10 dash, so thats not the right one!
So now I type:
gettxout 85fdad836bf20a151e0732959192883a4946afb148af4643785230c05f51a611 1
And its for 10 DASH so it IS the right one. From the output of gettxout I copy these values: DASH_UTXO=85fdad836bf20a151e0732959192883a4946afb148af4643785230c05f51a611-1
(I got this by combining the TXID with a hyphen and the ordinal of the vout above)
(I got this from the output of gettxout)
(I got this from the Value of the gettxout)
Looks Good, time to Sign It:
signmessage DASH_ADDRESS DASH_UTXO
Record this output as "DASH_SIG".
Moving on to BIBLEPAY:
In BiblePay, It will take 6,250,000 BBP to make a $1000 investment. At this time we will send 6MM BBP through a transaction to ourselves so that we have ONE VOUT with 6MM in it.
In BiblePay, go to Send Money, Inputs (remember if Coin Control is not enabled, enable it as you did above from DASH).
Look for the 6MM input. Right click on it and click Copy UTXO.
Keep the BIBLEPAY Full UTXO recorded for reference as "BBP_UTXO".
Navigate to the RPC : Tools | Debug Console
dashstake BBP_FULL_UTXO DASH_FULL_UTXO DASH_SIGNATURE 1
Replace the values accordingally. The 1 means do this for real (not as a dry run).
Congratulations! You now have a 6 month contract in which you will earn 6 staking rewards for the Dash+BBP stake!