Account Leasing allows a user to lease its forging power to another account for a fixed period of time. This feature enables the creation of forging pools, where the forging power of multiple users is combined to increase the chance of generating a block. Account leasing is also relevant if a user wants to take part in the forging process without having to keep a node running 24/7.
How to lease your balance
To access Account Leasing screen, please follow below steps
- Visit https://digitals-asset.io/index.html and log in.
- From Dashboard screen, click on “More info” at Account Balance as shown below
- Account Detail will show as below, click on tab Account Leasing
- Click on Lease your balance to another account.
- Lease your account form will shown as below
RECIPIENT: address of the account you wish to lease your balance to.
PERIOD: for how long your balance will be leased. Expressed in blocks (1440 blocks is roughly 24h). Between 1440 and 65535. You cannot cancel a leasing once submitted.
FEE: fee you wish to pay. The minimum is 0.02 DAS.
PASSPHRASE: the passphrase of your account.
- Click Lease Balance.
How does it work
When you lease your balance, you are essentially giving your forging power to another account. It is important to clarify certain points:
Your balance never leaves your account
- Your funds are still on your account after you lease them. They are still available for use: you can spend them, receive more etc. The only thing given is your forging power, by consequence while your balance is leased, you will not be able to forge on your own.
- If your funds vary, so will do your forging power. If you lease 1000 DAS to a forging pool and the next day you spend half of them, you are now leasing only 500 DAS.
- This also means that the person you lease your balance to will not be able to do anything with your funds. They are still under your control.
You cannot cancel a lease
- This is important, so make sure you keep this in mind when you set the leasing period. When the leasing period expires, the forging power will return to you automatically. Not before.
You have control over your funds, not the rewards of block generation
- If you decide to lease your balance to a forging pool or a wealthy owner of DAS, there is no guarantee you will be payed accordingly when (if) a block is generated. So, make sure you lease your forging power to someone you trust will pay your share.
Uses of account leasing
This feature introduces two main benefits.
Firstly, you no longer need to leave your node running 24/7 in order to take part on the forging process. You can lease your balance to someone that does.
NOTE: it is still highly suggested to run as many nodes as possible. It strengthens the stability and the security of the network.
Secondly, it allows the formation of forging pools where multiple users can combine their forging power to increase their chance of forging a block. Any DAS forged is not automatically sent to your account, it’s up to the pool owner what to do with it.