Tutorial: Transferring MPOND from Matic to Ethereum

<p>Mina is a decentralized proof-of-stake blockchain with a constant-sized chain of ~22kb, which is possible due to utilising zero knowledge proofs.</p><p><strong>Such a small size allows anyone to synchronise the chain almost instantly making participation in consensus quick and efficient.</strong></p><p>Developers will be able to build <a href="https://minaprotocol.com/docs/architecture/snapps?ref=p2p.org">SNARK-powered applications</a>, Snapps, on top and empower privacy and data security features and users will be able to control their personal information through sharing proofs instead of the data itself.</p><h2 id="current-state-market-potential">Current State &amp; Market Potential</h2><p>Mina Protocol was successfully launched on mainnet on March 23, 2021, after more than two years of continuous research and development.</p><p>The problem of personal data has become more relevant than ever. According to <a href="https://www.csis.org/analysis/economic-impact-cybercrime?ref=p2p.org">CSIS</a>, two-thirds of people online suffered from bad actors resulting in leaks of personal data. Adding to this, more than <a href="https://notified.idtheftcenter.org/s/resource?ref=p2p.org#annualReportSection">290 million identities were compromised</a>  in 2020 alone.</p><p>Giving up the right to verify data by a single third party leads to the risk of giving it to the wrong entities. Through being a light-weight protocol,<strong> Mina allows anyone to run a node, increasing the number of participants who add up to the decentralization at lower cost of operating an infrastructure.</strong></p><p>For example, current Bitcoin chain size is over 320Gb while Mina would allow full node security with just ~22kb of data, by utilizing recursive zk-SNARKs (a type of zero knowledge proof), eliminating the requirement for nodes to store the whole chain state.</p><h2 id="token-allocation-utility">Token Allocation &amp; Utility</h2><p><a href="https://minaprotocol.com/blog/mina-token-distribution-and-supply?ref=p2p.org">Mina raised ~$29 million</a> from over <a href="https://minaprotocol.com/about?ref=p2p.org">46 institutional backers</a>, including Accomplice, Paradigm, Fenbushi, Naval Ravikant and Bixin Ventures.</p><p>The overall token allocation looks as follows:</p><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/4LCyUILYTJx73CcdbQcprJiykrcsXh8OM1fCH0O8N2rWgNTq4K6To0kc3haEmCxOYPYnNl-AJJk2iCE3Ajsj_6oN6ZHTD7zKvkIc4DKDcMKk_VsrlN9pfYsnJ38N4Z7vuocSO_1M" class="kg-image" alt loading="lazy"></figure><p>Mina native token is a staking unit serving the purpose of securing the network and incentivizing nodes to provide their services. Transaction fees are also denominated in the native MINA token, as well as SNARKs, which are necessary to maintain the lightness of the Mina blockchain.</p><p>There will be a MINA <a href="https://coinlist.co/mina?ref=p2p.org">public sale via Coinlist</a> on 13th of April. To acquire tokens you should register in advance and await further instructions.</p><h2 id="staking-economics">Staking Economics</h2><p>Mina currently uses <a href="https://minaprotocol.com/blog/how-ouroboros-samasika-upholds-minas-goals-of-decentralization?ref=p2p.org">Ouroboros Samasika</a> consensus. Block producers for a particular epoch (~14d 21h) are selected using verifiable random function and <strong>chances to win a slot are proportional to the delegated stake</strong>.</p><p>During the first year, block rewards will target an annual inflation of 12% decreasing down to 7% after 2 years. Each successfully produced block contains a coinbase (reward for producing the block), which is currently equal to 720 MINA. If the account that has won a slot has no locked up tokens on a balance (e.g. users who purchase tokens from the Coinlist sale), the block coinbase will be supercharged resulting in a double reward. Supercharged rewards are in place for the first 15 months of mainnet.</p><p><strong>Holders can delegate their funds in a non-custodial manner to earn a share of rewards in proportion to their stake.</strong> Staking since the beginning of the mainnet will result in higher returns for delegators.</p><p><em>We encourage delegators with locked tokens to transfer rewards to a separate fresh address and stake from there to increase the chances of a supercharged coinbase.</em></p><h2 id="slashing-risks">Slashing Risks</h2><p>There is no risk of slashing due to the specifics of Ouroboros consensus family. Nevertheless, in order to receive a reward a block producer must be online at a given time slot.</p><h3 id="useful-mina-resources"><strong>Useful Mina resources</strong></h3><ul><li><strong>Website</strong>: <a href="https://minaprotocol.com/?ref=p2p.org">minaprotocol.com/</a></li><li><strong>Github</strong>: <a href="https://github.com/MinaProtocol/mina?ref=p2p.org">github.com/MinaProtocol/mina</a></li><li><strong>Docs</strong>: <a href="https://minaprotocol.com/docs/getting-started?ref=p2p.org">minaprotocol.com/docs/getting-started</a></li><li><strong>Technical</strong> <strong>Whitepaper</strong>: <a href="https://minaprotocol.com/static/pdf/technicalWhitepaper.pdf?ref=p2p.org">minaprotocol.com/static/pdf/technicalWhitepaper.pdf</a></li><li><strong>Economic</strong> <strong>Whitepaper</strong>: <a href="https://minaprotocol.com/static/pdf/economicsWhitepaper.pdf?ref=p2p.org">minaprotocol.com/static/pdf/economicsWhitepaper.pdf</a></li><li><strong>Blog</strong>: <a href="https://minaprotocol.com/blog/?ref=p2p.org">minaprotocol.com/blog/</a></li><li><strong>Forum</strong>: <a href="https://forums.minaprotocol.com/?ref=p2p.org">forums.minaprotocol.com/</a></li><li><strong>Community</strong>: <a href="https://discord.com/invite/Vexf4ED?ref=p2p.org">discord.com/invite/Vexf4ED</a></li></ul><hr><p><em>Want to stake Mina with us? Visit p2p.org/mina to find out more about Mina staking and our special offer. </em></p><p><em>If you have any questions, feel free to join our</em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em> Telegram chat</em></a><em>, we are always open for communication.</em></p><p><em>Special thank you to <a href="https://twitter.com/etekis?ref=p2p.org" rel="noopener noreferrer">Emre Tekişalp</a> for the contributions to this article.</em></p><hr><h2 id="about-p2p-validator">About P2P Validator</h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $3 billion in staked assets by over 10,000 delegators across 25+ high-class networks. P2P Validator is an early genesis member and one of the early seed peer providers. We have been participating in Mina since the first testnet and intended to support Mina in the long term.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">p2p.org</a></p><p><strong>Stake MINA with P2P:</strong> <a href="https://p2p.org/mina?ref=p2p.org">p2p.org/mina</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>LinkedIn: </strong><a href="https://www.linkedin.com/company/p2p-org/?ref=p2p.org">LinkedIn.com/company/p2p-org</a></p><p><strong>Telegram: </strong><a href="https://t.me/P2Pstaking?ref=p2p.org">t.me/P2Pstaking</a></p>

<p><em>This delegation guide will walk you through the steps of staking MINA tokens using the client interface to earn <a href="https://p2p.org/mina?ref=p2p.org">Mina Protocol staking</a> rewards. </em></p><p>To get started, please ensure that you have a wallet funded with MINA tokens.</p><h3 id="step-1-set-up-the-environment">Step 1: Set up the environment</h3><p>To get started here, install Ubuntu 18.04/Debian 9. Upon successful installation, please follow the steps outlined below: </p><ol><li>Add repository:<br><strong>echo "deb [trusted=yes] http://packages.o1test.net release main" | sudo tee /etc/apt/sources.list.d/mina.list</strong></li><li>Update:<br><strong>apt-get update</strong></li><li>Install the latest Mina daemon:<br><strong>apt-get install -y curl unzip mina-mainnet=1.1.3-48401e9 </strong><br>(check release notes for the newest version)</li></ol><p>To confirm correct configuration, check the version:<br><strong>mina version </strong><br>(you should see: <em>Commit 48401e92d94948c066c03ca76326c065e5cbfc92 on branch master</em>)</p><h3 id="step-2-delegate-mina">Step 2: Delegate MINA </h3><p>Upon successfully configuring the staking environment, refer to the steps below to start delegating. </p><p>1. Unlock your account.</p><pre><code class="language-bash">mina account unlock -public-key $MINA_PUBLIC_KEY</code></pre><p>2. Delegate to a selected block producer. </p><p>If you wish to stake with P2P, use our delegation address: <br><strong>B62qs2Lw5WZNSjd8eHBUZXFYyRjV8oKtrZMFDn1S1Ye62G71xCQJMYM</strong></p><p>3. Paste the following code:</p><pre><code class="language-bash">mina client delegate-stake \ -receiver B62qs2Lw5WZNSjd8eHBUZXFYyRjV8oKtrZMFDn1S1Ye62G71xCQJMYM \ -sender $MINA_PUBLIC_KEY \ -fee 0.1</code></pre><p>Your delegation will start to take part in consensus after the next epoch or two (~15 - 29 days). There is no MINA un-bonding period and staking rewards are distributed manually every epoch (~14d 21h) and automatically staked if your account is delegating.</p><p>If you delegate from an account with locked tokens <strong>it is highly recommended to transfer your rewards to a separate fresh account and stake from there to increase the probability of receiving a supercharged coinbase</strong>.</p><hr><p><em>If you have any questions, please refer to our</em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em> Telegram chat</em></a><em>. We are always open for communication.</em></p><hr><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading staking provider with the best industry security practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities. <strong>At the time of the latest update, more than three billion of USD value is staked with P2P Validator by over 10,00 delegators across 25+ networks</strong>. Our infrastructure is under advanced monitoring with alerts and 24/7 technical support making it the best choice for institutional investors.</p><hr><p><em><strong>Web</strong></em>: <a href="https://p2p.org/?ref=p2p.org">p2p.org</a></p><p><em><strong>Stake MINA with us</strong></em>: <a href="https://p2p.org/mina?ref=p2p.org">p2p.org/mina</a></p><p><em><strong>Twitter</strong></em>: <a href="https://twitter.com/P2Pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><em><strong>Telegram</strong></em>: <a href="https://t.me/P2Pstaking?ref=p2p.org">t.me/P2Pstaking</a></p>