Making VSC Staking Easier (and Safer!) with a Simple Tool

in Synergy Builders9 days ago (edited)

So, @ecoinstant, came to me the other day with a request: could we host a simple, one-page tool? Just a single file with HTML, Javascript, and CSS. Seemed straightforward enough.

The tool itself is designed to help users stake HIVE tokens onto the VSC sidechain. I took a look at the existing script, which was originally put together by @drlobes the Ferengi (gotta appreciate a fellow Star Trek fan!). Checking it out, I saw it was built using the dhive library and, importantly, required users to input their active key directly into the interface.

I don't wanna!

Now, asking users to paste their active key straight into a web tool... yeah, that didn't sit right with me. Keys, especially active keys, need careful handling. From a security perspective, it just felt like asking for potential problems down the road. You know me, always thinking about security.

So, I offered to rework the tool. My go-to solution for situations like this is to integrate Hive Keychain for handling the necessary signatures. This way, your key never actually leaves the safety of your Keychain extension, which is a much more secure approach for everyone. Instead of pasting a key, you'll just get a Keychain pop-up to approve the transaction.

Why build this? Well, I guess up until now, people wanting to stake HIVE on VSC were often manually crafting the custom JSON requests needed, maybe using the Keychain playground or writing little temporary scripts. That works, sure, but it definitely leaves room for typos or other errors. Since there's potential money involved when staking, making the process easier and reducing the chance of mistakes seems like a worthwhile effort. We figured we could make it simpler and safer.

Big props to @drlobes for creating the original script that laid the groundwork for this, included in the bennies!

I'll include a screenshot or two here so you can see the updated tool in action:

The simple interface for staking HIVE to VSC.

Using Keychain for secure transaction approval.

The tool is live now: https://vsc.thecrazygm.com and if you really want to use the original one, I did put it up as well, but it's there for comparison to make sure I got the custom_json right.

Hopefully, this little tool makes the VSC staking process smoother and, more importantly, safer for everyone involved. Always happy to build things that make life on Hive a bit easier.

As always,
Michael Garcia a.k.a. TheCrazyGM

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How does staking work on VSC? The transaction doesn't do anything on layer 1 (except for a custom JSON). I don't get it.

Good question for @vaultec !

The transaction is executed on the VSC L2. You'll need to have balance on VSC in order for the staking operation to work. This is consensus staking so it is locking up Hive to participate in VSC consensus. We also support HBD staking which earns 15% APR while still being transferable

Ok, so I guess that before executing the staking operation, a transfer to a separate account needs to take place for it to be valid on the L2, correct?

Correct! @vsc.gateway to be exact

When HBD? 😎

This tool will support HBD (does already in fact), but the VSC network is not ready for that - YET!

I asked VSC at X and he mentioned HBD staking and that you could then distribute it somewhere else...but of course, for a pool you need two currencies...because I would do a node but I don't have enough knowledge so I don't want to bother with that...

"soon"!

Hehe, "soon" is a very stretchy term, but I believe it will be soon... otherwise, this bridging thing is also happening on other blockchains, so I hope we're not too late.

Thanks for your contributions to the VSC project