How to Bind a Miner in FILLiquid
Last updated
Last updated
Before borrowing from Filliquid, it is necessary to transfer the beneficiary of the Miner to the Filliquid contract() and bind the Miner to the designated F4 wallet address as the Family.Then, the F4 address can perform the necessary operations on the protocol, such as borrowing, repayment, and unbinding for the Miner.Transferring the beneficiary of the Miner to the contract is a pledge operation, so the tokens held by the Miner cannot be withdrawn to any address other than the contract, which can effectively prevent the loss of funds and damage to the user's interests.
Note: After changing the beneficiary address to the Filliquid contract, please refrain from directly using the Owner to perform a withdraw operation. Once a withdraw operation occurs, the involved tokens cannot be retrieved, so it's crucial to avoid accidental withdrawals as much as possible.
Binding the F4 address requires the specified signature of the Miner's Owner, thus ensuring the security of the operation process.
Before binding a Miner, users need a basic understanding of Filecoin's consensus mechanism and the ability to operate corresponding tools, including—but not limited to—changing Miner beneficiaries, information signing, etc.
Additionally, due to Filecoin's restrictions, a Miner with an Owner that is a multi-signature address is not supported. The Owner address must be an F3 address and cannot be an F1 or F4 address.
The following introduces the detailed process of binding Miner. Assuming that the user already owns a Miner and its Owner address, and the current Owner and Beneficiary addresses are consistent:
Enter the Filliquid dApp interface ( ), click Connect Wallet, and bind the wallet.
Next, click the Borrow tab, scroll down to the My Family tab, and click "Add Miner."
In the "Miner Address" input field, enter the miner address you want to bind (an address starting with f0), then click "Next."
Here, two binding methods will be displayed. Method 1 involves the miner completing the beneficiary transfer themselves. Method 2 involves authorizing Filliquid to complete the beneficiary transfer on behalf of the miner owner. Below, both methods are described separately.
Method 1: Use the miner management tool to perform the operation yourself (recommended).
When modifying the Beneficiary, you need to provide three parameters: NewBeneficiary, Quota, and Expiration. These represent the new beneficiary address, the amount of the beneficiary, and the block height of expiration, respectively. You must fill in these values according to the table below; otherwise, the binding will fail.
NewBeneficiary
Quota
99999999999999999999999999999999999999999999999999000000000000000000
Expiration
9223372036854776000
Lotus
Venus
By using the above command, you can submit the beneficiary change proposal. Once the transaction is confirmed on the blockchain, you can click "Next" to proceed to Step 3.
Method 2: Authorize Filliquid to complete the beneficiary transfer on behalf of the Owner.
Before proceeding, make sure the Owner address holds a sufficient amount of tokens, otherwise, the operation will fail. This step may take some time, so please be patient while waiting for the transaction to be confirmed on the blockchain.
In the interface, copy the Keys, and use the Owner address with a miner or other tool to sign this string. Then, paste the result into the input field and click "Next." How to complete the signature?
In the interface, copy the Keys and use a miner or other tool to sign the string with the Owner address. Then, paste the result into the input field and click "Next." How to complete the signature?
This step will activate the wallet.
Taking metamask as an example, please click confirm to continue.
Before this step, please ensure that the wallet address holds a certain number of tokens, otherwise the execution will fail. This step will take some time, so please be patient and wait for the transaction to be confirmed on the chain.
Once the execution is successful, click OK.
The binding is now complete.
In addition, users can also exit the Family if conditions permit. For this to occur, the miner must have zero debt, the bound Family has no bad debts, and the ratio of the remaining miner's debt to balance after exiting the Family is less than 50%, etc.
Go to the Filliquid dApp interface, click the Borrow tab , scroll down to the My Family tab, and click Unbind.
On the next page, click "Next."
In the following interface, copy the Keys, sign the string with the Owner address through a miner or other tool, copy the result to the text box, and click Next.
Before this step, please make sure that the Owner's address holds a certain token. Otherwise, the execution will fail. This step will take some time; please be patient and wait for the transaction to be on the chain.
Click Confirm in the following interface.
This step will activate the wallet.
Try the corresponding command based on your miner type. The signature needs to be completed using the miner Owner's private key.
Lotus
Venus
