How to Bind a Miner in FILLiquid

Before borrowing from Filliquid, it is necessary to transfer the beneficiary of the Miner to the 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the beneficiary of the Miner to the contract is a pledge operation, so the tokens held by the Miner cannot be withdrawn to any address other than the contract, which can effectively prevent the loss of funds and damage to the user's interests.

On the other hand, if the beneficiary address is the Miner of the contract, once the withdrawal operation occurs, the tokens involved cannot be withdrawn, so withdrawal errors should be avoided as much as possible.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.

In addition, due to Filecoin's limitations, Miners with multiple signature addresses are not supported. Users with binding requirements can transfer the Miner's Owner to a single address and then perform subsequent operations if conditions permit. The specific process will not be described here.

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:

A. Process through the Filliquid interface

Enter the Filliquid dApp interface ( http://47.88.77.217:3000/staking ), click Connect Wallet, and bind the wallet.

Next, click the Borrow tab (or visit the http://47.88.77.217:3000/borrow ), scroll down to the My Family tab, and click "Add Miner."

On the next page, click "Next."

In the Miner Address text box, enter the actorID of the miner and click Next.

In the following interface, copy the Keys, sign the string with the Owner address through a node or other tool, copy the result to the text box, and click Next.

Before this step, please make sure that the Owner address holds a certain amount of tokens, otherwise the execution will fail. This step will take some time. Please be patient and wait for the transaction to be confirmed on the chain.

Once the transaction has confirmed, copy the Keys from the following interface, then sign the string with the Owner address through the node or other tool, and copy the result to the text box. Once complete, click Next.

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.

B. Submit proposals through nodes (Lotus, Venus, etc.)

NOTE: (lotus node users see https://lotus.filecoin.io/storage-providers/operate/lotus-miner-cli/#lotus-miner-actor-propose-change-beneficiary )

* Please note that when modifying the Beneficiary, you need to fill in two parameters, Quota and Expiration, which represent the amount of Beneficiary and the height of expired blocks respectively. Filliquid requires Quota = 99999999999999999999999999999999999999999999999999 and Expiration = 9223372036854775807

Users need to specify the Filliquid contract address, which will be provided on our official website. The corresponding actorID can be found in various blockchain browsers.

And submit a Change Beneficiary proposal to convert Beneficiary to Filliquid contract actorID.

After the proposal transaction is put on the chain, you can continue to operate through the interface through the method introduced in the previous text. After entering the actorID of the miner, you will enter the third step to Confirm. Refer to the corresponding steps in the previous text.

Exiting the Miner Family

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.

A. Operate through the Filliquid interface

Go to the Filliquid dApp interface, click the Borrow tab (or visit the http://47.88.77.217:3000/borrow ), 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 node 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.

B. Or submit proposals through nodes (Lotus, Venus, etc.)

(lotus node users see NOTE: https://lotus.filecoin.io/storage-providers/operate/lotus-miner-cli/#lotus-miner-actor-propose-change-beneficiary )

Submit a proposal to change the Beneficiary to the Owner address.

After the proposal transaction is put on the chain, you can continue to operate through the interface through the method introduced in the previous text. After entering the actorID of the miner, you will directly enter the second step of Confirm. Refer to the corresponding steps in the previous text.