AUTO-COMPOUND

An auto-compound repository is a software project that enables validators to automatically accumulate rewards. Validators are individuals or entities that contribute computing power to maintain the security and integrity of a blockchain network. In return for their service, validators receive rewards in the form of cryptocurrency.

An auto-compound repository provides a convenient and efficient way for validators to maximize their earnings in a DeFi network. By automating the process of reinvesting rewards, validators can achieve exponential growth in their cryptocurrency holdings, while minimizing the amount of time and effort required to manage their investments.

1. Setup a hot wallet

Generate a new hot wallet you will use to automatically carry out the staking transactions. The mnemonic will need to be provided to the script so use a dedicated wallet and only keep enough funds for transaction fees.

2. Setup project

Clone the repository and build it

git clone https://github.com/Yummy-Capital/auto-compound
cd auto-compound
npm install
npm run build

3. Grant authorization to hot wallet

Option 1: using chain-maind

Grant authorization to withdraw validator commission:

~/chain-maind tx authz grant <grantee> generic \
--allowed-validators <validator> \
--msg-type "/cosmos.distribution.v1beta1.MsgWithdrawValidatorCommission" \
--from <granter> \
--gas 100000 \
--gas-prices 0.05basecro \
--chain-id crypto-org-chain-mainnet-1 \
--node https://rpc.mainnet.crypto.org:443

Grant authorization to delegate:

~/chain-maind tx authz grant <grantee> delegate \
--allowed-validators <validator> \
--from <granter> \
--gas 100000 \
--gas-prices 0.05basecro \
--chain-id crypto-org-chain-mainnet-1 \
--node https://rpc.mainnet.crypto.org:443

Option 2: using grant script

cp env/grant.sample.env env/grant.env

Populate your new grant.env file with your chain, grantee address, mnemonic and validator address.

Running the script

npm run grant

4. Setup auto-compound script

cp env/compound.sample.env env/compound.env

Populate your new compound.env file with your chain, delegator address, mnemonic and validator address.

Running the script

npm run compound

5. Setting up cron/timers to run the script on a schedule

You can setup your script to run at the same time. Two methods are described below: using crontab or using systemd-timer.

In both cases, ensure your system time is correct and you know what time the script will run in UTC, as that will be required later. Both examples below are for run every hour.

Using crontab

Note: A helpful calculator for determining your auto-compound timer for crontab can be found here: https://crontab.guru/.

crontab -e

0 * * * * /bin/bash -c "cd /path/to/auto-compound && npm run compound" > ./auto-compound.log 2>&1

Using systemd-timer

Systemd-timer allows to run a one-off service with specified rules. This method is arguably preferable to Cron.

Create a systemd unit file

The unit file describes the application to run. We define a dependency with the timer with the Wants statement.

sudo nano /etc/systemd/system/auto-compound.service

[Unit]
Description=auto-compound service
Wants=auto-compound.timer

[Service]
Type=oneshot
WorkingDirectory=/path/to/auto-compound
ExecStart=/usr/bin/npm run compound

[Install]
WantedBy=multi-user.target

Create a systemd timer file

The timer file defines the rules for running the auto-compound service every hour. All rules are described in the systemd documentation.

Note: Helpful calculator for determining auto-compound times for OnCalendar can also be found at https://crontab.guru/.

sudo nano /etc/systemd/system/auto-compound.timer

[Unit]
Description=Auto-compound timer

[Timer]
AccuracySec=1min
OnCalendar=*-*-* *:00:00

[Install]
WantedBy=timers.target

Enable and start everything

sudo systemctl daemon-reload
sudo systemctl enable auto-compound.service
sudo systemctl enable auto-compound.timer
sudo systemctl start auto-compound.timer

Check your timer

sudo systemctl status auto-compound.timer

  ● auto-compound.timer - Auto-compound timer
  Loaded: loaded (/etc/systemd/system/auto-compound.timer; enabled; vendor preset: enabled)
  Active: active (waiting) since Mon 2023-03-20 01:51:48 UTC; 14s ago
  Trigger: Mon 2023-03-20 02:00:00 UTC; 7min left
  Triggers: ● auto-compound.service

Check your service

sudo systemctl status auto-compound.service

  ● auto-compound.service - auto-compound service
  Loaded: loaded (/etc/systemd/system/auto-compound.service; enabled; vendor preset: enabled)
  Active: inactive (dead)
  TriggeredBy: ● auto-compound.timer