The SmartCash team recently released a new version of the SmartCash Node Client – v.2.0.6, adding various improvements and changes to the TermRewards feature.
Lily, one of the SmartCash team members, has released an English tutorial on the process of installing the wallet.
First of all you need to download the latest version of the wallet from the official SmartCash.сс website. This update is not mandatory, but if you have activated TermRewards / SmartRetire addresses or want to activate your address, you need to download this wallet and do reindex from scratch.
The video shows the process of installing the wallet on MacOS, but the process is almost the same on all OS.
Wallet synchronization will start, which may take about an hour or more, as the node client will start loading the entire blockchain.
Also, before installing a new version of the wallet, it’s always a good idea to do a backup. You can read more about it here.
In order to activate an address, the user needs to open the “Send” tab and send more than 101k+ SMART to its address. Before sending the transaction, next to the send button you need to select the option – TermRewards for 1,2 or 3 years or SmartRetire (15 years).
In the “TermRewards» tab, you can view a list of activated addresses, as well as the yearly %.
In the Russian video you can learn more about the latest TermRewards changes and see how the updated “TermRewards” tab will now look like. TermRewards and SmartRetire will now be paid timelocked before the end of quarter payment date. Also, the minimum collateral amount to activate an address for TermRewards or SmartRetire has been reduced to 101k+ SMART.