Run a Data Reporter (testnet)

Operate a Data Reporter!

Prerequisites

• A working node.

• An account for creating a reporter that has either created or delegated to a validator.

1) Configure a Reporter on Tellor

Use the layerd cli register and initialize your reporter configuration. Commission-rate and min-tokens-required are shown at safe values, but can be adjusted (now or later) for personal preference:

# create-reporter [commission-rate] [min-tokens-required] [moniker] [flags]
./layerd tx reporter create-reporter 0.05 1000000 REPORTER_MONIKER --from YOUR_ACCOUNT_NAME --chain-id layertest-5 --fees 10loya --yes

Parameters:

• A (example) commission-rate of 0.05 means that you get 5% of rewards from your selectors.

• A (example) min-tokens-required value of 1000000 prevents spam by requiring that selectors have at least 1 TRB in their wallet. This can be changed later.

• Choose a REPORTER_MONIKER that you love! (It does not need to be the same as your validator moniker.)

2) Check if your reporter was created successfully:

./layerd query reporter reporters | grep -A 7 YOUR_TELLOR_ADDRESS

If your reporter was created successfully, this will output your reporter information.

3) Download the latest reporterd binary:

Linux

mkdir -p ~/layer/binaries/reporter && cd ~/layer/binaries/reporter && wget https://github.com/tellor-io/layer-daemons/releases/download/v0.2.0/reporterd_Linux_x86_64.tar.gz && tar -xvzf reporterd_Linux_x86_64.tar.gz && rm reporterd_Linux_x86_64.tar.gz

Mac

4) Create .env

Be sure to configure these variables here or in your shell. (The .env file is required even if it's empty):

ETH_RPC_URL_PRIMARY="wss://a.good.sepolia.rpc.url"
ETH_RPC_URL_FALLBACK="https://another.sepolia.rpc.url"
TOKEN_BRIDGE_CONTRACT="0x55355157703A44f7516FBB831333317E98944e32"
WITHDRAW_FREQUENCY=3600
REPORTERS_VALIDATOR_ADDRESS=tellorvaloper1egaks...
CMC_PRO_API_KEY=YOUR_COINMARKETCAP_API_KEY
SUBGRAPH_API_KEY=YOUR_GRAPH_API_KEY
INFURA_API_KEY=YOUR_INFURA_API_KEY
ALCHEMY_API_KEY=YOUR_ALCHEMY_API_KEY
CGPRO_API_KEY=CG-YOUR_COINGECKO_PRO_KEY

Note: The API keys are not required, but reporters should consider setting them to enable reporting for all tipped feeds. This ensures maximum earnings.

5) Start the reporter:

./reporterd --grpc-addr 0.0.0.0:9090 --from ACCOUNT_NAME --home ~/.layer --keyring-backend test --node tcp://0.0.0.0:26657

Note: Optional flags may be used to establish a stream of profit taking for your operation:

Optional flags for auto-unbonding: --auto-unbonding-frequency : The frequency (in days) with which you would like to withdraw rewards (unlocked after 21 days).

--auto-unbonding-amount : The amount of TRB (in loya) which you would like to auto-unbond.

--auto-unbonding-max-stake-percentage : A safeguard against automatically unbonding too much. Set this to a percentage of your stake ( 0.01 for 1%)

Here is an example start command for a reporter who wants to automatically unbond 2.999 TRB (2999999loya) per day with a maximum set to 1% of their total stake:

./reporterd --grpc-addr 0.0.0.0:9090 --from ACCOUNT_NAME --home ~/.layer --keyring-backend test --node tcp://0.0.0.0:26657 --auto-unbonding-frequency 1 --auto-unbonding-amount 2999999 --auto-unbonding-max-stake-percentage 0.01

You can set up a grafana dashboard using this_guide to monitor things in Tellor such as average gas price for submitting a report, block times, total bonded tokens, etc.

Congratulations on becoming a Tellor Reporter! 🎉

5.5 Additional Configuration for Coingekco

Currenly (layer-daemons / reporterd version v0.2.0) there is an additional configuration step to avoid rate limiting from the coingecko api. After starting reporterd the first time, stop your reporter and edit the custom query config file:

nano ~/.layer/config/custom_query_config.toml

Replace the coingecko url_template with the pro api endpoint. Be sure to replace YOUR_CG_API_KEY with your actual api key:

[endpoints]
    [endpoints.coingecko]
    url_template = "https://pro-api.coingecko.com/api/v3/simple/price?ids={coin_id}&vs_currencies=usd&x_cg_pro_api_key=YOUR_CG_API_KEY"