IRIS Network Delegation Guide

Put your IRIS to work and delegate to Staked!

3 min readMay 30, 2019

The IRIS Betanet officially went live on Friday, March 1, 2019.

To delegate your IRIS to Staked, please use the following validator address:

            iva18cjeeagwu6v2yx3ujv5452kdhget0w93ss9e6h

There is a 21-day unbonding process for staked IRIS during which delegated IRIS does not earn rewards and cannot be transferred, exchanged or spent. IRIS can however be slashed during the unbonding period.

Delegation is non-custodial and delegates cannot spend your IRIS. Staked pays 90% of the block rewards to delegates, and offers the industry’s only 100% SLA on block production.

Key Risks

IRIS Network’s staking model uses “hard slashing”, which means that customer funds are at risk of being slashed in the event of a) double-signing blocks and b) extended validator downtime. You could lose a portion, or potentially up to 5% of your investment by participating in staking. Consider the risks and choose a validator carefully.

Summary

IRIS Network is a Tendermint-based inter-chain service infrastructure and protocol for building trustworthy and distributed business applications. Intending to create a foundation for distributed business applications, the IRISnet hub aims to be a zone and regional hub connected to Cosmos main hub.

IRIS Network intends to address two primary challenges. The first challenge pertains to the integration and collaboration of off-chain computing and resources on a distributed ledger. The second involving interoperability of services across heterogeneous chains. IRIS full nodes, developed with the IRIS SDK, are proposed to provide a service infrastructure as well as offer integration with an embedded InterPlanetary File System “IPFS” node.

Network Economics (5/30/2019)

Similar to Cosmos, IRIS Network utilizes a model that supports multiple tokens. Tokens are held on various zones and can be transferred from zone to zone via the IRIS Hub. The IRIS Network expects to facilitate both staking tokens and fee tokens to support the operation of the network. IRIS, the native IRIS Network staking token, plays an integral role in consensus and governance. Validators stake IRIS and maintain the validator nodes in return for rewards. The inflation rate for the first year will be 4%.

IRIS Delegation Instructions

Download iriscli here.
To delegate your IRIS to Staked, enter the following command into the CLI:

iriscli stake delegate --chain-id=irishub --from=Staked --fee=0.3iris --amount=85iris --address-validator=iva18cjeeagwu6v2yx3ujv5452kdhget0w93ss9e6h

Note: The “100” in the command above should be replaced with the amount of IRIS you wish to delegate. The command above will delegate 100 IRIS.

The Rainbow Wallet is developed by the IRIS Network team, yet is not completely ready. The Rainbow Wallet Android APK and iOS Enterprise Version (Important: only for testing purposes and at risk of failure) are available here.

Have questions about getting started? Find time to speak here.

About Staked

Staked helps institutional investors reliably and securely compound their crypto by 5% — 100% annually through staking and lending. Staked runs validation nodes for proof-of-stake currencies and offers access to on- and off-chain lending options that provide an annualized yield of in-kind currency.

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