Slashing in Axelar
Slashing is a way for the protocol to punish non-performing validators in Axelar.
So when a delegator chooses a validator who has been slashed for various reason that will affect the delegator’s token in turn as well.
There are 2 types of slashing
1 — Delegator/validator loses their tokens
2 — Delegators/validator does not lose their tokens but not get rewards
Lets explain both of these in detail
1 — Delegator/validator loses their tokens
When the validator goes offline or loses liveliness then the validator get jailed after a period of time.
downtime
When that happens the validator and the delegators who has chosen that validator will loose 0.01% of their holdings.
Say the delegator has 10000 AXL tokens they will lose 1 AXL token.
double sign
Say if the validator double-signs a block then the penalty is 2%. Say the delegator has 10000 AXL tokens they will lose 200 AXL token.
2 — Delegators/validator does not lose their tokens but not get rewards
incorrect votes
When the validators votes incorrectly over a period of time then the validator will be automatically be unregistered from the chain. So during that time the validator/delegator will stand to lose out on the rewards that could have been acquired.
The tokens that were staked will all be safe, the reward that should have been received if the validator voted correctly will not be received.
These are the 2 types of slashing mechanisms in Axelar.
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Brightlystake is a validator in axelar ecosystem. We are validators/collators/operators in about 14 different ecosystems and counting including the likes of Moonbeam, Axelar etc.
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