Cosmostation Supports Sui Network as an Active Node Validator
Cosmostation is supporting Sui network as a node validator since genesis. In the article are how Cosmostation is supporting Sui Network as a node validator.
Sui Mainnet is LIVE
We are thrilled to announce that Cosmostation is an official genesis validator for the Sui network! As one of the 100 active validators in the Sui ecosystem, we are committed to maintaining the security and stability of the network while staying available to the Sui community for $SUI delegations. Our team’s dedication to the decentralized movement continues to grow, and we are excited to embark on this new chapter as we expand our horizons to offer support for the innovative Sui Network.
Cosmostation’s Role as a Sui Node Validator
Securing the Network
Sui Network uses a system called Delegated Proof-of-Stake (DPoS) to decide which validators help run the network and their influence. Validators are motivated to act honestly by earning rewards from fees and staking from delegators. If they misbehave, they can lose some of their stake and rewards; if they behave well, they can earn good rewards for themselves and their delegators, keeping the network safe and reliable for everyone.
As a validator with a history of dedication to many DPoS blockchain space, Cosmostation aims to offer Sui delegators a dependable choice. Our focus on network security, stability, and openness aligns with the community’s interests. Cosmostation has always been a validator for the community, focused on the end-users.
Setting Gas Fees
Choosing a reliable validator is important to the network and its delegators as it’s directly related to the network security and staking rewards. Validators can also contribute to the network user experience by setting the reference gas fees.
In the Sui network, a single gas price exists for each epoch. Validators update it when a new epoch starts. The Gas Price Survey mechanism determines the reference gas price by collecting validators’ minimum prices and picking the 2/3 percentile based on the stake. This ensures most transactions have a gas price that validators accept for prompt processing.
Distributing Maximal Staking Rewards
Unlike the most DPoS networks, Sui staking rewards can be different depending on a validator. There can be several factors affecting the amount of staking rewards pool and APY of a validator including gas price, tallying score, and etc.
Sui Staking Rewards consist of two main entities: stake subsidies + gas fees.
Gas fees are collected from Sui networks users whenever they make a transaction onchain, whereas stake subsides are provided by the network to encourage validators and delegators to stake $SUI in the early stages of the network. 1.11M $SUI are scheduled to be distributed to the validators and delegators in the first 90 epochs as subsidies. They will decrease by 10% after every 90-epochs.
As you can see in the picture above, gas fees are nothing compared to stake subsidies at this point, but they should gradually increase as the network matures over time.
The stake subsidies are meant to be distributed evenly to all validators according to their stake amount unless there’s a difference in tallying score — this is a score set by validators evaluating each other based on their performances throughout epochs. The Tallying Rule’s goal is to create a community-enforced mechanism for encouraging validators to honor the reference gas price.
It is still an early stage, but validators’ APY differences are as big as more than 1% in some cases, and no one wants to earn 1% less on their rewards. Sui validators will be put on tests every epoch to prove their ability.
Here’s a simple $SUI staking guide for $SUI holders who want to start staking $SUI and earn rewards:
https://medium.com/cosmostation/sui-staking-guide-how-to-earn-sui-from-staking-a7ff455a5b08
About Sui Network
Sui is a smart contract platform powered by a permissionless group of validators in DPoS mechanism. By enabling parallel processing of transactions, Sui optimizes processing resources and boosts throughput as needed, pulling out scalability and low-latency as its core values.
Sui uses simple, low-latency methods for basic transactions, such as payments and asset transfers. This unique approach opens up new possibilities for latency-sensitive applications, including gaming and retail point-of-sale payments. Built using Rust, Sui supports smart contracts in Sui Move, an asset-centric adaptation of Move, allowing the creation, transfer, and modification of assets with custom rules.
About Cosmostation and Splash
Cosmostation has been a web3 infrastructure team contributing to more than 50 protocols since 2018. Our suite of products include Mintscan block explorer, Cosmostation non-custodial crypto wallet, and node validator service. At Cosmostation, we bootstrap networks and onboard end-users.
Splash is a brand of Cosmostation with the focus on the Sui ecosystem. There are 3 products powered by Cosmostation team under Splash brand: Splash mobile wallet, Splash Dash, and Splash Endpoints.
Links
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