Evmos Foundation Delegation Program Is Now Open
We are thrilled to announce the start of the Foundation Delegation Program, a way to enhance decentralization, strengthen network security, and recognize community contributors. Let's explore the key program details, its timeline, and how to participate.
Why Foundation Delegations?
Evmos believes in rewarding decentralization efforts and aligning key players, such as validators, developers, and explorers, with the long-term health of the network. One of our primary objectives is to improve network security by decentralizing the validator set. This not only upholds censorship resistance but also maintains a general ethos of consensus security on the blockchain itself.
Another objective is to recognize validators for their ongoing and consistent contributions to the Evmos network. The Evmos Foundation acknowledges significant efforts of numerous validators and aims to establish an inclusive reward system. To achieve these objectives, the Foundation Delegation Program identifies exceptional validators who have made significant contributions to the network and delegates to them accordingly. Notably, this program involves the Evmos Foundation delegating up to 5% of the overall staked tokens on the network at the time of deployment, with a maximum of 50 validators included in each delegation cycle. Delegations are conducted on a rolling 6-month basis to ensure fairness and adaptability.
The Program Structure
Let's dive into the timeline, eligibility criteria, contribution criteria, and application process for the Evmos Foundation's Delegation Program.
Timelines
- Application Period (Weeks 1-4): Application period has started on October 23, 2023 and will close on November 19.
- Evaluation Period (Weeks 5-7): Validator applications will be reviewed and scored during this three-week period.
- Deployment Period (Weeks 8-10): Delegations will be executed from the Foundation's accounts.
- Delegation Cycle (Weeks 10-34): Delegations will take place, ensuring a rolling basis of cycles.
- Begin Re-Evaluation Period (Week 28): The re-evaluation period begins before a cycle ends to ensure fairness and adjust the delegation policy if needed.
Eligibility
For validators to be eligible for a delegation, they must meet mandatory criteria and avoid undelegation criteria. These criteria ensure that validators are committed to network performance, security, and governance.
Mandatory Criteria
Mandatory criteria include Performance & Participation, Security and Decentralization and conditions for inactive validators. Some of these criteria, but not limited to, include:
- Have been part of the network for at least 3 months before the deployment period.
- Maintain an uptime of at least 90% in the last 3 months.
- Participate in at least 80% of governance votes since joining the network.
- Have not been slashed or jailed within the last 3 months.
- Not be associated with a centralized exchange.
The program page contains all detailed information about mandatory criteria.
Contribution Criteria
When applying to the program, validators can demonstrate their contributions to the Evmos network, that include but are not limited to code contribution, documentation enhancement, educational content creation or active governance participation. Points are awarded based on the effort and impact of these contributions. The contribution categories include engineering and tooling, public goods and infrastructure, and community and governance support. You can find detailed contribution criteria and the scoring system on the program page.
Scoring System
The Foundation uses a transparent points system for evaluation to ensure transparency and fairness for the applicants. Points are awarded based on the effort and impact of contributions, with each point representing a certain amount of EVMOS delegation.
For some categories awarded points are uncapped - there's no limit to the number of points that can be given to validators in total. However, each validator can receive maximum one point for each subitem in a category. For instance, if a particular contribution is made by multiple validators, each validator may receive 1 point.
In categories with capped points, there is a maximum allocation of points to be distributed among all applicants. For example, Points are not given in fractions here and are rounded to the nearest integer. For example, if a contribution is submitted by a single validator, that validator receives the entire allocation of points. If the same contribution is repeated by multiple validators, the available points are evenly distributed among them.
Application
To apply for the Foundation Delegation program, validators can fill out the application form below. Validator addresses should be included in the email for identification purposes.
The application is open now, and you can submit your applications until November 19th.
Join us in strengthening the Evmos network and contributing to the future of blockchain technology. We look forward to your participation in this exciting journey!
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About Evmos
Evmos is an EVM-compatible, IBC-enabled blockchain in the Cosmos ecosystem designed for cross-chain dApp development.
The Evmos Core Development Team is on a mission to create and ship the foundational tools necessary for building the cross-chain applications of the future. With groundbreaking roadmap features like EVM Extensions, the Evmos SDK, and the Evmos dApp Store, Evmos gives developers the freedom to take advantage of the IBC and connect their smart contracts to the Cosmos Ecosystem.
This revolutionary technology frees developers from the confines of today’s siloed blockchains.
The future is cross-chain.
Helpful Resources
💻 Developer Documentation: https://docs.evmos.org
👾 Official Discord: https://discord.gg/evmos
🐙 GitHub: https://github.com/evmos/evmos
🕊 Twitter: https://twitter.com/EvmosOrg
📯 Telegram: @EvmosOrg
📄 Blog: https://blog.evmos.org
🖥 Evmos Website: https://evmos.org
🌋 Evmos Jobs Board: https://boards.eu.greenhouse.io/evmos
Evmos is the EVM stack for building natively cross-chain decentralized applications.
We encourage you to read the Evmos Manifesto and learn more about our plans to build a cross-chain future.
DISCLAIMER: None of this is financial advice. This content is strictly for educational purposes. It’s not investment advice or a solicitation to buy or sell any assets.
