Sifchain’s Validator Delegation Program
Earlier this year Sifchain launched its Betanet with a live decentralized exchange (“DEX”) and cross-chain support to the Ethereum network. To help ensure a smooth network deployment, Sifchain initially launched with a cohort of Validators managed by the Ecosystem Fund and Team Treasury Reserve. Now with a more mature network and thriving community, Sifchain is taking steps to usher in further decentralization by re-delegating most of its tokens currently staked by the Ecosystem Fund and Team Treasury Reserve to its Validator ecosystem. Rowan generated from these delegations will go to the Ecosystem Fund.
Sifchain’s Validator Delegation Program is designed to decentralize liquidity on the Sifchain platform to create a more secure network as well as to foster the growth of an active and committed Validator ecosystem. As part of this program, Sifchain will re-delegate tokens to qualified ecosystem Validators that demonstrate commitment to adding value to the network. Throughout this transitional period of re-delegation, Sifchain will decommission its own Validators.
If you would like to be a part of our mission to build the most performant omni-chain DEX (and be rewarded for your contributions), then you should apply to participate in Sifchain’s Validator Delegation Program!
Validator Delegation Criteria
All Validators play an important role in the success of any Proof of Stake network. Accordingly, Sifchain will be delegating a share of Rowan tokens to existing Validators who have been active contributors to the Sifchain network as well as to new value-generating Validators that commit to support the growth of the network via various activities and initiatives.
The amount of tokens delegated to a Validator (up to 1 million Rowan for most Validators) will be influenced by 3 criteria:
- Voting power
- Self-bonded stake value
- Community contributions
Together, these inputs will produce a delegation value that is weighted to favor those that have added value to the network through community contributions such as building tools, supporting integrations, and community building.
Future contributions will also be an important factor as ongoing performance will be periodically evaluated. Validators that add more value to the network may be delegated a greater share of tokens following these evaluations. Conversely, Sifchain may choose to redelegate or undelegate Rowan from particular Validators based on performance.
For inspiration, consider contributing in one of the following areas (or reach out to us on Discord to discuss ideas):
- Technical contributions: Building tools, cross-chain interoperability, supporting SifCore’s test chainops infrastructure debugging, etc.
- Integrations: Wallet support, block explorer support, analytics services, etc.
- Community contributions: Hosting events, running local communities, awareness campaigns (via articles, videos etc.)
Become a Sifchain Validator and Apply for Delegation
In order to be eligible to receive delegations through this program, Validators must satisfy the following eligibility requirements:
Initial Eligibility Requirements
- Your validator node must already be set up on the Sifchain Betanet before you submit your application
- Your validator node must have a minimum self-bonded stake of 10,000 Rowan
- Your validator node’s staking commission rate must not be more than 10%, and no less than 2%
- Validator nodes must connect to a dedicated telemetry for monitoring (upon request)
If you would like to be considered for receiving a share of delegated tokens, then please complete the program application before the deadline on November 18th, 2021.
**Applications have now closed.**
Add Value to Grow Your Reputation and Rewards
At a minimum, program participants are requested to satisfy the following requirements in order to maintain their share of delegated tokens:
Ongoing Program Requirements
- Validator nodes must sustain uptime greater than 99.5%
- Validator nodes must upgrade to the latest version within 12 hours of its release if it is labeled “critical” or “high” priority, and within 24 hours if it is labeled “medium” or “low” priority
- Validator node operators must be responsive within 24 hours of contact on an as-needed basis
All delegations will be made publicly-accessible on the Mintscan block explorer which also displays Validator rank by voting power and is a signal of reputation.
View our active list of Validators anytime → https://www.mintscan.io/sifchain/validators
If a Validator fails to satisfy any requirement for any reason (eg. getting slashed, not upgrading on time), then the Validator will lose rank and may need to re-apply for program participation.
SifDAO, which will administer this program, may change these rules and/or undelegate from any validator at any time.
Let’s Grow Together
Your success is our success and we are here to support hard working contributors to the Sifchain ecosystem. In addition to boosting, or even kickstarting, your Validator in the form of delegations, we have also established dedicated resources for those interested in becoming a Sifchain Validator or learning more about the delegations program.
Discord server for technical support
We are committed to ensuring the utmost security and robustness of our network, and our validator ecosystem is playing a major role on this front. We are excited to collaborate with you and push the ecosystem forward. We hope you’ll join us on this value-generating journey!
Get in Touch with Sifchain
Official Channels
Media & content creators, contact us at communications@sifchain.finance.
