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Validator Grant Program Recap For StaFi Chain

Since September 2019, StaFi mainnet has been running smoothly for nearly two years. In the past two years, the number of selected validators on StaFi mainnet has remained at 160. Up to now, there are 75 validators in the waiting list. We hereby reinstate our deep gratitude to those who have supported and helped us since our Sitara Incentive Testnet.

In order to help the community better understand the StaFi mainnet status and attract more validators to join the StaFi mainnet to bring more vitality, the StaFi Foundation will regularly analyze and summarize the StaFi mainnet status and synchronize it with our community. This article will focus on the analysis of StaFi mainnet status, the issues and the validator grant program.

StaFi Chain Validator Key Stats

We elaborate the StaFi mainnet status through the following data after in-depth analysis and summary:

1.The amount of selected validator: 160

2.Minimum elected amount of FIS: 15,930.10 FIS

3.Validators with commission below 10%: 143

4.Validators with self-bound below 10 FIS: 96

5.Validators who get the nomination from less 2 nominators: 101

But the above five data points cannot fully explain the StaFi mainnet status. For more detailed data, such as the amount of nominated validators, commissions, the amount of validators‘ self-bound and the analysis based on these data can be seen in this table.

Some Issues We Found

However, when the StaFi team did some soul-searching recently regarding the situation of StaFi validators, some issues caught our attention:

1.Some validators run multi-nodes at the same time, which poses great challenges to the security of the StaFi Chain in terms of decentralization.

2.There are only a few professional institutional validators, which means the low exposure in the top renowned validators group.

3.The delegation of StaFi Foundation has not sufficiently reached its purpose of motivating validators.

4.Only a few validators have set up on-chain Identities.

5.The commission setting of part of the validators who are granted by the Foundation is too high.

As all StaFi rToken Apps are evolving, a range of smart contracts which are more complex in nature are being deployed on StaFi Chain. This has increased the demand for StaFi Chain Validators.

In order to address this requirement and attract more validators to join in the StaFi mainnet we think it’s very necessary to clarify the validator nomination rules and cancel the nomination from who have been granted.

Delegation Grant Summary

StaFi Foundation will use invitations, community applications and grant the validators in the waiting list to optimize the current StaFi validator ecosystem.

1.Invitations

StaFi Foundation will proactively direct invitations to well-known institutional validators to run the nodes on the StaFi chain.

These institutional validators will generally have to meet the following two conditions:

1) high visibility

2) important partners of StaFi ecosystem

2.Select the validators from waiting list

Most of the validators in the waiting list are individual developers and we will select some potential validators to nominate to make the StaFi mainnet more decentralized. The selection is based on the following rules:

1. The commission is set below 10%, which is in line with the StaFi Foundation’s requirements for validators on StaFi mainnet.

2.The amount of nominators. The more nominators, the greater the influence of the validator in the community. The specific amounts of nominators depends on the amount of nominators for each validator in the waiting list.

3. The amount of self-bound. The StaFi Foundation tends to select validators with a large number of self-bound, it can reflect the comprehensive strength of the validator to a certain extent.

We select the validators to be nominated in this In this round according to the above rules:

3.Community Application

StaFi Validator Program will also open applications to the community, and any professional Validation Provider will be able to apply.

StaFi Foundation made a comprehensive judgment on the basis of the applications submitted and the contribution to StaFi rToken ecology. Applicants who have made important contributions to the ecological development of StaFi will be given priority.

Link to the application form: https://forms.gle/GzEeF2Xjonat52EN

For validators who have been nominated by the StaFi Foundation but have not submitted their contributions or whose contributions have not passed the review, the StaFi Foundation will gradually cancel the nomination. The rules for canceling the nomination are as follows:

1. The node is unstable, causing signing omissions or withdrawal multiple times.

2. The validator is double-signing or multiple-signing.

3. The validator attacks the StaFi network.

4. Commission is set at more than 10%.

5.The validators who have no on-chain identity.

We select the validators that will be canceled the nomination in this round according to the above rules:

Learn More

1.A Tutorial for Validators:

https://docs.stafi.io/stafi-chain/network/participants/validator-sv/become-a-validator

2.StaFi App: https://apps.stafi.io/

3.Apply for Validators: https://forms.gle/GzEeF2Xjonat52EN6

About StaFi

StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. rToken is a synthetic staking derivative issued by StaFi to users when users stake PoS tokens through StaFi rToken App . rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.

Website | rToken App | Twitter | Telegram | Discord | Forum

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