2021 Disbursement 2: Final qualification update
The final list of validators who will receive TDP delegations is available here. Validators that are marked as delegate will receive TDP delegations. Validators marked as undelegate were previous recipients of TFL delegations that did not qualify this round.
As a recap, there were only 4 qualifications this round:
1. Have a complete Validator Profile:
Example of a perfect pull request Here.
Example of a perfect finished profile Here.
2. Commission at or below 10%: at all snapshots.
3. Bombay Testnet must be active: at all snapshots.
4. You must have applied through the link below by 8.18.21 9 PM KST:
https://forms.gle/Sycuk24t38Pu72UX9
Links were posted publicly on Discord and Twitter when snapshots were complete.
Delegations will be weighted for decentralization. The target voting percent this round was 0.73% per qualified validator. This means the TFL fund will weight distributions to flatten the voting curve. The delegations this round will range from -1,580,626, to 3,030,252 LUNA. Redelegation will take place within a month of the Columbus-5 launch.
The Terra Delegation Program will run again, following successful redelegations from this round. There is no date set for the next round. It will be announced on Discord and Twitter as soon as applications open.
The new total luna delegated from TFL will be 131,624,718. This will move the Nakamoto coefficient of the network from 7 to 10. This means that if the top 10 validators all failed at once, the network would halt. The 10 validators at the time of analysis are:
- Orion.Money
- Staking Fund
- B-Harvest
- Staked
- DokiaCapital
- Mosaic
- Hashed
- Bison Trails
- Terran One
- Luna Maximalists
This Nakamoto coefficient represents a marked improvement over prior periods. Terra has matured to a point where network decentralization is healthy but still imperfect. In the spirit of Terraform Labs, we remain committed to the pursuit of perfection.
The best way to further promote decentralization is through community education and validator outreach. That is why we will only delegate to validators with a blue checkmark. This signifies that they have completed a Validator Profile and are available for contact via email. We only delegate to validators below a certain voting threshold to prevent further centralization of validators with too much LUNA. A perfect network at 130 validators would have a maximum distribution of 0.77% voting power per validator (1/130) If a validator is above this threshold, they are moving toward a centralized network.
Thank you and congratulations to all of the faithful validators who qualified for the Terra Delegation Program. I look forward to an even larger group of qualifying validators next cycle.
All delegations are ultimately at the discretion of Terraform Labs.
