#11 | Foundation Delegation Program
· 3 min read
Nibiru’s Foundation Delegation Program is aimed at creating an open, decentralized, and community-run chain. That starts with the decentralization of our validator community.
🎯 Objectives of the Nibiru Foundation Delegation program
Validators play a crucial role in the health, performance, and security of a proof-of-stake network. The program seeks to delegate the Foundation's tokens to a selected group of active validators contributing significantly to the ecosystem.
The primary objectives of the program are to:
- Recognize and reward validators who actively contribute to the ecosystem.
- Support the growth and decentralization of the validator community. The program will help smaller, independent validators gain early delegations and earn additional commission on staking rewards.
- Promote a balanced distribution of stake across various dimensions, such as validator types, geographies, data centers, service providers, and operational setups.
The goal of the program is to diversify the network, support independent validators, and create a level playing field. Tokens will be strategically deployed to balance the active validator set across various dimensions, such as validator types, geographies, data centers, service providers, and operational setups.
📋 Responsibilities
To maintain delegations, validators are required to meet the following requirements.
📈 Performance
- Uptime of at least 95%
- 2% ≤ Commission Rate ≤ 10%
- Voting Power ≤ 7% of the network
- Minimal slashing rate
- Timely upgrades following announcement of protocol releases
- KYC / KYB conducted for formal agreements
🌐 Ecosystem Involvement and Commitment
- Testnet participation
- Ambassador Program ranked as Giga Ambassador or higher to be viewed more favorably
- Continued ecosystem contributions
- Active and available in the Discord server or easily contactable elsewhere.
- Transparent communication with delegators and positive reception
🔍 Selection Criteria
⚙️ Technical
🤝 Community Contributions
🎓 Education
📝 Describing our Process
As the incentivized testnet phase nears completion, we will analyze data on Nibiru validators, including on-chain metrics and community input. This comprehensive evaluation will help us understand each validator's contributions and rank them based on the selection criteria. Token delegations will then be assigned accordingly.
We believe that the Foundation Delegation Program is an incredible opportunity for our community members to truly understand and appreciate the hard work and dedication of our validators.
As a validator, your participation in this program is critical to its success. We value your input and insight into the inner workings of the network, and we want to hear directly from you about your experience and your ideas for how to improve the network. If you are interested in participating in the program and we haven't yet reached out to you on Discord, Telegram, or via email, please don't hesitate to reach out to one of our administrators on Discord. We would be more than happy to send over the questions and involve you in the program.
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