Since its launch on March 1, IRISnet has received an enthusiastic response from the global validator community, with the number of validators reaching 100 within a short period of time. We hereby express our sincere thanks to all the validators and candidates.
Maintaining a reasonable level of bonded ratio is critical to a PoS network like IRISnet. As a result, the IRIS foundation has chosen to bond a portion of its controlled tokens to the network, the delegation rewards earned this way will be burned quarterly, and the withdraw address has been publicized here.
After more than two months of operation, based on feedbacks from some validators and the broader community, we make the following public statement on the criteria for the foundation to select validators:
The validator’s self-bond shall be at least 10000 IRIS.
This standard will be carried out 1 week later, to ensure better alignment of interests between validators and the IRISnet project. The minimum self-bond criterion will be adjusted as the project goes forward, and any future adjustments will be announced before they are implemented.
The greater the validator’s contribution to the IRISnet community, the better.
Those who excel in browser/wallet/tool/app development and/or community outreach will be preferred.
The higher the Uptime, the better.
Uptime for short term (24 hours), medium term (30 days) and long term (60 days or more) will be considered in a holistic manner.
Validator’s commission rate should be reasonable.
In principle, the lower the commission rate, the more attractive; however, a high level of Uptime is a prerequisite.
The higher self-bond amount and self-bond ratio, the better.
Thank you for your support of IRISnet!