StaFi Validator Incentive Program - DropsEarn
StaFi Validator Incentive Program

StaFi Validator Incentive Program

    The StaFi team launched validator incentive program to help them develop the community and get rewards for it.

    Reward pool
    Not set
    Expected profit
    from ~ $50
    Max participants
    DropsEarn score
    Neutral

  • Activity Type: Community Investment Development Validator
  • Date: 1 Dec 2020 12:00(UTC+3) - 31 Dec 2020 12:00(UTC+3)
  • Registration: Open
  • Event status: You can participate (Event started, Registration open)
  • Links: Application Form Official Announcement
Go to event page

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Detailed information 

Currently, StaFi has opened a limited number of seats for nominators, and many validators who have contributed a lot to StaFi are still in the waiting list. To make up for that, the StaFi team launched a nomination incentive program to motivate validators who have made significant contributions. In the initial issuance of FIS, the StaFi team has allocated up to 40% of FIS in order to pay for those community members. For example, the rewards for Phase1 of Sitara incentive testnet and StakingDrop will be taken from this allocation. Team will roll out more campaigns including StakingDrop or DevelopmentDrop to help the community grow. The token incentives for outstanding validators were also from the community incentives.

Nomination rules 

Team favor those validators who

  1. Actively participated in the Sitara incentive test network
  2. Are willing to speak up and answer others’ questions in the community
  3. Have experience in node operation
  4. Attracted many votes from a lot of nominators, even in the waiting list

Team may not consider a validator who

  1. Is currently running multiple nodes, out of which at least one has been elected.
  2. Got the nomination from too many nominators than what was allowed (A validator can be nominated by up to 256 nominators currently.)

Withdrawal of nomination

Team select and nominate outstanding validators to facilitate the development of StaFi. Therefore, team will withdraw the nomination even by the end of one cycle when a validator:

  1. Whose network is very unstable, fails to sign or drops out multiple times.
  2. Performs double-signature or multi-signature.
  3. Attacks the StaFi network.

StaFi Validators Contribution Details

Validators can submit your contributions in Google Forms . To facilitate reading, please read requirements and make clear, detailed statements, in the form of a PDF file, and then upload it to Google Forms.

If you have submitted in the Google form according to requirements, then congratulations, you have made a big step. Team will carefully evaluate the contributions you have made by the above criteria and determine future nominations. For those excellent validators, team will reward them extra FIS as incentives. 

The timetable of submission and assessment

  • Submission period: December 1–15, 2020
  • Assessment period:December 16–31, 2020
  • Nomination and reward distribution: January 1–7, 2021

Generally, in each quarter, a validator can submit their contributions during the first half of the last month, and team will assess that within the next two weeks. Rewards and nominations are issued in the first week of the next quarter. Team will also remind validators to submit through Twitter and Telegram channels. The assessment results will also be released to the community promptly.


About StaFi Protocol

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. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.

Socials

Website: www.stafi.io
Twitter:@Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
Forum:https://commonwealth.im/stafi