In a Proof-of-Stake network, token delegation is an important way that token holders can put their assets to use by helping to secure the network. For example, to support and encourage healthy decentralization in the ecosystem, the Agoric Systems Operating Company (i.e., Agoric OpCo) delegates its token to validators who operate nodes on the Agoric network.
In total, the Agoric Opco holds 125M BLD, or 12.5% of the total network supply of tokens , and will use them to decentralize the distribution of stake across the validator set as the network grows.
During an initial round in February 2022, the Agoric OpCo delegated 34 million BLD tokens to validators in the Agoric community. This delegation was made from an account with the following address agoric1euw2t0lxgeerlpj0tcy77f9syrmgx26ehdx3sq and details are visible via block explorer .
In order to receive and maintain delegation, validators were asked to meet minimum baselines for operating a node, and to share their commitment to do so by publishing a Validator Pledge . Those baselines include:
- Detailed hardware baselines for operating a node on the Agoric Network,
- Maintaining an uptime of at least 95%,
- Setting a reasonable commission rate,
- Committing not to exceed 10% voting power,
- Actively participating in security and upgrade governance proposals,
- Contributing to the network by doing one task from each of the following categories:
- Category 1: Infrastructure
- Run a testnet node
- Run an RPC endpoint
- Run a Chainlink oracle node for Agoric
- Build a block explorer, validator dashboard, or other community tool
- Category 2:
- Write and deploy smart contract components
- Create educational content about building with Agoric
- Present at an event on governance proposals, validator experiences and best practices, or provide other relevant community updates.
- Category 1: Infrastructure
At any time, the Agoric OpCo may undelegate, redelegate, or change the amount of token delegated to a validator for any reason including but not limited to failure to meet the established minimums outlined above. Additional delegations to improve decentralization of stake may be made at any time.
As part of a broader community, the Agoric Opco encourages everyone who participates in the ecosystem to act in the best interests of the community. To foster a culture of cooperation and collaboration, we encourage everyone with a role in the ecosystem to do their own due diligence, give the benefit of the doubt to others, and continue to actively participate in important conversations in our shared community forums on Discord, Commonwealth.im, and elsewhere about issues that impact the health and resilience of the Agoric Network.
With respect to token delegation, the Agoric OpCo and the Decentralized Cooperation Foundation (i.e. the DCF) are separate entities, and they do not communicate on behalf of one another. Only the Agoric OpCo can speak authoritatively about the details and activities of the OpCo delegation program, and only the Decentralized Cooperation Foundation can speak authoritatively about the details and activities of the DCF delegation program.
As the Agoric network continues ramping up to mainnet-1 launch and beyond, many entities and individual token holders will begin to participate in staking. The Agoric network and ecosystem are permissionless, and though transactions are shared on a public, immutable ledger,
- We believe token holders have a right to privacy of their holdings and delegation decisions.
- We believe that the community should not expect token holders to link their identities with their public addresses
- We believe that the community should not attempt to identify token holders, unless the owner or entity associated with an account chooses to disclose information about an account or transaction on their own.
- We believe that the community should not engage in speculation that attempts to attribute motive to transactions on the network.