IoTeX Delegate Documentation
  • Introduction
    • 👋 Welcome
    • What is a Delegate
    • Delegate Requirements
    • Benefits and Rewards
    • Hardware requirements
  • Get Started
    • Profile registration
      • Delegate Accounts
      • Name Registration
      • Staking Bucket
      • Server Information
      • Rewards Policy
      • Profile Data
    • Node Configuration
      • Acquire a server
      • Install requirements
      • Install the node software
      • Run the node
      • Verify the node status
    • Advanced
      • Server provider
      • Edge Proxy
      • Kubernetes
      • High Availability
      • Gravity Chain Binding
      • Improvements
    • Hosted Service
    • Delegate Endorsement
      • HIW
  • Delegate Management
    • Access the portal
    • Delegate Performance
    • Delegate Rewards
    • Profile settings
    • Advanced Configuration
  • Addendum
    • Profits Projections
    • Glossary
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On this page
  • Key Features
  • How It Works
  • Benefits
  • Rewards Distribution
  • Implementation Notes
  • Get Started
  1. Get Started

Delegate Endorsement

Delegate Endorsement is a feature introduced to the IoTeX Network that allows aspiring Delegates to participate in governance and consensus without directly meeting the self-staking requirement of 1.2 million IOTX tokens. By leveraging endorsements from other stakeholders, this system fosters inclusivity, decentralization, and broader participation within the IoTeX ecosystem.

Key Features

For Delegates

  • Participation Without Self-Stake: Aspiring Delegates can now register and accept endorsements from stakeholders to meet the 1.2M IOTX staking requirement.

  • Streamlined Process: Delegates register with a 100 IOTX fee and can accept endorsement requests without needing to self-stake.

  • Governance Inclusion: Gain eligibility to participate in consensus and governance, contributing to the network’s direction.

For Endorsers

  • Support Delegates: Stake IOTX to endorse aspiring Delegates, enabling them to join the consensus process.

  • Earn Rewards: Endorsers share in block rewards and bonuses based on the endorsement agreement.

  • Flexible Staking Options: Stake endorsement buckets with customizable durations, including auto-stake options for rewards.

How It Works

Roles and Operations

Delegates

  • Register Without Bucket: Register as a Delegate by paying 100 IOTX. Initially, Delegates are not eligible for consensus.

  • Accept Endorse Requests: Delegates can accept endorsement requests from Endorsers, unlocking eligibility to participate in consensus.

  • Terminate Endorsement: Delegates can terminate endorsements as needed.

Endorsers

  • Stake Endorsement Bucket: Create endorsement buckets by staking at least 1.2M IOTX for a chosen duration.

  • Submit Endorse Request: Propose endorsements to Delegates. Once accepted, the bucket becomes locked for the endorsement period.

  • Revoke or Cancel Endorsement: Endorsers can revoke active endorsements or cancel pending requests.

Endorsement Process

  1. Delegate Registration:

    • Delegates register with a 100 IOTX fee.

    • Registered Delegates are not eligible for consensus until endorsed.

  2. Endorsement Bucket Creation:

    • Endorsers stake at least 1.2M IOTX to create an endorsement bucket.

    • Buckets can have customizable staking durations, with options for auto-stake bonuses.

  3. Endorsement Request Submission:

    • Endorsers select a bucket and propose an endorsement to a Delegate.

    • The endorsement includes an expiration date, determining the period for which the Delegate can participate in consensus.

  4. Accepting the Endorsement:

    • Delegates accept the request, and the bucket becomes locked until the endorsement is terminated.

    • The Delegate is now eligible to participate in consensus.

  5. Termination:

    • Endorsements can end through expiration, revocation, or Delegate termination.

    • A protection period ensures smooth transitions for both parties.

Benefits

For Delegates

  1. Accessible Participation: No need to own 1.2M IOTX tokens to join the network.

  2. Reputation Building: Gain visibility and credibility by securing endorsements from stakeholders.

  3. Focus on Governance: Participate in consensus without managing self-staked assets.

For Endorsers

  1. Reward Opportunities: Earn rewards through block production, bonuses, and negotiated agreements with Delegates.

  2. Active Governance: Influence network direction by empowering credible Delegates.

  3. No Node Management: Participate without the technical or operational burden of running a node.

Staking Method

Rewards

Requirements

Risks

Self-Stake Delegate

1.06x rewards

Run a node + 1.2M IOTX

Full self-responsibility

Endorse Delegate

Negotiable (~1.06x)

1.2M IOTX stake

Potential penalty if Delegate misbehaves

Vote Delegate

1x rewards

Small token amounts

Minimal risks

Rewards Distribution

  • Rewards come from block rewards, foundation bonuses, and epoch bonuses.

  • Endorsers receive their share of rewards based on the endorsement bucket, which also benefits from the self-stake bonus (1.06x).

  • Reward splits between Delegates and Endorsers are arranged off-chain.

Implementation Notes

  • Compatibility: The endorsement mechanism integrates seamlessly with IoTeX’s existing staking system.

  • Security: Endorsement locking ensures stability and protects against abrupt changes.

  • Flexibility: The ability to revoke endorsements with a protection period balances stability with adaptability.

Get Started

  1. Visit stake.iotex.io to explore Delegate Endorsement.

  2. Register as a Delegate or create an endorsement bucket to support the IoTeX ecosystem.

  3. Shape the future of IoTeX with greater inclusivity and decentralization!

For detailed discussions and updates, visit the Delegate Endorsement Forum Thread.

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Last updated 4 months ago