Delegate Sponsorship Program
Overview of the IoTeX L1 Consensus
IoTeX uses a consensus mechanism called Roll-DPoS, based on Delegated Proof of Stake (DPoS). In this system, anyone can run a node, but only those who are voted in by token holders are eligible to produce blocks.
Token holders participate by staking IOTX, which gives them voting power. They can then delegate this voting power to a specific node (or “delegate”) of their choice.
Anyone can self-nominate as a delegate by creating a Delegate profile, which requires a self-vote of 1.2 million votes (usually done by staking ~1.2M IOTX, though this can be much less depending on lock-up settings).
All Delegates earn “epoch rewards” every hour based on the number of votes they’ve received. However, only the top 36 delegates by vote count are selected to actually produce blocks, which leads to higher rewards.
IoTeX Delegate Sponsorship Program
The IoTeX Delegate Sponsorship Program helps new delegates by sponsoring the initial 1.2M self-vote requirement. In return, delegate teams are expected to:
Contribute to the community
Share rewards with their voters
Promote their role and attract more votes to rank in the top 36
Apply to the Sponsorship program
If you’re interested in applying to become a delegate and potentially receive support through the IoTeX Delegate Endorsement Program, you can submit your application via this Google Form:
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