The following is an updated framework for Treasury network delegations and we invite the community for feedback.
Treasury delegations since genesis have been loosely managed using basic constraints with a range of caveats encompassing disparate obligations and needs as they arose. We needed to heavily incentivize our initial set of validators in order to effectively bootstrap the network at genesis.
We need to revisit our existing delegations and prioritize a different set of factors since our market and project has matured. To create a more flexible but resolute delegation framework, we are proposing a basic framework to a “constitution” that will help govern the delegations of the project’s treasury. Moving forward, the delegation framework will still retain the flexibility required to evolve with the network, but the baseline requirements will be guided by our experience and needs as a maturing market and ecosystem.
Our delegations will be earned and maintained by consistent, professional, and accretive contributions to the Akash Network. We will govern delegations to validators per the following principles and parameters:
1. Max Validator Commission: 3% - Validators are free to set their commissions as they see fit, but delegations from the project will generally be reserved for validators with a commission of 3% or less.
2. Max Rank Cap: Akash will generally not delegate to validators ranked 25 or higher (voting power). Overriding obligations or extraordinary contributions by validators will still enable additional delegations despite being top 25.
3. Concentration & Decentralization:
- Akash will generally not delegate to validators with >5% of voting power
- Akash will generally not delegate >2mm AKT per validator
4. Validators must proactively contribute to the community. For example:
- Vitwit: strategic technical partners, Discord moderator, maintains testnet leaderboard, assists community and maintaining Aneka’s block-explorer
- Forbole: Maintaining BigDipper, deploying production ready-applications on Akash.
- Cosmostation: Maintaining Web and Mobile Wallet and Mintscan.
- Develop and maintain technical literature such as deployment guides, hosting applications, validator infrastructure (API/RPC, sentry, testnet nodes, websites, production grade applications, developer/network tooling, etc)
5. Validators must maintain operational excellence, be commercially responsible, and maintain a technically sound and secure validator.
6. Validators should maintain a trustworthy public presence with a website and/or on social media that clearly indicates they’re validating Akash, with clear contact information for delegators for support.
7. Active participation in governance proposals and upgrades. Being absent for critical proposals is a dereliction of a validator’s duties and will significantly impact Akash’s delegations.
8. Additional delegation bonus: hosting non-critical infrastructure, such as the validator’s website, sentry nodes, or other workloads on Akash and sharing that with the community. Include “Powered by Akash” logo on websites, validator pages, etc for infrastructure running on the Akash Cloud.
9. Akash will review its delegations approximately once per month and make necessary updates to its delegations according to the parameters stated previously. At the same time, Akash will also review these parameters and make updates as necessary.