The purpose of the Interchain Foundation’s (ICF) first delegation was to help decentralize the network outside of the top validators and strengthen the entire network with trusted participants. We started with a simple replicable process based on data available in the genesis block and qualified trusted participants as those who competed in Game of Stakes and have proven their capabilities. We kept the criteria of the first delegation very simple and conservative. We trusted that validators would act in good faith and continue to attract additional delegations, beyond those from the ICF. We have evaluated the outcomes and heard the feedback from the community and have now made a second round of delegation.
The second round of delegation consists of approximately 1.35M ATOMs and went to validators with less than 250,000 ATOMs bonded.
For a given validator with X total ATOMs bonded, where X < 250,000, the ICF delegated the lesser of (0.5*X) and (250,000 - X).
For example, if Validator 1 has 10,000 ATOMs, the ICF delegated 5,000 ATOMs to Validator 1 (ie. 0.5*10,000).
If Validator 2 has 230,000 ATOMs, the ICF delegated 20,000 ATOMs to bring this Validator up to exactly 250,000 ATOMs
(ie. 250,000 - 230,000).
The purpose of this allocation was to help support the validators with the lowest stake and proportionally recognize them for actively participating and attracting delegation.
The ICF may continue to delegate some of its ATOMs in the future in a way that encourages a healthy validator set.
We thank all validators for their participation in securing and contributing to the Cosmos Network and continue to welcome feedback from the community.
The ICF reserves the right to change its delegations at any time. It may withdraw delegations from some or all of the validators it has delegated to and/or redelegate to specific validators at any point in time without any reason. Further, no validator may assert any claims against the ICF to delegate ATOMs to them. The ICF is under no obligation to delegate its ATOMs.
This document is for information purposes only with regards to the ICF's intention and is not binding in any way.
Ethan Buchman and Arianne Flemming, who are involved in the ICF delegation process, are running Toronto-based validator (Cephalopod Equipment Coop) along with Jordan Bibla (Lunie) and Greg Szabo (ICF). In order to avoid any conflicts of interest, despite meeting the delegation criteria, Cephalopod Equipment Coop has been excluded in this round of delegation.