create-validator
transaction, provided they meet the minimum self-delegated amount of 100FX. From there, they become validator candidates.create-validator
transaction, where they must fill out the following parameters:PubKey
: The validator's public key is your public key for your validator's address
. The private key associated with this Tendermint PubKey
is used to sign prevotes and precommits.create-validator
is processed.create-validator
is processed.fxvalconspub
(To get the public key, run the command fxcored tendermint show-validator
).fxcored
and used to sign transactions.fxpub
and an address prefixed by fx
.fxcored keys add
.Note: A validator's operator key is directly tied to an application key, but uses the address (prefixed withfxvaloper)
and public key (prefixed withfxvaloperpub)
for consensus and governance purposes.
create-validator
transaction, they can be in three states:Active validator set
: Validator in the active set and participates in consensus. Validator is earning rewards and can be slashed for misbehavior.Jailed
: Validator misbehaved and is in jail, i.e. has been kicked out off the validator set. If the reason for being jailed is due to being offline for too long, the validator can send an unjail
transaction in order to re-enter the active validator set. If the jailing is due to double signing, the validator cannot unjail.Inactive
: Validator is not in the active set, and therefore not signing any blocks. Validator cannot be slashed, and does not earn any reward. It is still possible to delegate FX to this validator. Once a validator becomes inactive, all delegators will start unbonding from this validator automatically.delegate
transaction from your validator's account.100FX
.unbonding
transaction. Delegators to this validator who unbond their delegation must wait the duration of the UnbondingTime, a 3 weeks unbonding period, during which time they are liable to being slashed for potential misbehaviors committed by the validator before the unbonding process started.undelegate
from a validator, the amount of FX
that was requested for undelegation will be locked in unbonding state for 21 days. For simplicity, we call this the 21 day cooldown. After the 21 day cooldown passes, a user will be able to make transactions with the FX
that was previously in unbonding state. This cooldown also applies to certain scenarios in redelegation. In order to redelegate a portion of delegated FX from Validator A → Validator B, there are two options a user could choose from.~10%
of the blocks.FX
.100*80%*1% = 0.8 FX
100*20% + Commission = 20.8 FX
100*80% - Commission = 79.2 FX
40% * 1675 = 670
FX goes to the reserve pool.9*R + (R + R*5%) = 1005 ⇔ R = 1005/10.05 = 100
R + R * 5%
: 105 FX105 * 80% * 1%
= 0.84 FX105 * 20% + Commission
= 21.84 FX105 * 80% - Commission
= 83.16 FX (each delegator will be able to claim its portion of these rewards in proportion to their stake)100 * 80% * 1%
= 0.8 FX100 * 20% + Commission
= 20.8 FX100 * 80% - Commission
= 79.2 FX (each delegator will be able to claim their portion of these rewards in proportion to their stake)unjail
their validators after a 600s (10minute) window.100FX
. Even though there is no obligation for validators to self-delegate more than 100FX
, delegators should want their validator to have more self-delegated FX in their staking pool. In other words, validators should have skin in the game.