Current Status

🟢 Application period open until August 14! Total delegation for this epoch (01.09.2022 - 30.12.2022): 6M $BTSG

Please link your issue if you applied before. You don't need to use the template in that case as we only need the changes compared to the initial application. Otherwise create a new issue by using the template.

BitSong Delegation Program

The Bitsong delegation program was created to encourage and support contributions from validators. To incentivise these contributions the Bitsong S.r.l. allocated a special fund containing 6M Btsg. In order to ensure a fair distribution a special delegation DAO has been created which will work independently in the evaluation of the final delegations.

Amount of tokens available for the Campaign:

• 6,000,000 btsg (6 Milion)

Prerequisites

• Basic information is set on chain (explorebitsong & mintscan): Contact information (website, twitter, telegram, etc.), details, avatar/logo.
• No delegation without application. To receive the uptime or self stake delegation validators will also need to apply.

Rules

• Maximum commission is 10%.
• A validator must have voted on all governance proposals during the previous epoch.
• Validator uptime (over previous epoch) of 98% or above will receive full points. An uptime of 95% and lower than 98% will cut your points cut in half. An uptime below 95% will not be considered for the BitSong Delegation Program.
• 1 soft slash is allowed during 1 epoch, when the 2nd soft slash happens the validator will lose their BitSong Delegation and can't submit for a delegation next epoch.
• When a validator suffers from a hard slash the validator will lose their BitSong Delegation and can't submit for a delegation for at least 6 month (duration decided by the BitSong Delegation DAO).
• The Delegation DAO reserves the right to completely exclude validators from the program if valid evidence of harmful behaviour is presented.
• One delegation per organisation is allowed. Therefore, the term validator in the following also refers to the respective organisation/brand and not only to the specific on-chain validator.

Delegation criteria

• Max 2000 points: Participation in the BitSong ecosystem score (Social media, Telegram, Discord, but also writing documentation, guides, posts ect.). SCORE: decided by the BitSong Delegation DAO.
• Max 3000 points: Core development score. SCORE: decided by the BitSong Delegation DAO.
• Max 2500 points: None core development score. SCORE: decided by the BitSong Delegation DAO.
• Max 2000 points: Running relayers with a specific uptime score. SCORE: decided by the BitSong Delegation DAO.
• Max 1500 points: Running an archive node with a specific uptime score. SCORE: 98% uptime or less will result in 0 points otherwise (1 - (1 - Uptime / 100) / 0.02) * 1500 points.
• Max 1000 points: Running an public rpc/api with a specific uptime score. SCORE: 98% uptime or less will result in 0 points otherwise (1 - (1 - Uptime / 100) / 0.02) * 1000 points.
• Max 1000 points: Commission restake score (what percentage is the validator committed to self delegate off his gained commission during the epoch). SCORE: Percentage self staked * 1000 points.
• Max 1000 points: Self delegation score (what is the validators ratio between self stake and voting power). SCORE: 0.5% or less will result in 0 points. Furthermore, at least 500 BTSG must be staked to be eligible for the self stake. If less than 5000 BTSG are staked the score is limited to 500 points. Otherwise Self stake / Voting power * 1000 points.
• Max 1000 points: Testnet support SCORE: TBD

Total max: 15000 points.

Additional info

• 98% uptime => ~7days downtime per year (https://uptime.is/98)
• When the Delegation DAO lacks the required knowledge and/or experience to evaluate and score a specific criteria it will consult an independent 3rd party to advise.
• Self delegation score can also include 1 external address that will be manually verified by the BitSong Delegation DAO.

Points multiplier

A multiplier will be assigned to your delegation criteria score based on a validators current voting power without the BitSong delegation. The multiplier will range from 0.01x to 1x where the lowest validator will get a 1x multiplier and the number 1 validator receives a 0.01x multiplier.

Assigned delegation based on points

The total points (after applying the multipliers) of all participants represents the total BitSong delegation of a given epoch. All validators will get their BitSong delegation in ratio of their individual score vs the total score.

Example

Validator A has an uptime of 99.5%. They did not participate in the BitSong ecosystem and also did not add any core development value. Validator A created a small faucet bot and it was decided to give it 1400 points for that from the None core development criteria. No relayers have been setup. Validator A does have a full archive node running, but they forgot to monitor it and it had an update of 98.1% since last epoch. For this validator A gains (1 - (1 - 98.1 / 100) / 0.02) - 1500 = 75 points. The full archive node was also rpc/api enabled for the public gaining another (1 - (1 - 98.1 / 100) / 0.02) - 1000 = 50 points. They also had a separate public rpc/api node available with an uptime of 99.9% which gained them (1 - (1 - 99.9 / 100) / 0.02) - 1000 = 950 points. Validator A is not self staking commission and does not meet the self delegation requirement.

The total criteria score for validator A is 2475 points. Assuming they are ranked 60 without BitSong delegations and we apply the multiplier they will end up with 2475 * 0.6 = 1485 points

Validator B has an uptime of 99.9%. Validator B was very active in public chats, social media (in regards to BitSong) and created some guides. For this Validator B gained 2000 points. No development was done, no relayers, no full archive nodes and no public rpc/api's have been setup. Validator B does self stake 90% of his commission. Herefor validator B gains an extra 90% * 1000 = 900 points. However the validator currently also does not meet the self delegation requirement.

The total criteria score for validator B is 2900 points. Assuming they are ranked 55 without BitSong delegations and we apply the multiplier they will end up with 2900 * 0.55 = 1595 points.

Validator C has an uptime of 99.9%. Validator C did not participate in the BitSong ecosystem. No development was done, no relayers, no full archive nodes and no public rpc/api's have been setup. Validator C does self stake 50% of his commission. Herefor validator C gains an extra 50% * 1000 = 500 points. Validator C also currently has a 50% self stake percentage and receives an extra 50% * 1000 = 500 points.

The total criteria score for validator C is has 1000 points. Assuming they are ranked 90 without BitSong delegations and we apply the multiplier they will end up with 1000 * 0.9 = 900 points.

Validator D has an uptime of 99.9%. Validator D was active in public BitSong chats and gained 500 points for this. Made a big value to the core development which was worth 2600 points. Also a basic explorer was made for 1500 points. Validator D is running 2 relayers which were rewarded with 1700 points and 1000 points. No full archive node and public rpc/api has been setup. Validator D is self delegating 30% of his commission. Herefor validator D gains an extra 30% * 1000 = 300 points. However the validator currently also does not meet the self delegation requirement.

The total criteria score for validator D is 7600 points. Assuming they are ranked 41 without BitSong delegations and we apply the multiplier they will end up with 7600 * 0.41 = 3116 points.

If these were the only validators eligible for the BitSong delegation the total points of all validator add up to 1485 + 1595 + 900 + 3116 = 7096 points representing the full BitSong delegation. No matter how big or small the BitSong delegation is the validators will receive the following portion of it:

How to join

Submit an issue in this repository using the Application template.

Epoch distribution

• Every 3 months BitSong delegation is evaluated.

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