/w=256,quality=90,fit=scale-down){kind=icon}
It's a new dawn for the Foundation Delegation Campaign! We're embarking on a pivotal transformation, shifting the program from merely supporting operations to actively incentivizing contributions that fuel the growth of Oraichain's future. This evolution arrives as we aim to elevate our ambitions, seeking to draw in more integrations and broaden the horizons of Oraichain's developer community. Join us as we explore the revamped Oraichain FDC 2024.
The Foundation Delegation Campaign (FDC) emerged as a community-driven initiative to foster decentralization within the Oraichain ecosystem. Since its inception, the active validator set has seen impressive growth, expanding by over 60%. This growth was significantly bolstered by the foundation's dedication, which allocated a substantial portion of its resources to support the program. As Oraichain's ecosystem transitions into a new phase of expansion, there's a pressing need to rejuvenate the FDC, tailoring it to the evolving requirements of the ecosystem and enhancing its alignment with current needs.
Next Steps for the Oraichain FDC 2024
Looking ahead to Oraichain FDC 2024, the initiative is set to evolve beyond its foundational elements, placing a greater emphasis on validators who actively contribute to the ecosystem's growth. Contributions can manifest in various forms, including community engagement, documentation improvements, and infrastructure development. The program will introduce three competitive tiers, encouraging validators to consistently participate and contribute to the ecosystem's vitality. All applicants must submit their application here for consideration. Submissions are open starting today 3/1/2024 and we will re-evaluate every 30 days based on the criteria below. All monthly FDC delegations will be published publicly.
- Tier 1: Legends
- Total Allocation: 1M ORAI
- Number of Validators: 5, receiving 200k ORAI each
- Requirements include operating RPC under a domain with an SLA of under 30 minutes downtime per month (excluding mainnet network incidents) and achieving the top 5 positions sorted by self-bond.
- Tier 2: Heroes
- Total Allocation: 1M ORAI
- Number of Validators: 20, receiving 50K ORAI each
- Validators must have a self-bond greater than 1500 ORAI, setup auto-compounding via restake.app/oraichain, enable state sync, and be among the top 20 sorted by self-bond.
- Tier 3: Community Activists
- Total Allocation: 500K ORAI
- Number of Validators: 10-20, with allocations ranging from 10K to 100K ORAI
- Selection is based on reputation and contributions to the ecosystem, such as:
- Consistent social support
- Articles, tutorials and media about Oraichain
- Organizing community engagement activities
- This section will be gamified and Validators will need to submit proof via Google Form for all contributions: https://forms.gle/EcSoEGKP7yzwhuRW6
Engagement and Allocation Policies
To ensure a balanced and effective distribution of delegated ORAI, several policies will be implemented:
- The FDC allocation to a single node will not exceed 90% of its total delegated ORAI.
- Node uptime: 99%
- Validators are must participate in all governance actions, providing comment during the discussion period and voting. This is absolutely mandatory.
- Validators are expected to actively engage with and amplify the ecosystem's communications. This includes via socials and in official channels.
- Any validator that exceeds more than 5% voting power will be ineligible for this program.
- Commission does not exceed 7%
- Delegations will be regularly re-evaluated and announced publicly.
Re-investing in our Validator Community
Our commitment to Oraichain’s Validator community goes beyond the financial incentive. Just as we look to our validators for amplification, we plan to take an active role in highlighting individual validators, helping to attract new delegators to each of their nodes. To execute this in an equitable fashion, we kindly ask all validators that are interested in this marketing support provide our team with their Media Kit, background information and some key details for promotion.
By highlighting the work of our validators, their outlook on governance proposals and their commitment to Oraichain’s growth, we hope to shine a light on more members of our active set. This will help delegators in their consideration process and hopefully attract more users to bond across many nodes.
Oraichain FDC 2024 will Kickoff March 1st
As promised, we would like to open the floor for comments from validators before kicking off the new program. Our goal is to re-structure and promote active contributions, encouraging eligible validators to earn their delegation, rather than expect it. In the process, we have also planned to scale the Foundation Delegation Program, accepting more network operators and giving everyone a chance to earn for their work.
The revamped Foundation Delegation Campaign signifies a strategic shift towards empowering validators that not only contribute to the network's security but also play a pivotal role in the ecosystem's growth and community engagement. This evolution reflects Oraichain's commitment to nurturing a vibrant, decentralized, and collaborative ecosystem.