As the Findora network and ecosystem continues to mature, the Findora Foundation’s grant program is also evolving to support the organic growth of the Findora network through proof-of-stake (PoS) validators.
This post outlines a proposal for the Findora Foundation Frontier staking incentive program as well as the Foundation’s vision for the longer term structure of this program.
Findora is a completely permissionless blockchain network. Anyone can operate a validator without permission or authorization from anyone.
Overview of Findora Frontier Program
With the release of PoS on Findora Anvil Testnet, the Findora Foundation has also announced the Findora Frontier staking incentive program.
The initial phase of the Findora Frontier program will begin 07/15/21 and take place on Anvil Testnet, with awards of $500 to validators for completing stages 1 and 2.
Stage 1 – Adversarial Testing
The first stage on Anvil will be adversarial, lasting 3-4 weeks, with bounties awarded to developers who can uncover issues related to the Tendermint PoS consensus implementation. We fully expect some organized chaos during this stage.
Stage 2 – Network Stability
The second stage on Anvil will focus on network stability, lasting 3-4 weeks, with bounties awarded to the validators that achieve the top 10 highest participation rate as measured by server uptime, percentage of blocks signed, and proposed blocks. We expect the storm to calm down a bit during this stage.
After successful completion of stages one and two, a third stage will begin, with rewards extended at a rate of $500 per month to validators for an unbounded term.
Stage 3 – Network Reliability
The third stage on Anvil will focus on network reliability, and performance, over an unbounded term (likely 1 year or more), with bounties awarded to developers that discover significant network optimizations.
THE FINDORA FRONTIER PROGRAM IS NOT BEING OFFERED TO ANYONE IN THE UNITED STATES, THE BALKANS, BELARUS, BURMA, COTE D’IVOIRE, CUBA, DEMOCRATIC REPUBLIC OF CONGO, IRAN, IRAQ, LIBERIA, NORTH KOREA, SUDAN, SYRIA, ZIMBABWE AND OTHER PROHIBITED JURISDICTIONS. ADDITIONAL REQUIREMENTS DESCRIBED HEREIN WILL ALSO APPLY. ALL PARTICIPANTS WILL BE REQUIRED TO PROVE THEIR ELIGIBILITY IN ORDER TO PARTICIPATE AND RECEIVE REWARDS UNDER THE PROGRAM.
If eligible, a participant’s FRA token rewards will be delivered into a 1-year locked stake account. The number of FRA earned per stage will be determined by the spot price of USD/FRA on the last day of each stage.
Interested validator operators can apply here for the Findora Frontier staking incentive program on Anvil Testnet.
