The Umee team is very proud to announce the official launch of the Umee Validator Delegation Program! The Umee mainnet went live on February 15th, with an initial group of genesis validators, who performed flawlessly, in the launch of the official Umee Network!
If you are a validator and interested in receiving delegation, please look no further! The Umee validator community will be expanded in the coming months to foster the growth of a committed and active validator ecosystem through our Validator Delegation Program. Umee’s core interests reside in ensuring that voting power and delegations are distributed in a decentralized manner throughout the network. The Umee Validator Delegation Program is being launched to maintain a healthy network and to engage key members of the community for their contributions to the Umee ecosystem!
Foundation Delegation Criteria
Are you a validator and interested in securing delegation from the Umee Foundation? First things first, you will need to fill out and submit the Umee Validator Delegation Program application form.
Validators must first meet the minimum mainnet requirement (running a mainnet node) to be eligible for delegation. Additionally, validators should showcase their involvement in the Umee ecosystem, and how they have, or in the future will contribute in a positive way to the Umee network. The Umee team highly values active community members making key contributions to the Umee ecosystem, and will highly consider such contributions in making delegation selections.
Highly Valued: Umee Ecosystem Contributions
Validators who are committed to adding value through contributions to the Umee ecosystem will be highly considered.
- Active participation in governance
- Technical contributions: building tooling critical to the Umee network, contributing to the Umee SDK, etc.
- Present an in depth look into your validator security/monitoring/alerting systems and infrastructure
- Analytics: block explorers, dashboards, analytics, etc.
- Community and marketing contributions: moderating community, hosting events, running local communities, awareness campaigns (via articles, videos, etc.)
- Business development contributions: sourcing in leads for collaborations, especially around DeFi
- Influencers: Influencers with large communities who can help expand Umee’s reach to their audiences and can also attract delegations (refrain from spam, it will not be considered)
- Embrace, lead by example, and promote the Umee community values
- Any other areas that are beneficial to the Umee ecosystem
After securing delegation, a validator still must maintain compliance with the minimum mainnet criteria (uptime, commission rate) in order to keep their delegation, or risk un-delegation by the Umee Foundation. An exception here is voting power, specifically if a validator’s voting power crosses the threshold of the foundation’s original eligibility criteria after they have received delegation. In this case, they will not be penalized through un-delegation, however, they will be unqualified to participate in further Umee delegation programs if they are over Umee’s voting power threshold at that current time.
If a validator who has secured delegation misbehaves at any time, becomes slashed or jailed, or is not keeping up with the mainnet parameter requirements, Umee Foundation reserves the right to undelegate previously granted stake, or a portion of granted stake at any time. Umee’s evaluation period for validators that are granted delegation will run continuously, and snapshots will be taken on an ongoing basis. Delegation that is taken away for not keeping up with requirements will be added back to the Umee Foundation.
Umee Foundation delegations are not permanent obligations in any manner. Umee reserves the right to undelegate stake at any given time, for any reason it deems without providing an explanation beforehand. All delegation decisions are ultimately at the discretion of the Umee Foundation.