Original Validator FAQ

1.What is rFIS Original Validator(OV)

In the business structure of rFIS, we will launch the Original Validators (OV) program. The Original Validators are the ones who have joined the FIS Staking Contract plan. Using the FIS token deposited by the user, the StaFi Staking contract will nominate each OV who joins the OV plan according to the nomination rules.

2.OV nomination rules

The rFIS Staking Contract will automatically execute the following nomination strategy:

1) Nominations are executed in every Era(6H).

2)OVs are selected whose commission is set less than or equal to R, which will be set at 10% in the beginning.

3)Sort the nominations of the picked OVs are sorted from low to high, and the first number N OVs to nominate are chosen (number N will set at 10 in the beginning).

Note: Both R and N are governance parameters and will be slightly adjusted according to the market situation and product development

3.Why to ba an OV?

1) You could win more staking commission rewards. Becoming OV in rFIS could give you the chance to win up to 10% commission of the staking rewards from the nominations of rFIS staking contract.

2) No need to pay costs to attract nominations any more. If you want to be the official validators on StaFi mainnet now, you have to pay considerable costs for your validator campaign to attract stalkers' nominations, but now with rFIS solution, you could just follow the above 2 steps to be an OV and win nominations from rFIS staking contract. This will be a great opportunity for the new validators or validators in the waiting list.

4.How to be an OV?

1)Run a validator on StaFi main-net;

Basic configuration:

  • System: Linux or Macos, Ubuntu 18.04 is recommended

  • CPU: at least 2 cores, Intel Core

  • Memory: at least 8G

  • Hard disk: at least 200G, regularly evaluated

Recommended configuration:

  • System: Linux or Macos, Ubuntu18.04

  • CPU: 4 cores, Intel Core

  • Memory: 8G

  • Hard Disk: 500G

Please check the guide.

2)Set an on-chain identity

We encourage OVs to set up the onchain Identity but it‘s not a must-do. And also there will be no strict verification for OV's filled Identity information.

Identity register guide

5.How to operate?

Original Validator Guide

6.What type of account will become an OV account?

Controller account on StaFi mainnet

7.How to ensure that the validator's account is the Controller account?

Import the Controller account into the Polkadot Js extension, click the account in the upper right corner of the figure below to display the currently imported StaFi account, and select the controller account to operate.

8.Is there any requirement of self-bonding for OVs?

No there is no any such requirement of self-bonding to become an OV.

Please note, OV may has to bond 100 FIS to set onchain identity, but it is just for Identity setup.

9.How to deal with the Salsh problem of OV?

Through rFIS, StaFi can help users avoid being Slashed in the following ways:

1) Staking Contract prefer selecting validators who have not been Slashed in history to be official OVs;

2) Staking funds will select N OVs to nominate in each Era. Therefore, even if one Original Validator is Slashed, it will not have a big impact on Staking Rewards.

3) Once some certain OV is slashed, this validator will not be nominated any more.