Findora Anvil test network online staking function

The developers of Findora have released a new update that will provide Staking rewards for verified nodes and delegated pledgers.

July 1, 2021 – Following the successful launch of Findora Mainnet Beta 0.1.0 in March 2021, today Discreet Labs, one of the developers behind Findora, a financial public chain with programmable privacy, announced the official release of Findora Testnet (Anvil) Beta, which implements features such as proof-of-stake (PoS) consensus, rewards and penalties without permission.

The v0.2.0 release on Anvil is an upgrade to the previously released Forge Testnet, releasing Proof-of-Stake (PoS) written in Rust language and built on Tendermint Core.

Pledge on Findora
Findora v0.2.0 on Anvil includes support for Staking and delegated pledges, and a major refactoring of existing code.

Validation nodes on Findora contribute to the consensus mechanism, participate in future governance, and ensure the rapid development of the Findora network. As part of the consensus process, validation nodes propose and sign blocks on Findora and will be rewarded with blocks (and in the future, a portion of the network transaction fees) through the consensus algorithm. Verified node operators can set up, operate and manage their servers through a command line interface (CLI) tool.

The Findora network is completely license-free, which means that anyone can operate a Verified Node and contribute to consensus. No special license or authorization from the Findora Foundation, Discreet Labs, or any other party is required to run a Findora Authentication Node.

Findora Anvil test network online staking function

Delegating Pledges on Findora
FRA pass holders can choose to delegate their passes directly to a validation node to support the network’s consensus algorithm, without running the validation node themselves. Delegated pledgers can share in the rewards by paying commissions to the validation node, which can also configure these commission fee rates. Commission pledgers can set up and manage their commissions through the Findora wallet or any other platform that supports Findora commission pledges.

Block Rewards and Penalties
Verified nodes (and their delegated pledgers) earn FRA rewards for each successfully created block. Below is an example curve illustrating the potential FRA outbound block reward annualized yield (APY) that can be earned by a verification node (based on the total pledge rate – the total pledge volume as a percentage of the total circulating supply). For example, if the total pledge rate is 10%, then the Findora network will pay an APY of 53.6% to incentivize more FRA holders to pledge. Once the total pledge rate rises to 67% (the optimal target total pledge rate), then the Findora Network will pay an 8% APR incentive.

As part of the design of the Findora pass-through economy, in addition to verifying nodes being rewarded for good behavior through participation in consensus, the implementation of Findora PoS will also penalize verifying nodes for bad behavior, such as duplicate signatures, and verifying node downtime. This “forfeit” penalty mechanism protects the Findora network from malicious attacks.

Frontier Pledge Incentive Program
With this upgrade, the Findora Foundation officially announces the Findora Frontier Staking Incentive Program, which helps cover a portion of the operating costs of Staking verification nodes by paying out FRA native tokens from the Findora public chain.
The initial phase of the Findora Frontier program will run on Anvil Testnet starting 07/15/21 and will award $500 (in FRA, non-US participants only) to validation nodes that complete Phase 1 and Phase 2.

l Phase 1 – Adversarial Testing
The first phase of Anvil will be an adversarial test, which will last 3-4 weeks, and the Findora Foundation is offering a generous reward to developers who can identify issues related to the Tendermint PoS consensus implementation. Again, we expect some disruption within this phase under normal circumstances.

l Phase 2 – Network Stability Testing
The second phase of Anvil will focus on network stability testing. This phase will last 3-4 weeks and will measure participation based on server uptime, percentage of signed blocks and proposed blocks, with the top 10 verified nodes receiving a generous reward. We expect that the overall PoS mechanism operation will stabilize during this phase.

l Phase 3 – Network Reliability Testing
o The third phase of Anvil will focus on network reliability and operational performance for an unlimited period of time (possibly 1 year or more) and will offer generous rewards to developers who find significant network optimization issues.

Get Involved
If Anvil can get past 6-8 weeks of smooth operation on Findora Testnet Beta v0.2.0 with a sufficient number of quality pledge verification nodes, then Findora Mainnet Beta will then be upgraded to v0.2.0, which will also support features such as Staking and Delegated Pledge.
If you are a validation node operator interested in pledge validation on Findora, then please read the documentation on setting up a validation node via the link below and join the Discord channel for more information.

Posted by:CoinYuppie,Reprinted with attribution to:
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