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Formation delegation minimum rises to 20,000 XNT on 27 Oct

Nick Pettas later set the date and the number: from Tuesday 27 October, the current P85 rounded down to 20,000 XNT of self-stake. Ripper Pool uses its own P85 for its own delegation.

X1 Labs · X1 Labs ·

What to do

Hold at least 20,000 XNT of self-stake by 27 Oct to keep Foundation delegation.

From Tuesday 27 October, a validator needs at least 20,000 XNT of its own stake to keep receiving X1 Foundation delegation. The bar is set at the current 85th percentile of self-stake, rounded down. Today it is 5,000 XNT.

What it is

The Foundation delegation program spreads Foundation XNT across validators that meet its criteria. Self-stake, the XNT an operator stakes to their own node, is one of them. It is the operator's own money at risk, so the program uses it as a sign of commitment. Raising the minimum is how the program keeps delegation flowing to committed operators rather than to nodes that stake the minimum and nothing more.

What the numbers say

We read the delegation program's public API on 21 October:

  • 488 validators are listed and 485 currently qualify. Together they hold about 302 million XNT of Foundation delegation.
  • Median self-stake is about 10,000 XNT. The 85th percentile is about 22,400 XNT, which is where the 20,000 figure comes from.
  • Only 112 validators have 20,000 XNT or more of self-stake today. 373 qualifying validators are below it, and they hold about 226 million XNT of the delegation between them.

Unless operators add stake, that delegation will move to a much smaller group.

Why it can be good for X1

Delegation that follows operators with real skin in the game makes the network harder to attack and rewards those who back their own nodes. It also gives XNT a clear use: operators who want delegation have to stake more of it.

The trade-off

A high bar concentrates Foundation stake in fewer hands, which works against decentralization, at least until smaller operators catch up. Watch how many validators clear 20,000 XNT in the weeks after the change. Ripper Pool runs its own delegation with its own percentile rule, so it is a second source of stake for validators below the Foundation bar.

What to do

  • Check your self-stake and status on https://delegation.x1.xyz.
  • If you are below 20,000 XNT, add self-stake before 27 October or plan for losing Foundation delegation.
  • Delegators: stake you have delegated to a validator directly is not affected.

Sources