Edgeware is a Substrate-based, WebAssembly (WASM) smart contract platform in the Polkadot ecosystem, focused on active on-chain governance and treasury management.
Network participants can vote, delegate, and fund each other to improve the networks scalability, governance, developer experience, and more. The evolution of the network depends on its community and stakeholders. It is a testbed for mechanisms like on-chain identity, quadratic voting, and modular governance.
Read our Edgeware Delegation Guide to learn how to securely stake your EDG tokens to Bison Trails’ non-custodial public validators.
Substrate is the modular blockchain framework on which Edgeware is built and the foundation for the whole Polkadot ecosystem. It allows developers to quickly build and launch a blockchain with a variety of feature options available for a wide range of project needs. These options include WebAssembly smart contracts, multi-level permissioning, encrypted transactions and state, account-level locking, and governance tools. Substrate-based protocols can easily interact with Polkadot allowing them to become parachains in the system and share security.
Edgeware uses Nominated Proof of Stake (NPoS) as its consensus method. There is a known and limited number of validators in the active set and this active set number is decided by governance. Inclusion in the active set is determined by your total self-bonded and delegated stake. The minimum stake to get in the active set varies daily and depends upon the number of validators attempting to be included and the amount of stake on each. In a NPoS system, each elected validator has equal say in consensus and receives equal rewards.
Because of this equitable distribution of rewards, it is preferable for a EDG holder to distribute their stake and run multiple validators. Optimizing your participation on Edgeware, or any NPoS network, requires more active management than other PoS networks.
There is no minimum self-bond to run a validator. It is possible to meet the minimum stake necessary to be elected to the active set with almost 100% nominated EDG. The goal is to get in the active set without being significantly higher than the minimum. As such, many validators maintain a low self-bond and delegate to themselves with the majority of their EDG from a separate account. This set up allows them to remain flexible and distribute their stake as the minimum for election to the active set changes.
The initial Edgeware token distribution occurred via a lockdrop: a modified airdrop where participants timelocked ETH to receive EDG. 5,000,000,000 (five billion) EDG tokens were minted initially, divisible up to 18 decimal places.
In the first year, inflation is expected to be just under 20% but because the total amount of EDG minted will remain constant, the inflation rate per year will decrease. In the second year, it is expected to be approximately 16.6%. A system-wide vote may further increase or decrease inflation.
The inflation rate is based on a staking ratio of 80%. If this ratio is met, 100% of inflation goes to validators as rewards. If a greater than or less than percentage is staked, validators receive less rewards and the remainder is given to the on-chain Treasury.
Validators on Edgeware can be slashed if they misbehave. Such misbehavior can come in the form of downtime/unresponsiveness or double-signing. If your EDG are delegated to a validator that gets slashed, you run the risk of losing a percentage of your delegated tokens.
Governance is executed on-chain using several modules:
Any token holder can participate in Edgeware governance by submitting proposals, voting on referenda, and voting for Council members.
Bison Trails is the easiest way to run a validator node on the Edgeware network. Our technology platform provides enterprise-grade security, multi-cloud / multi-region distribution, and a 99% node uptime guarantee.
Because Bison Trails runs validator nodes across all major Substrate-based chains, we can cross-leverage optimizations and security practices and test all software, infrastructure, and protocol upgrades on ourselves before pushing to our customers. This practice ensures we are offering best-in-class blockchain infrastructure and supporting services that ensure our customers continued, active participation in the Edgeware network.
In addition, Bison Trails is entirely non-custodial and never takes possession of a customer’s private keys.
Enterprise-grade, proprietary orchestration technology allows us to dynamically adjust infrastructure, giving you the resources you need to be performant as network participation grows.
Self-healing infrastructure allows us to deliver you maximum uptime, ensuring that you don’t miss out on network rewards.
Our scalable infrastructure has fine-tuned, granular resource provisioning and controls so we only charge you for what you need as the network matures.
Secret management technology that handles storing and securely transporting your participation keys to your nodes.
Advanced metrics, monitoring and alerting gives you real-time insights into your nodes and allows us to quickly identify and resolve issues.
We’re excited to announce that the Bison Trails infrastructure platform supports running validator nodes on Edgeware!