Participation on Polkadot and Kusama requires more active management than other proof of stake networks, due to their use of Nominated Proof of Stake (NPoS) for consensus along with network economics.
In a NPoS system, inclusion in the active set is determined by your total self‐bonded and delegated stake. Once included in the active set, each validator has equal voting powers and gets equal rewards. There is a known and limited number of validators who can be in the active set as determined by governance. It’s important to note that the minimum stake to get in the active set varies daily, depending on how many validators are attempting to be included in the active set and the amount of stake in each.
Due to these dynamics validators need to consistently confirm that their stake is sufficient for them to remain in the active set. In addition, validators need to monitor how their stake is being distributed relative to the minimum required stake to be in the active set. Because rewards are distributed evenly to all validators in the active set, it’s favorable for a DOT or KSM holder to distribute their stake and run multiple validators. This need to regularly monitor and manage stake distribution means participation on Polkadot and Kusama requires more active management than other proof of stake networks.
Up until today, that active management has been quite challenging and time consuming as it has been managed manually, or has required reliance and trust in Polkadot and Kusama infrastructure providers. The new Substrate staking dashboard will provide you with the essential insights required to work with the Bison Trails team to drive optimal participation.
For Polkadot and Kusama token holders looking to actively participate and help secure the network, we offer multiple solutions including running validators with an optional managed active controller service.
The new staking dashboard enables you to quickly confirm that your validators are running as expected, and the validator capacity shows how effectively your bond is being utilized. It provides you with easy‐to‐digest information so you can take steps to gain more delegation and ensure your validators make it to the active set—positioning you to earn more participatory rewards.
Design your preferred workflows and manage permissions across your team. Based on your predefined preferences, Bison Trails will automatically scale your position by spinning up a new validator based on real time network economics. Our team will distribute your bond based on the NPoS reward distribution to increase your presence in the active validator set in order to optimize your participatory rewards. Active management of your validators is executed easily through our managed controller feature.
For those who may not want to run their own validators, staking with Polkadot will still require active management. Bison Trails offers a non‐custodial managed controller service that enhances security by keeping your stash account offline. Provide your list of preferred public validators or choose Bison Trails’ public validators. We’ll take care of the rest. You’ll be able to login to the platform to monitor the performance of the validators you are staked to and see which validators have been nominated under the managed controller section.
Our transparent reporting enables you to view how effectively your bond has been used over time. You can look back at the previous eras to verify that your waiting and active validators are being scaled properly, ensuring that your bond is being used as effectively as possible. Gain peace of mind that your validators are operating as expected and reach out to the Bison Trails team if you have any questions regarding performance.
This new experience is the default for all Polkadot and Kusama participation on our platform to ensure that you feel confident about your participation strategy in these ecosystems. If you’re interested in learning more, request a demo with firstname.lastname@example.org
Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 25 new chains effortlessly.
We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.
In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.
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