Delegator FAQ#

What is a delegators?#

Token holders can get votes through the “delegation” command, and select the validators that they think are meaningful to the ecosystem. These token holders are called delegators.

Delegators play a critical role in the system, as they are responsible for choosing validators. Being a delegator is not a passive role: Delegators should actively monitor the actions of their validators and participate in the governance.

Motive for voting#

Voting is the primary way for token holders to participate in the on-chain governance . You want the validators on the network to be very technically competent, because if a new feature appears, the validators will determine the direction of the network, and they will need to quickly and efficiently react.

You have the option to give their votes to their desired validator node(s) for access to dividend rewards on the chain.

On the other hand, there is the community ecosystem aspect. Validators need to work together in case of there are any problems or topics that need to be debated.. They need to be able to work together, cooperate and remain highly transparent at all times.

You will have the ability to choose if you want to become a delegator on the OKTC ecosystem. the future of the network may depend on your votes and those who will manage it.

Incentives#

For more information on incentives, see Staking Rewards Algorithm.

Choosing a validator#

In order to choose their validators, delegators have access to a range of information directly on OKLink or other OKTC block explorers.

• Validator’s moniker: Name of the validator candidate.
• Validator’s description: Description provided by the validator operator.
• Validator’s website: Link to the validator’s website.

Directives of delegators#

Being a delegator is not a passive task. Here are the main directives of a delegator:

• Perform careful due diligence on validators before delegating. If a validator misbehaves, part of their total stake, which includes the stake of their delegators, can be slashed. Delegators should therefore carefully select validators they think will behave correctly.
• Actively monitor their validator after having delegated. Delegators should ensure that the validators they delegate to behave correctly, meaning that they have good uptime, do not double sign or get compromised, and remain active within the governance process. They should also monitor the commission rate that is applied. If a delegator is not satisfied with its validator, they can unbond or switch to another validator (Note: Delegators do not have to wait for the unbonding period to switch validators. Rebonding takes effect immediately).
• Participate in governance. Delegators can and are expected to actively participate in governance. A delegator’s voting power is proportional to the size of their bonded stake. If a delegator does not vote, they will inherit the vote of their validator(s). If they do vote, they override the vote of their validator(s). Delegators therefore act as a counterbalance to their validators.