How to Become a Validator
From its inception, Microtick has been a decentralized blockchain; the zone launched with more than two dozen distinct genesis validators. Looking ahead to future growth, the community welcomes new validators who’d like to lend their resources to further bolster the security and decentralization of the zone.
Following the community approval of Microtick’s first governance proposal, the following applies to onboarding the next 20 post-genesis validators.
- New validators who are not ShapeShift employees will be incentivised at the rate of 5,000 TICK.
- ShapeShift employees serving as new validators will receive 1,000 TICK, the number of such validators not to exceed 10 under this proposal.
- New validators will be funded 1 TICK for their initial account creation, and then delegated the appropriate amount (4,999 for non-ShapeShift validators; 999 for ShapeShift validators) .
- After six months, the TICK will be undelegated, and the actual TICK tokens (4,999 for non-ShapeShift validators; 999 for ShapeShift validators) will be sent to the account that was used to create and self-fund the validator initially.
Hardware specs to validate Microtick mirror that of Cosmos Hub; if you know your way around gaiad, you’ll be right at home!
Technical details on setting up a Microtick validator can be found here.
The only requirement is that you first complete ShapeShift’s KYC process. To do that, head to shapeshift.com and download the mobile app. Sign up for an account and go through the ID verification process. Then email email@example.com with the subject line “KYC Verification.” Provide the email that you used to KYC, as well as the microtick address you’d like to have your TICK delegated to.
We’ll follow up with a confirmation and further details.