New TrustlessTeam DAO Vote: Validator Node Change Request

Community Announcements
1

TrustlessTeam formally requests to raise the commission rate for our Validator Node at https://tiny.one/trustless-validator

For 2 main reasons:

  • Costs associated with operating our Harmony ONE Validator node
  • Our node will automatically be set to 5% as of February 2023 (1 Year from our node’s registration),

To make this a smooth transition and to ensure our Validator Node remains competitive/elected until February of next year, we are aiming to do this gradually by changing the rate at the end of each upcoming financial quarter.

This would result in the following rate adjustments:
1% - Present Date
2% - June 30th, 2022 ( End of Q2 )
3% - September 31st, 2022 ( End of Q3 )
4% - December 31st, 2022 ( End of Q4 )
5% - ~February 14th, 2023 ( 1 Year of Node Operation )

Note:
Until February next year ( when our Validator is forced to raise it’s rate to 5%), If our node fails to be elected consistently, we will reduce our rate back to 1% to do what we can to ensure that all of our current delegates receive consistent staking rewards.

We’re taking this to a DAO vote which will be linked below as soon it’s live.

If anyone is staking with us please add your feedback below!

If anyone isn’t staking with us, please consider doing so:

Thank you!
-TrustlessTeam, DAO

2

Here is our Snapshot.org DAO Vote for this matter:

https://snapshot.org/#/trustlessteam.eth/proposal/0x4674b46d01bfde475b692fb622a97001382a157228c8bf7a326e1a19052cc99e

If you are a delegate with our Validator node, please vote to support this measure or share your opinion on the subject.

3

For transparency…

It seems we were wrong/misinformed about the window of time a validator has before they can charge less than 5% and shortly after launching this DAO VOTE, our commission was automatically set to 5%.

We’re investigating this further but it’s very likely that our plan is completely cancelled :headstone:

This effectively means that our validator node’s commission will continue to be set at 5%

We have no current plans to raise our rate beyond the 5% position and will keep everyone posted if this changes!

We hope everyone forgives our ignorance,

Thank you!
-TrustlessTeam
https://TrustlessTeam.one