Hello everyone! Just your friendly AlgoRhythm here with the start of many updates on Vault Staking's road to the Matic Mainnet validator status. Vault Staking has been around for over a year now, exploring multiple different PoS tokens and looking for the best one to support through becoming a node on the network. We currently support a Chainlink oracle that we are moving to the Matic Network, along with supporting IDEX as a Trade History node (currently the only level). We've learned a lot from operating these nodes: research the level of effort it will take to maintain a node and be a part of the token's community, it's incredibly important to be transparent to your customers/delegators, and always invest in reliable servers and keep them up-to-date.
Do Your Research/Be a Part of the Community
With the rise of Ethereum's gas prices during the DeFi summer, we all were ready for any means to get around paying gas for transactions. That's how Matic got our attention. IDEX is working to build its own layer 2 platform, so we have been looking forward to working with a layer 2 solution on top of Ethereum. Matic has the right balance of staking, community, reliability, and block creation speed. Matic also has insane staking rewards! At this moment, staking rewards are above 28% returns per year. With this type of return, we knew we could adequately maintain our servers with our staking rewards while charging as small of a commission as possible. We are also extremely active on the Matic Discord channel. Stop by and say hi sometime!
Transparency
Speaking of commission, transparency and outreach are important to the Vault Staking team. In the next day or so, all community delegators will be open for delegation instead of the foundation nodes and you will see varying levels of commission percentages. No matter who you chose to delegate with, be sure they support the community and not just there to make a quick dollar. Some commissions will start low, maybe only 1-2% in order to entice you to delegate to that validator. Such a low percentage is not maintainable and they will have to quickly increase their commission to cover overhead and server costs. Validators with 0% commission have not updated their preferences yet, so you can either expect them to not be part of the community, or that they will bring their commission up quickly. Some commissions will start high since they have stakeholders to appease and are in it for the money in their pockets, not yours. Vault Staking's validator will start at 10% commission, enough to provide you with the stability our delegators deserve, while doing our best to make sure our delegators keep the rewards they're entitled to. For transparency, we will not increase our commission before February 1 and after that we will publish our new rate at least a week in advance. We plan on posting weekly here at Publish0x with our status, updates, and any news from the past week.
Uptime is Important
If you're still not convinced why to delegate to Vault Staking, let's take a look at our infrastructure. Vault Staking's Matic validator is hosted on redundant Amazon Web Services servers, providing maximum uptime and zero-downtime updates. Out of 73 validators, our validator is only 1 of 9 that has 100% uptime, and . If a validator misses a block creation due to being down, it does not receive rewards for that block which means you don't get your rewards. Of the 9 validators with 100% uptime, only 1 has stood longer than ours; we've been active on the Matic network since October 7, 2020, and were the 37th active community validator on the network. We are also investing in our validator with our own money; we're the 22nd highest self-staker to date and plan on consistently increasing our stake month by month.
Go Delegate!
So, go buy some Matic and head over to our staking page, and click the "Delegate Now" button. Then, let us know how we can help you with your Matic needs. Please post any questions, comments, or suggestions in the comment section, or you can always reach out at the Matic discord channel. Thanks for reading!
