With approximately 9.6 million FLIP staked and almost 1700 holders (14 institutional), StakedFLIP has gone very well to date. The support from both retail and institutional sectors for the Chainflip blockchain has produced significant impacts across the ecosystem. The network has seen growth in all key metrics, including volume, minimum auction bid, social interaction, stability, and security, bolstered by 150 validators. The current minimum auction bid stands at 213,650 FLIP (approximately $1,150,000 per validator staked). In the realm of StakedFLIP, there’s been a sustained interest from the community in embracing the decentralization ethos, with many showing eagerness to serve the holders of StakedFLIP. The first governance votes, which led to the successful onboarding of Chorus One, Pier Two and most recently Staked.US marked a milestone. This marks only the beginning, as the vision for StakedFLIP is to be managed by a global community of operators over time.
Building on the momentum from adding well established larger operators, we have chosen to onboard an independent operator who has been heavily vested and active within the Chainflip community. Welcome our first independent operator, Cumps Consulting (“Cumps”). Cumps has proven himself in the community and as a technical operator. He has maintained infrastructure on Chainflip during testnet and as a backup in the authority set since the TGE. As an independent operator, he has been unable to meet the MAB. His performance along the way has been outstanding and we highly recommend adding Cumps to the stakedFLIP validator set.
Logistics
A reminder that StakedFLIP is the first Liquid Staking Token to offer governance rights to its holders. Should the holders oppose the onboarding of Cumps as a new operator, they have the right to veto the proposal, ensuring no changes are made to the protocol. For more detailed information on the process at a contractual level, please consult the protocol documentation.
Additionally, it is important to note that neither Thunderhead, Cumps, nor any other individual or entity holds custody over stakers’ FLIP. The contracts serve purely as staking middleware, and this onboarding will not affect the protocol’s rewards fee rate.
Action Items
An offchain temperature check vote is currently live. If you are in favor of this onboarding, please vote “for.” If you oppose this onboarding, please vote “against.”
Following the attainment of a rough consensus via the forum, the governance multi-sig will initiate an onchain vote.
Should you have any opinions on this onboarding process, we encourage you to share them here. Questions for Cumps representatives regarding their operations are also welcome.
Snapshot Temperature Check: Snapshot
