It is essential for users to stake their PoS tokens with a dependable and highly performant validator, which is why we have rolled out our Verified Provider Program in June 2022. Through this program, we thoroughly scrutinize potential validators, evaluating factors such as security measures, contributions to the ecosystem, and the qualifications of the team behind them.
You can find more information about the providers that have been verified in VPP Batch 1 and Batch 2. Validators that are part of the VPP will have a blue checkmark displayed next to their names on our website. When choosing a validator to delegate to, there are numerous factors to take into account:
Commission Rates: When staking your tokens with a validator, the commission rate represents the percentage of your rewards that the validator will retain for themselves. Super Rrepresentatives can set their commission rates as high as 20%. A high commission rate can result in lower returns for you, while a low commission rate may lead to financial difficulties for the validator in the future. It’s important to note that validators may change their commission rates at any time.
Number of Users: A large number of delegators may signal a positive reputation for a validator.
Validators Self-Staked balance: Validators with significant amounts of self-staked tokens may have a greater motivation to maintain their operations, as they have more at risk than those with lower self-staked balances. However, it’s important to keep in mind that this metric has some limitations, as validators can choose to delegate their own tokens to another validator, which is done to enhance the security of their funds.
Current Status: You can see whether the validator is currently active or not by checking the validator list shown on this page. Validators that are active have a green dot under them.
Network Share: When selecting a validator to delegate to, it’s generally advisable to avoid choosing one with the highest or lowest network share. Delegating to the most popular validators can increase the risk of centralization within the network as they will have more influence in governance and a greater share of blocks. On the other hand, choosing a validator with a low network share may be less profitable and increases the risk of them ceasing their operations. Finding the balance and choosing a validator with a moderate network share could be the best approach to keep the balance in decentralization and profitability.
Performance: To ensure the best results, it’s important to select a validator with high uptime performance. You can view a validator’s performance on the Validator Dashboard. Our suggestion is to only choose validators with an uptime performance of 99% or higher and a track record of not being slashed.
Value Add to the Ecosystem: Another way to assess the long-term vision of validators is to check if they offer additional services to their delegators, such as tax reporting tools, explorers, etc. This can be a useful filter when comparing different providers.
