We run a Cosmos validator to help secure the Cosmos Hub and facilitate the internet of blockchains.
About Cosmos Network
The vision behind the Cosmos Network is that of an interoperable, scalable Internet of blockchains. The project’s goal is to enable developers to easily spin up blockchains on a per-application basis.
The Chorus One Cosmos Hub Validator
Our Cosmos Hub validator enables Atom holders to help secure the Cosmos Hub and earn rewards for it. By delegating to our validator, you are accepting our Terms of Service.
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Why is our self-bond low?
We are often asked why our self-bond ratio (the ratio of ATOMs staked by the company, compared to the ATOMs staked by delegators) is low compared to other validators.
Our self-bond is low relative to our peers for two reasons:
- We have made a conscious decision to keep our founders’ private delegations under their own control. Firstly, the lack of send functionality in the first phase of mainnet makes combining these delegations impossible, and secondly, combining private delegations together with company-owned assets leads to both legal and off-chain accounting problems, with regard to both ownership and distribution of rewards. Whilst these problems are not insurmountable, keeping privately-owned and company assets separate corresponds to our vision of transparency.
- When creating a validator, an operator must identify a cosmos wallet that contains the ATOMs they wish use as their security bond. The private key for this wallet is required regularly, in order to sign transactions relating to withdrawals of validator rewards, and to make changes to validator metadata. For Chorus One to keep significant funds in the same wallet, would increase the risk associated with compromise of a single key.
Whilst we appreciate that it may appear our self-bond is low, our skin in the game is real and comprises a large percentage (over 1 million ATOMs) of our the tokens staked with us.