IoTeX is a decentralized network where Delegates are responsible for running nodes, mining new blocks, and participating in consensus and network governance. Anyone can become a Delegate by meeting the minimum requirements and earning votes from IoTeX token-holders.
What is a Delegate?
IoTeX is a decentralized and permissionless network with a digital democracy where token-holders stake IOTX and vote for Delegates to maintain/grow the network.
The IoTeX Network utilizes Roll-DPoS consensus, where community-voted Delegates manage consensus on behalf of the entire network. 24 of the top 36 community-voted Delegates are randomly selected to mine blocks every hour.
The top 36 voted Delegates are called Consensus Delegates, that manage transaction verification and block production on behalf of the IoTeX Network. For their services, Delegates are rewarded in IOTX tokens, which they may share with their voters.
There are currently over 100 Delegates in the IoTeX network. You can see the current list of elected IoTeX delegates on stake.iotex.io.
Any token-holder that stakes IOTX can vote for one or more Delegates. By staking/voting, token-holders not only enhance the overall security of the IoTeX Network, but also earn up to 10% annualized interest on their staked IOTX.
IoTeX is a decentralized network, this means anyone may register to become a Delegate at any time. However, all Delegates must meet some minimum requirements. They are summarized below and will be addressed in detail in the next sections.
Every Delegate must have its identity registered on the IoTeX blockchain, in the form of a blockchain account. This identity is called the Profile Account of the Delegate.
Technical requirements are not mandatory, but it's highly recommended that your infrastructure meets at least the minimum requirement as listed in the Operational Costs section.
Once the Delegate is eligible, the profile account must receive at least 2,000,000 total votes.
To become eligible, the Delegate profile account must self-stake at least 1,200,000 IOTX.
Benefits and Rewards
IoTeX Delegates enjoy exclusive benefits, including: Ability to make proposals on gov.iotex.io and join Delegate-only votes Early access to new IoTeX features, tools, and Dapps Every 1 epoch (i.e. 1 hour), the top 100 Delegates split an epoch bonus reward proportional to the % of total votes Consensus Delegates are elgible for bonus rewards: Earn a fixed reward of 8 IOTX per mined block (1 block every 5 sec) The top 36 voted Consensus Delegates earn an extra bonus of 80 IOTX per epoch from the IoTeX Foundation
You can use the IoTeX Delegates Rewards Calculator provided by our delegates to estimate your annual profits. These estimates are based on assumptions, and the actual amount of rewards will depend on the real votes distribution of the IoTeX Blockchain. As a Delegate, you may choose to share Delegate rewards with your voters. IoTeX provides HERMES, a rewards auto-distribution service, that takes care of automatically distributing rewards to your voters based on your rewards policy. Delegates who do not use HERMES will be responsible for distributing awards based on their own policy. Check out the HERMES user guide for more info.
IoTeX Delegate Rewards Pool
Fixed Reward for
every mined block
8 IOTX per block
240 IOTX per epoch
Extra Bonus from
80 IOTX per epoch for
top 36 Delegates
18,750IOTX per epoch
split by top 100 Delegates
Consensus Delegates selected to mine
Top 36 Delegates
By clicking on the links below you can learn more about how to set yourself up as a delegate!