TL;DR ZetaChain announces 10,000,000 ZETA in validator delegations to grow the Universal Blockchain. Submit an application before November 28th to join the program!

At ZetaChain, our mission is to build a Universal Blockchain with native access to any blockchain, making crypto as accessible, diverse, and connected as the internet. A key part of this effort includes strengthening and scaling an open, decentralized, and community-driven network to secure the ZetaChain blockchain. Today, we are excited to announce 10,000,000 ZETA in delegations for the Validator Delegation Program, which aims to support ecosystem partners helping secure and grow the Universal Blockchain.

Program Objectives

The primary objectives of the Validator Delegation Program include:

• Recognize Active Contributors: Reward validators who actively contribute to the ecosystem through reliable performance, community engagement, and technical expertise.

• Support Decentralization: Encourage growth of a diverse validator community by assisting smaller, independent validators in gaining delegations and earning staking rewards.

• Enhance Network Stability: Promote a balanced distribution of stake across dimensions including validator types, geographies, data centers, service providers, and operational setups.

Program Structure

The Validator Delegation Program will delegate tokens to a select group of active validators who meet specific criteria. The program aims to diversify the network, empower independent validators, and create a level playing field for network participants.

• Validator Cap: Limited to 15 validators to ensure effective management and meaningful delegation amounts. Submitting an application does not guarantee eligibility, and the final decision regarding selection rests at our discretion and KYC/KYB verification.

• KYC/KYB Process: The 15 selected validators must agree to complete the KYC/KYB process.

• Delegation Amounts: Required Criteria: A delegation of 300k ZETA to each validator that meets all of the required criteria.

• Optional Criteria Bonus: For each Optional Criteria a validator meets we delegate an additional 100k ZETA, up to 400 ZETA total. There is a maximum of 5.5M ZETA available for optional criteria.

• Delegation Duration: Delegations will be granted for a set period and are subject to review.

• Review Cycle: After 3 months, we'll review validator performance to assess compliance with the program's criteria and make necessary adjustments. If a validator no longer meets the established criteria, they will be removed from the program and are able to reapply in the subsequent cycle.

Note, in the ZetaChain-Google Cloud press release, ZetaChain announced it will delegate 1,000,000 ZETA token across five validators operating on Google Cloud infrastructure. This is an additional allocation and separate from the Validator Delegation Program.

Program Schedule

• Application Deadline: November 28th, 2024 (2 week window)

• Notification of Approval via Telegram: November 25 - December 2nd, 2024

• KYC/KYB Process: November 18 - December 6th, 2024

• Full Delegation: December 13th, 2024

• Review Time / Close of the First Program: March 14th, 2025 (3 months after Delegations)

Eligibility Criteria

To ensure fairness and maintain high standards within the network, validators must meet specific eligibility criteria to qualify for the delegation program. These criteria are designed to promote reliability, security, and active participation among validators. The following tables outline the requirements that validators must fulfill.

Required Criteria

Optional Criteria (Public Goods)

About ZetaChain

ZetaChain is the first Universal Blockchain with native access to Bitcoin, Ethereum, Solana, and more, offering seamless user experience and unified liquidity to the next billions of users. With its Universal EVM, ZetaChain empowers developers to build Universal Apps that operate natively across any blockchain, creating a fluid crypto ecosystem from a single platform.

Follow ZetaChain on Twitter @zetablockchain and join the conversation on Discord and Telegram. Reach out to [email protected] if you’re building on top of ZetaChain.

Any projects mentioned are 3rd party, not ZetaChain.