We are fulfilling our promise, so far we have contributed back all $FX funds from three proposals back to the community as incentives or as liquidity in fx-swap.
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Nice work Baklava team!
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Hey Function X community,
An update from us.
We saw the chain merge proposal and we are waiting for the updates. Baklava Space confirmed our support and we will work with the team for the upcoming upgrade.
In this post, I just want to share our vault stats to you:
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FX delegation vault, TVL: $15,993,323
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Margin X yield farming vault, TVL: $1,699,378. We supported 5 pools from Margin X.
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Purse Token vault, TVL: $906,830
In Q4 2023, we look forward to support more pools from Margin X @orbitant and we will deploy more BAVA rewards to all FX vaults @indra.
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Hi Lords of Baklavans,
F(X)Core, or should I call Pundi AIFX delegate vault is again near 100% capacity.
Thank you! and should we be increasing it?
Hi lord @FrenchXCore, it started as a way to limit tvl during trial period, over time we started opening up 10% or 20% whenever it gets filled up.
the foundation should incentivize baklava’s vault, its the only successful dapp on the ecosystem
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Continuing @JoeB conversation from the MarginX thread:
Currently, the top 10 validators hold 40% of the voting power (VP) on FX, which is unhealthy for both the chain and third-party providers. Consolidating stake on a few validators increases the slashing risk if a validator gets jailed. Although the risk remains even if another validator is jailed, the loss due to slashing is significantly reduced when the stake is more evenly distributed.
It’s important to note that the active set on FX includes only 50 validators, not 100 or more. Consolidation within such a small set poses a greater risk to decentralization and overall network health.
What Baklava can do to promote fairness and engagement is adopt practices seen on other chains and organizations: distribute the voting power more equally, or base it on validator uptime. If a validator is slashed, they would lose Baklava Foundation’s delegation for a specific period (e.g., 6 months to a year). To qualify for re-delegation, the validator must demonstrate strong performance during that time. This approach encourages validators to maintain high standards while preserving network health.
Additionally, validator performance from the past can easily be queried on-chain. We, as validators, along with the staff, can help Baklava track validator performance, ensuring fairness and transparency across the network.
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I agree! with baklava space holding more and more tokens, they should ensure blockchain decentralization and security. As a knee jerk reaction, Baklava team had limited their allocation to top 30 when couple of validators were jailed.
The validator rank isn’t an indicator of how well a node is managed or has performed in the past. Few validators operating in top 30 are novice operators, with limited technical understanding, and some operating on raspberry pies with no sentry nodes or backup internet connection.
We have talked about how the team should do an audit of validators and publish the list or add a badge for public identification of the ones that pass the audit. This never happened due to other priorities. Is this something the Baklava team can take up?
Otherwise, at the bare minimum, talk to the Pundi AI team and find out which validators are repeat offenders. And distribute their allocations to all PUBLIC validators which operate with due diligence.
I emphasize that no/minimum allocation should be given to the company operated validators. This will be a good step towards decentralization. The long term plan for company validators is to retire anyway.
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It’s a good suggestion, i will suggest this to Baklava team.
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