The IRISnet is a public blockchain built using the Cosmos Network SDK.
The main objective of the IRISnet, with its project the IRIShub, is to become an infrastructure layer for end-user applications or services, referred to as iServices, with a strong focus on enabling communications across private and consortium chains, public chains, and even legacy systems via the IBC (Inter Blockchain Communication) protocol.
|Rewards||Distributed every block|
|Slashing||0.5% for downtime and 1% for double signing|
|Unbonding||21 day unbonding period|
|Compounding||New delegation required|
Figment offers peace of mind to its customers and provides the most complete staking experience in the industry
Our Commission rate is 15%.
Active participant in IRISnet community, including governance leadership.
Third-party custody solutions are available through our institutional partners.
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Stake your IRIS tokens in a few clicks by following these steps:
The easiest way to stake IRIS is via Keplr.
In IRIS, both the validator’s self-bond and the token holder’s bond are at risk of slashing.
There are three ways in which a validator can get slashed:
Those conditions are hard-coded and do not vary with network usage.
Figment provides a 100% reward guarantee for missed rewards. You are still subject to potential slashing.
The IRIS token.
The initial total supply of IRIS is 2,000,000,000 and the annual inflation rate for the first year is 4% (can be modified via on-chain governance), representing 80,000,000 IRIS minted in the first year. As on-chain activity is marginal right now, we assume that the totality of rewards are generated via inflation.
There are currently about 556,000,000 IRIS staked across the network representing a staking participation of 27.8%. Let’s assume that a validator has 5% of all voting power, the node has 27,800,000 IRIS and decides to charge a 10% commission fee.
The more tokens are staked across the network, the lesser the
You need to withdraw their rewards from the protocol and then decide to delegate if you wish to compound rewards.
Figment is never in control of the rewards.
In BPoS, token holders can delegate, or bond, their tokens to a validator that is part of the validating set. Earned rewards depend on current network inflation, network fees and the validator’s commission rate.
Rewards managed in-protocol and can be withdrawn at any time by delegators. There is currently no compounding feature, so delegators have to delegate rewards as often as possible to maximize earnings.
You maintain custody of your IRIS at all times.
Your IRIS tokens stay in your wallet and you can change your delegation at any time.
All IRIS token transfers, including rewards, are processed within the IRISnet protocol. Figment never has custody of your tokens or rewards.
There is a 21-day unbonding period to transfer your tokens after staking. During the unbonding period, your IRIS are illiquid and may still be subject to slashing.
Want to learn more about IRISnet? Check out our latest articles
At 0530UTC on March 1st, 2019, IRISNet launched the IRISHub, the first global, permissionless, public Tendermint blockchain.