Original test-net participant.
Genesis block producer and maker of the popular Hubble staking explorer.
Serving the world’s largest IRIS holders + IRISnet foundation.
Figment is a venture funded, registered Canadian company based in Toronto. Canada offers stability, rule of law and clear crypto regulation.
The world’s most advanced physical IDC + multi-cloud staking infrastructure.
100% reward success. Never been slashed or jailed.
You maintain custody and control of your IRIS tokens at all times.
Third-party custody solutions are available through our institutional partners. Contact us for more information.
How many IRISnet tokens do you have?
Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.View Guide
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.
IRISnet was the first mainnet that established the IBC connection with the Cosmos Hub Stargate upgrade. IBC, combined with IRISnet’s enhanced iService can function as the “TCP/IP + HTTP” for the Internet of Blockchains.
One unique advantage of establishing their service infrastructure on top of Cosmos is the potential for iServices to be deployed once and invoked on every chain/zone connected to the IRIS Network and Cosmos, creating a functional decentralized marketplace across the internet of blockchains.
Most use cases brought up by the Foundation focus on exchanging private data and e-commerce between consortium chains and private chains. For example, an insurance consortium and a chain composed solely of hospitals could easily exchange healthcare data privately to establish better measures and pricing for patients.
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.