We now officially have a slashing insurance for all the chains that we support.
Each concerned wallet is funded with an amount of tokens corresponding to the number that would be slashed in case of a downtime (our voting power * the slash fraction of the chain), + a buffer to account for the variations that can occur.
Every day, the required value is recalculated and an alert is sent in case the collateralized amount falls below a threshold, so that we can add funds as required.
In the event of a slash, each wallet of our delegators would automatically be refunded with the tokens that were lost — and this includes the foundations’ wallets.
Obviously, the concerned insurance wallet would also immediately be refilled.
A bonus will be applied to the IBEX Loyalty Program participants – details at the bottom.
Here is the list of the wallets containing this monetary reserve:
Cosmos
Injective
Aura Network
Band Protocol
Desmos
Fetch.ai
Iris Network
MediBloc
Migaloo
Persistence
Secret Network
Teritori
Terra
UX (Umee)
Andromeda
Provenance and Shentu are not concerned as there is currently no downtime slash; however should that change we will immediately add them to the list. In addition, each new chain that we start validating will be included in this insurance mechanism from the start.
And remember, our the IBEX Loyalty Program, which allows you to earn extra $ATOM by staking with us — register at https://app.highstakes.ch and benefit from the best APR in the ecosystem!
