Ronin

Time factors

Protocol timeHuman readable time

Protocol time

Block

3 seconds

First reward delay

1 day

1 day

Reward frequency

At the end of every day

1 day

Unbonding period

7 days

7 days

  • Rewards are distributed every day at 00:00 UTC.

Lifecycle

  • Each day in the protocol begins at 00:00 UTC and ends at 00:00 UTC. New stakers will need to wait for the next day (00:00 UTC) to begin in order for their stake to become active.

Must know before staking

Minimum stake amount

❌

Partial stake changes

✅

Partial reward withdrawal

❌

Compounding

❌

Penalty

✅

Offline

Slashing

✅

Equivocation - 250,000 RON

  • Unstaking condition. Only RON that have been staked longer than 3 days can be unstaked.

Advanced topics

Rewards

  • Rewards come from pre-issued reward pool and transaction fees.

    • Fixed number of tokens allocated as rewards. The protocol follows a distribution schedule shown in the following table.

      YearStaking reward

      1

      30,000,000

      2

      30,000,000

      3

      30,000,000

      4

      28,000,000

      5

      24,000,000

      6

      18,000,000

      7

      14,000,000

      8

      6,000,000

  • Validators get additional rewards for running as bridge operators. The protocol has allocated 1,000,000 RON in year 1 that is shared only amongst validators to compensate for being bridge operators.

  • Factors that impact realized rewards.

    • Validator performance. The protocol enforces various penalties that may lead to a validator and their delegators to lose all rewards earned on a given day. See the Risks sections for more details on how these penalties work.

    • Commissions.

Risks

  • Validator penalty.

    • If a validator misses 100 blocks in a day, the validator and their delegators will not be eligible to earn any rewards for that day. A day is defined as starting from 00:00 UTC to 00:00 UTC of the following day.

    • If a validator misses 500 blocks in a day, the validator and their delegators will not earn any rewards for that day. The validator will lose 1,000 of their own stake and is jailed for 57,600 blocks (2 days). The validator can join the active set after the jailing period ends. Alternatively, the validator can join the active set immediately by using their credit score.

    • If a validator that has been jailed and then bailed out misses 100 blocks on the same day, the validator will lose 1,000 of their own stake and jailed for 57,600 blocks (2 days). The validator will not be able to use their credit score to bail out.

  • Bridge operator penalty. The protocol requires validators to also run as bridge operators.

    • If a bridge operator misses 10% of consensus votes in a day, the operator will not earn any bridge rewards for that day.

    • If a bridge operator misses 30% of consensus votes in a day, the operator will not earn any bridge rewards and staking rewards for that day.

  • Slashing. If a validator signs on two different blocks at the same height, the validator will be slashed and will lose 250,000 RON of their own stake. The validator will also be permanently exited from the active validator set.

Validators

Total validator cap

✅

22

Validator requirements

✅

250,000 RON

  • 12 of the 22 validators are selected through governance. They are called Governing Validators. The remaining 10 are selected by total tokens staked.

  • Validators must also run bridge operators on the protocol. The protocol plans to separate these two roles out in the future.

  • Credit score. Each validator has a credit score tracked by the protocol.

    • A validator earns 50 credits for a full day without missing any blocks. A validator loses 1 credit for every missed block.

    • A validator can have at most 600 credits.

    • A validator needs to use 2 credits to be bailed out of jail and join the active validator set.

Resources

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