Staking Contest: Selecting the Genesis Validator Set for the Lit Protocol Mainnet
The V1 Mainnet launch will commence with a distributed key generation (DKG) process initiated by the top 10 node operators by total stake weight (see sections below) to be determined through a competitive staking and delegation contest.Stake weight is calculated as a combination of the number of tokens as node operator self-stakes and has delegated to them, as well as a timelock mechanism which is covered in detail in the $LITKEY token white paper.The staking contest will be conducted in three phases:
The whitelist for the staking contest is now open on the Lit Protocol staking portal. This is where you will register your node for the contest and where token holders will be able to delegate stake to you once the contest begins. For a comprehensive list of requirements, please reference the node ops documentation.
The staking competition will officially begin after the Lit Protocol TGE. Prospective node operators will be able to build their total stake-weight through multiple channels:
Purchasing tokens on supported exchanges
Claiming and staking airdrop rewards (if applicable)
Securing delegated stake from $LITKEY token holders
Token holders not interested in participating as node operators can:
Delegate tokens to support preferred node operators
Contribute to decentralization by spreading delegation across multiple operators
Earn staking rewards while contributing to cryptoeconomic security
3. Contest Ends and Initial Operators are Selected
After the staking competition ends (timing TBA), the top 10 node operators by total stake-weight will be selected as a part of the initial validator set. Prior to being confirmed, all node operators will need to adhere to the requirements and expectations listed in the applicable documentation.
