Hey Solana users & validators, I would like to suggest a possible solution for a validator & staker growth.
As of today, the most common way to lure new stakers by validators is to offer lower and lower fees, such causes are harming the ecosystem for a few reasons.
- those “low fee” stakers will leave for the next “best” APY validator ASAP(probably)
- the validator don’t earn a reward for his work
- harming other validators to succeed
- create a “bad environment” for Growth(nakamoto coefficient, new user’s education, etc )
The objective: create a layer of uniqueness for a validator without “leaving” the regular stake mechanism.
The goal: enable validators to offer “incentives” to stakers(off-chain/on-chain rewards(content access/NFT/anything?)).
The problem: so at the moment, when a validator wants to incentivize his stakers(rather than 0% fee) he lucks of confidence since he doesn’t have any security to “gift” anything because the staker can leave at any time(or right after been incentivize)
possible solution: As of today, we have a few native tools we can use to create a “secure” environment for this issue. The tools are coming in a formation of code- we can use locking & authorization utilities to execute the solution
steps to the solution:
- limit the stake authority to unreachable public key - this way a validator can incentivize their stakers without the risk of losing them once they get the incentive.
- set lockup time so a staker cannot withdraw his stake account
- leave withdraw authority as-is
I would like to hear your opinion as stakers/validators of the network, how would you feel about the such solution?
Background on me: I am a solana validator for 2 yrs (https://avaulto.com/) and a developer with 10yrs exp
An app I tried to implement the idea: