The IRIS Hub (which is at the center of the IRIS Network) is the first regional hub built on Cosmos SDK and Tendermint that will connect to the Cosmos Hub. IRIS Hub plans to facilitate blockchain usage in the business world. We are excited to support the IRIS Hub and all the projects that will connect to it.
Frequently Asked Questions
Here are answers to some of the questions our community members have asked us. Don't hesitate to reach out to us if you still have additional questions.
The IRIS Network is the first regional hub in the Cosmos ecosystem that will connect to the Cosmos Hub. The IRIS Hub launched in March 2019. To learn more, please see their <url>whitepaper</url>.
New blocks on the IRIS Hub are proposed by validators. Validators typically have technical capabilities to put together a secure infrastructure that will be online 24/7 so that the IRIS Hub runs seamlessly.
Not everyone is able to do this, and so they can participate indirectly by delegating the tokens they have to a validator. In a sense, validators are running a service for delegators. Validators would typically charge a fee to cover their operational costs.
Once you delegate IRIS, you are helping secure the network. For assisting in this, you get part of the rewards provided by the protocol. If you are planning to hold on to IRIS for some time, delegating will help you accumulate more IRIS while contributing to the health of the network.
You are not giving away ownership of IRIS by delegating. We will never have the ability to move your IRIS as a validator.
IRIS Network penalizes any validator that misses too many blocks or double signs a block by slashing the staked amount on that validator. We have our own capital on the line, so we are fully incentivized to do our best to prevent such events. However, delegators must be aware that slashing risk will always exist.
We charge 8% on the block rewards received by our delegators. For example, if a delegator receives 100 IRIS as a reward, stake.fish will receive 8 IRIS while the delegator will get 92 IRIS. We offer one of the lowest fees of the strong proven validators.
Un-delegating (or unbonding or unstaking) can be done anytime. However, it will take approximately 3 weeks for your IRIS to undelegate and become transferable.
If you have any questions about staking or our validator services, please do not hesitate to reach out to us. We are happy to talk with anyone and help navigate community members through this exciting new ecosystem.Get in Touch