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 has asked us. Get in touch if there’s more you would like to know.
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 whitepaper.
New blocks on IRIS Hub are proposed by validators. To enable IRIS Hub to run seamlessly, validators need the technical capabilities to offer a secure, always on infrastructure.
Not everyone is able to do this. Some token holders participate indirectly by delegating the tokens they have to a validator. Validators are running a service for delegators. They typically charge a fee to cover their operational costs.
By delegating IRIS, you help secure the network. You get part of the rewards provided by the protocol for this assistance. 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. As a validator, stakefish will never have the ability to move your IRIS.
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 this slashing risk will always exist.
We charge 8% from the block rewards received by our delegators. For example, if a delegator receives 100 IRIS as a reward, stakefish will receive 8 IRIS while the delegator will get 92 IRIS.
Undelegating (also called unbonding or unstaking) can be done anytime. However, it takes 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