Sydney Validator Program

General Terms

The GGX chain's Sydney validator program is a campaign designed to unite high-quality validators, developers, ambassadors, and other active members for participation in the Sydney Testnet. This testnet operates as a Proof-of-Stake network built on the GGX chain blockchain.

The GGX chain team retains privileged access to the network, granting them the exclusive authority to upgrade and configure the network. This design choice was made to ensure a failover mechanism in emergencies. As the network matures, we intend to revoke this privileged access. Any exercise of this access by the GGX chain team will be transparent and evident to all network participants. The GGX chain team is only incentivized to use this access in emergency situations.

Rules

• Node operators must generate keys and store them securely. There may be instances when the GGX team requests proof of your node's identity, so it's essential to maintain a backup of these keys.
• Anyone can run a Node on Sydney. However, to become a validator, participants must receive testnet GGXT tokens from the GGX chain team.
• To become a validator, participants must fill out a form. The GGX team solely determines who can become a validator.
• Each participant, whether an individual or a team, can operate only one validator node on the Sydney testnet.
• To become a validator, a bond of 1000 GGXT tokens is required.
• Nodes must have both the Prometheus port and RPC open, and use other flags described in the node setup documentation.

The Sydney Testnet incorporates democratic routines. Any validator can propose network upgrades or changes to tokenomics parameters. All validators with a minimum stake of 1000 GGXT tokens can vote on these proposals. Proposals are accepted or rejected based on a simple majority rule.