Overview
Critical to the Covalent Network are the Network Operators. These act as points of presence on the network that fulfill various duties necessary to enable a decentralized blockchain data indexing and querying model. Each operator is compensated in CXT for the work performed.
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Any Network Operator may function in one or all of the live network roles. The roles have very different operational requirements, however, so it is expected that Network Operators will self-select into the subset of roles that best suit their capabilities.
The roles are:
- Block Specimen Producer (BSP)
- Block Results Producer (BRP)
- EWM Light Client
- Query Node Operator (QNO)
- Delegator
Currently, whitelisted operators are operating as Block Specimen Producers and Block Results Producers. As the network is developed, this whitelist will expand and over time, extinguished. As further roles are developed and the Covalent Network scales, operators will be able to expand into other roles.
Staking is also live. CXT holders who don’t wish to run a node on the Covalent Network can delegate their tokens to Network Operators.
Operator expectations
- Reliable connection to the Covalent Network (low latency, high uptime)
- Robust security practices and network architecture
- Meet the staking parameters
- Running latest Covalent Network Node software releases
- Participation in governance (when applicable)
Staking parameters
- The minimum staking amount for a Block Specimen Producer is 175,000 CXT and 35,000 CXT for a Block Results Producer.
- There is an unbonding period of 180 days for operators. During this period, rewards cease to be added to the principal amount staked.
- The fees which delegates pay to operators can be changed by the owner and has a minimum of 2%. It can be different for each operator as they ultimately control the fee.
- There is a maximum ratio of delegated CXT to operator self-stake CXT.
- There is a max stake in place for operators to prevent a small number of Network Operators making up the majority staked.
Running as an Operator
Find the hardware and software requirements for each respective operator role below as well as source code and further details.