BeethovenX

Proposal

Increase the self-stake of Beethoven X validator by 100’000 FTM.

Motivation

With the passing of BIP-67, the DAO approved to start a Beethoven X validator for Fantom and to self-stake 100’000 FTM from DAO’s treasury. With the passing of BIP-72, the self-stake amount was increased by another 100’000 FTM. As a reminder, a validator earns additional rewards based on delegated FTM and can only receive 15 times the self-stake amount as delegations. This amount has now been filled and thus no more delegations can currently be added to the Beethoven X validator.

We propose to self-stake another 100’000 FTM from DAO’s treasury, increasing the delegatable amount to a total of 4’500’000 FTM. The new total self-stake amount will be at 300’000 FTM. Everything else set by BIP-67 will still stand in effect, including the plan to migrate the validator to Sonic once the chain is live.

Specification

The BIP will approve additional 100’000 FTM from DAO’s treasury to be added to the self-stake amount of Beethoven X validator (ID 168), which increases the maximum delegatable amount from the current 3’000’000 FTM to 4’500’000 FTM.

Impacts/Risk Assessment

This BIP would approve to increase the self-stake amount to our validator, which has been now running without experiencing issues.

Specification/Execution Plan

We use up to 100’000 FTM from treasury to increase the self-stake of our validator. This may be done in smaller batches.