Introducing the Plume Open Delegation Program
The Plume Open Delegation Program will enable community members seeking to run a validator to apply for delegated PLUME tokens from the Plume Foundation to bootstrap their validator operations. The Plume Foundation believes this program is a critical step in its mission towards decentralization and supporting the participation of Plume community members in the network's operations.
The Plume Foundation will be a significant PLUME token holder at Mainnet launch and plans to strategically use these funds to support its mission of creating a decentralized, community-driven network. Before diving into the delegation program details, let's explore what decentralization means for Plume.
Understanding Decentralization in Plume
At Plume, we believe that decentralization is fundamentally about permissionless participation. Plume operates with a Delegated Proof-of-Stake mechanism through which:
- Any validator candidate with sufficient stake can join the validator set if they meet all relevant onboarding requirements
- Any PLUME token holder can influence the network's operations via direct delegation to one or more validators
- Token holders can reallocate their delegations at any time between epochs
Since token holders will always greatly outnumber validators, delegation is the critical component allowing every Plume user to have a voice in who runs the network. Plume validators have voting power proportional to the amount of stake delegated to them and receive staking rewards based on their performance efficiency. This creates a powerful incentive system: validators that operate poorly receive fewer staking rewards per unit of staked PLUME than validators operating optimally, resulting in both reduced rewards and likely future stake reductions as PLUME holders move their delegations to better-performing validators.
Decentralization in Plume works similarly to representative democracy. Rather than requiring every token holder to participate in every network decision (which would be impractical), users delegate voting power to validators aligned with their interests. If a validator stops operating in a way that aligns with a token holder's preferences, they can move their stake to a more aligned validator during the next epoch.
The onchain stake delegation system offers key advantages over traditional governance systems:
- Permissionless validator entry ensures even small parts of the Plume community can be represented
- Transparent operations and continuous validation provide a fluid, responsive system
- The threat of immediate stake recall and re-delegation creates strong accountability
- Long-term network evolution is guided by the super-majority of delegated stake
Foundation Delegated PLUME Stake
The Plume Foundation is committed to ensuring that upfront capital requirements should not be a barrier to running a Plume validator. We need to make the validator pool as diverse and inclusive as possible so Plume users have many good options for delegation. Many community members who are aligned with Plume's vision may not have the capital or resources needed to bootstrap enough stake to begin operating effectively.
To address this challenge, the Plume Foundation is launching the Open Delegation Program that will allow a diverse set of teams to obtain delegated stake and operate on the Plume network. This program aims to correct a market inefficiency by supporting community validators who contribute to network decentralization and operational integrity but might otherwise be unable to participate.
Plume Open Delegation Program Principles
The Plume Foundation will initially stake PLUME tokens across a diverse set of validators, with priority given to:
- Geographic diversity to enhance network resilience
- Technical expertise and operational experience
- Community engagement and contributions
- Commitment to long-term network growth
Over time, the Foundation will conduct regular re-evaluations of its staking decisions and rebalance distributions based on validators' adherence to Plume's staking best practices. These best practices are developed from input from current validators and other community members.
The Foundation will review all staking decisions on a monthly cadence, informed by validator performance data collected throughout previous epochs. We are committed to transparency in our decision-making process and will publish regular updates on delegation criteria and performance metrics.
Applying for the Program
New operators interested in becoming validators will be able to apply for delegation from the Plume Foundation through a simple, transparent application process. The application will evaluate:
- Technical qualifications and operational capabilities
- Hardware and infrastructure specifications
- Security practices and protocols
- Community involvement and contribution history
- Long-term commitment to the Plume ecosystem
The application form can be found here: https://forms.gle/5LadEgYxYb3PzhGg6
The Plume Foundation is committed to decentralization, transparency, and community engagement. The Open Delegation Program represents a critical milestone in this endeavor. Plume is only as strong as its community, and we believe this program is an important step toward a fair, open, and decentralized future.
Full program details will be announced in the future. Stay tuned to our official channels for updates.
*The above details may be subject to change as the Plume Network’s transition to L1 infrastructure progresses*