Staking Contest: Selecting the Genesis Validator Set for the Lit Protocol Mainnet
The V1 Mainnet launch will commence with a distributed key generation (DKG) process initiated by the top 10 node operators by total stake weight (see sections below) which has been determined through a competitive staking and delegation contest. Stake weight is calculated as a combination of the number of tokens as node operator self-stakes and has delegated to them, as well as a timelock mechanism which is covered in detail in the $LITKEY token white paper. The staking contest was conducted in three phases:1. Whitelist Open
The whitelist for the staking contest was opened on the Lit Protocol staking portal. This is where node operators registered for the contest and where token holders were able to delegate stake during the contest. For a comprehensive list of requirements, please reference the node ops documentation.2. Contest Begins
The staking competition will officially begin after the Lit Protocol TGE. Prospective node operators will be able to build their total stake-weight through multiple channels:- Purchasing tokens on supported exchanges
- Claiming and staking airdrop rewards (if applicable)
- Securing delegated stake from $LITKEY token holders
- Delegate tokens to support preferred node operators
- Contribute to decentralization by spreading delegation across multiple operators
- Earn staking rewards while contributing to cryptoeconomic security