Aurastake Community Update-21Q3

Aurastakers!

In this post, we hope to summarise some of the key milestones in our Aura-adventure so far, and also what our plans are for Aurastake in the coming few months. Hopefully, some of our upcoming plans will excite you as much as they excited us!

Key Milestones

In the past 3 months, we achieved many firsts — Aurastake published 3 articles under our Medium account, and in recognition of our contribution, two of those actually won bounties (big shout out to Terra Bites and Learn Terra!).

Aurastake also climbed to 50th position in voting power on 29th July, our highest ranking in our validator history so far. Once again, a big thank you to the folks behind Terraform Delegation Program (TDP). The criteria for selection are very stringent, and rightfully so, which included keeping commissions under 10%, running a testnet validator and maintaining a respectable threshold uptime, oracle votes and governance participation. Suffice to say, we are glad to have passed the test with flying colours!

All said and done, both the bounties and inclusion in the TDP are validation (pardon the pun) to the efforts that the Aurastake team has put in so far. Importantly, this vote of confidence shall serve as our fuel for the next winter 😎.

Upcoming Plans

The past few months have been a great learning experience for our team, and the validator community that engaged with us in Discord to help answer many of our noob queries as a new validator was really heart-warming to say the least. We were treated not as adversaries, but as partners or collaborators, and this feeling is most refreshing, to say the least. While not unique within the blockchain community, we certainly found the Terra community more fanatical (or some may say, Lunatical) than elsewhere!

We too believe in this community and are currently making plans for our next project. As we have only just begun the process of gathering community feedback, an announcement for our next project will be made once we firm up those plans.

Validator Commission

Finally, now that our validator infrastructure has sufficiently stabilised (*fingers crossed*!), we would like to inform our Aurastakers that the validator commission rates will increase to 1% some time between 23rd August to 1st September, with subsequent increases of 1% for each month of October and November.

We will cap our rates at 3%, which we believe is a fair rate for now that covers our node operating costs, and is also lower than 60% of the validator population in Terra. As we promised our Aurastakers before to provide ample notice on the commission increase, in case some delegators still wish to re-delegate (or god forbid, un-delegate!), you would still able to do by following the steps outlined here.

This is it for our first Community update. Please do reach out to us via any of the available channels — we appreciate any feedback from the community, whether relating to Aurastake or to crypto or blockchain really.

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Dedicated to a Better Web3 Experience

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