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Genesis Validator Allocation
Kujira was able to quickly recover from the collapse of Terra by working hard to rebuild and relaunch in just six weeks. This would not have been possible without the support of our dedicated and brave validators who stood by us during the launch of our new blockchain.
As a way of thanking these validators for their efforts, the Kujira team has decided to generously compensate them while also maintaining our commitment to sustainability and integrity. To this end, we have delegated 200,000 KUJI tokens indefinitely to each of our 75 genesis validators who were in the active set at the time of the Kujira mainnet launch, for a total of 15 million KUJI.
These delegations allow our genesis validators to generate extra revenue indefinitely, as long as they continue to support and validate the Kujira chain. For example, a genesis validator with a 5% commission and a KUJI staking APR of 10% would receive approximately 1000 KUJI worth of extra funding annually from this 200,000 KUJI delegation. As the ecosystem grows and the value of KUJI increases, our genesis validators will see even greater rewards for their contributions to the Kujira ecosystem.
It is important to note that, while most of our delegations have not been removed, we reserve the right to do so in extreme cases where a genesis validator fails to uphold their duties or acts in a way that goes against the values and interests of the Kujira community. This is a last resort and would only be used in the most serious of circumstances.
As the Kujira chain matures, we may see new validators join the set. In the future, the Kujira Senate will likely play a more central role in making decisions about delegations and other matters related to validators.