Name of node provider: LEGEND (Polkadot)
Brief Description on node provider: Node Runner FZCO is a stake-as-a-service company based in Dubai, UAE. It operates multiple validators under the “LEGEND” brand, focused on DOTSAMA ecosystem, such as Polkadot (1kv program), Kusama (1kv program), Moonbeam & Moonriver.
Number of nodes that want to join the Validator Boost List: 1
The address of the node that wants to join the Validator Boost List and which network: 14zfiH2sMH955cG2yKUQbHSP3oQ8W4Ai9p9wSSZunvQ4TU4k
Liquidity Contribution by VBL Applicant :
The company validator is self funded and fully supported by the community.
We have a potential of minting up to 240k vDOT in total (including the 24,500 that have already minted so far). We may mint more vDOT in the following scenarios:
When our current vDOT-DOT is getting out of range, meaning the entire vDOT is fully converted to DOT (due to impermanent loss). In that case we’ll re-supply liquidity by minting new vDOT.
We currently provide liquidity on Moonwell app using part of our DOT in order to borrow USDC/USDt. Once it’ll be possible to use vDOT as a collateral on Moonwell, we’ll exchange our collateral from DOT to vDOT by minting vDOT.
Once the VBL proposal is accepted, we’ll immediately add another vDOT-DOT liquidity of about 16,500 vDOT-DOT (in total).
Once the VBL proposal is accepted, our validator fees will be decreased from 5% to 3%.
Besides that, we hold another 1.4m GLMR tokens that we’ll consider minting into vGLMR as well in the future.
We run a small telegram group for delegators' questions and weekly updates regarding the nodes we’re operating. We’ll start sharing all necessary information regarding Liquid Staking via Bifrost whether our VBL proposal passes or not.
I think its great to see more diversification as well as interest in the VBL track especially those who are focused in the DOTSAMA ecosystem, are part of the 1KV program and have interacted and used Bifrost. Furthermore, I do think the liquidity provision from the applicant is particularly important and it would be great to see more liquidity provisioning from this applicant if this application passes.
I am in support of this and lets assess its value add if it passes and during its VBL lifecycle.
We at Iceberg Nodes know quite well LEGEND thanks to his great Job inside DotSama Eco.
Hi is more than recommendable, we're really happy to see this candidacy post.
We're supporting Bifrost since time and we're proud of such partnership.
A new entry like LEGEND can really improve significantly the contribution to Liquid Staking growth inside our ECO.
To make a long story short:
We strongly support this Candidacy!!!
Considering that the highest commission among vDOT’s current validator delegates is only 1%, the 3% in the proposal is still a bit high. If the commission can be appropriately lowered(eg. 2%), the proposal can be passed more easily.