Validators

Elixir's validator network is at the core of the network's technical infrastructure.

Validators are a key component of the Elixir stack, responsible for executing the underlying consensus and reaching consensus within the network.

Validators will be delegated Elixir Foundation governance stake via the Elixir Foundation Delegation Program. Top performing validators will participate in governance with their delegated tokens and earn validator emission rewards from their delegated stake.

The parties running this infrastructure are economically aligned with the network. The validator network operates off of a decentralized proof of stake system, meaning that 66% consensus is required to pass data to the relay nodes, which enforce this consensus.

Users can delegate ELX tokens to individual validators, with the top delegated validators participating in consensus (and receiving the largest portion of rewards from the network).

The controller, which is responsible for managing staking, rewards, bond pools, and slashing, calls Provable on-chain and receives an on-chain callback verifying or rejecting the order proposal from the auditor in the case of a dispute. If a validator acts maliciously, its delegated token stake will be slashed (see "Dispute Resolution" for more information).

There will be a random component to the algorithm used to build up orderbook liquidity. Elixir's first strategy is a variant of the infinite Avellaneda-Stoikov algorithm (see more here: Building Orderbooks), where instead of (T - t) linearly progressing to 0, the network approaches it as a random walk. The randomness for this will be generated within an SGX secure enclave with a VRF which can be synchronized across validators. Read more about how the network prevents gamification & builds resiliency here: Preventing Gamification