At its core, Sentinel is a decentralized p2p bandwidth distribution network built on Tendermint and the Cosmos SDK that gives anyone the ability to monetize their bandwidth by devoting it to the Sentinel network.
The amount of bandwidth given and used by network participants is metered and confirmed by Sentinel’s set of validators.
Reward Distribution Period
Every block (~6 seconds)
Validator Self-Bond Requirement
49%, decreasing by 6% every 6 months
Figment Validator Address
Sentinel uses on-chain governance. There is not currently a defined place where governance discussions happen (like a forum, discord private channel, etc.). Governance efforts are not being led by any one particular party. Currently, the only proposals that have been introduced have been from validators or from the team building the network.
What is staking?
On a Proof of Stake blockchain, staking is the act of depositing tokens in order to become a validator; that is, to participate in proposing and attesting to transaction blocks. Anyone with a minimum necessary coin balance can validate transactions and earn staking rewards on these blockchains.
What is the name of the asset being staked?
Sentinel's native token, dVPN, is used to stake.
Where can I explore the network and create a Sentinel wallet?
Sentinel has a desktop wallet that can be downloaded from GitHub. Users will need to enter an authentication password - just enter: admin
Ledger owners can connect to the network through Cosmostation. Sentinel has a webpage set aside specifically for network statistics.
How long does it take to unstake?
It takes 28 days for the tokens to unlock and become available to your wallet.
When are staking rewards and transfers enabled?
Staking rewards and transfers are currently enabled.
How is staking income disbursed? Is staking income liquid or automatically staked?
Rewards are liquid and need to be manually restaked if desired.
Can I lose potential staking rewards?
Your potential rewards depend on validator performance. When your validator is down, you will not be earning staking income.
Can my staked dVPN be slashed (seized or destroyed)?
Yes, a portion of your staked dVPN can be destroyed. There are two ways this can happen:
- 1.If you delegate to a validator that is offline for certain amount of time (9,500/10,000 blocks), you will lose 0.01% of the tokens you have delegated to that validator.
- 2.If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.
Figment insures our clients from slashing and has never had a slashing event.
What is the rate of new issuance (aka "annual inflation") for dVPN? How does the token supply change?
The inflation rate is currently around 49% of the total supply, and is set to decrease by 6% every six months.
What affects future yields?
Sentinel currently has an inflation rate of 49% which is set to decrease by 6% every 6 months. This gradual decrease will slowly lead to smaller yields but also help increase the value of existing tokens.
Do I maintain custody of my dVPN tokens? Who or what controls my staked dVPN tokens?
Figment has partnerships with a number of top-in-class custodians. Please contact [email protected] for more inquiries.
The Sentinel protocol takes control of your dVPN tokens while you’re staking. If you unbond your tokens, this process will take 28 days before the protocol returns your tokens to you.
How are decisions about Sentinel made and executed?
Sentinel uses token voting for on-chain governance. The more tokens someone holds, the more voting power they will have on the network.