With the ongoing Bifrost 2.0 upgrade, we are gradually migrating Bifrost’s operations to Bifrost-Polkadot network. To further decentralize the Bifrost-Polkadot chain’s operations and block production, we are launching the Bifrost-Polkadot Collator system. Following this, the Bifrost-Kusama network will cease generating rewards for Collators, and Collators need to migrate to Bifrost-Polkadot.
What is a Collator
A Collator is essentially a block producer within a parachain. Collators are responsible for executing blocks and broadcasting them to the relay chain for verification, playing a role similar to that of Sequencers on Ethereum Layer2 networks.
The Collator system on Bifrost-Polkadot operates in cycles of 600 blocks per round, with each round taking approximately 2 hours. Rewards are settled at the end of each round, and any staking or unstaking behavior takes effect based on the round.
Anyone can run a Collator by staking a minimum of 5,000 BNC, but only those with the highest total staking volume (personal stake + delegated stake) are eligible to be selected as a block producer. These top Collators are referred to as the “Active Set”, while the remaining Collators are called “Candidates”.
Currently all the 32 Collators spots are filled in the active set, with 3 as candidates.
At the launch of the Bifrost-Polkadot Collator system, Bifrost will offer 16 Active Set slots. As the network stabilizes, this number will gradually increase to a maximum of 32. Detailed parameters of the Collator system are as follows:
Running a Collator node involves some technical operations, so we encourage participants with a technical background to get involved. We provide a Collator operation guide and a Discord channel for Collators to discuss technical issues.
In theory, you can delegate BNC to up to 350 Collators, but avoid delegating to "saturated" Collators. Only the first 300 delegators for each active Collator are eligible for rewards. Here are the detailed parameters for Delegators:
Once the Collator system on Bifrost-Polkadot goes live, users must switch their wallet connection to Bifrost-Polkadot on the Bifrost Dapp to regain access to BNC staking.
Reward Distribution
BNC does not use an inflation model and Collator rewards are pre-allocated. According to Bifrost Tokenomics, 5% of the total token supply is allocated for Collators. There are 800,000 BNC rewards in the first years with 10% to Collators and 90% to Delegators.
Collator commission depends on block production and Delegator staking allocation, while Delegator rewards are calculated based on the Collator’s block production performance and the amount of staked BNC. For detailed reward calculations, refer to the Bifrost Docs.
Bifrost-Polkadot Collator FAQ
How to choose a Collator?
Delegators can select a Collator based on node configuration, the total BNC staked amount, and node stability. You can also mint BNC into vBNC and let the SLP protocol manage the delegation.
What is the maximum number of Collators?
There is no limit for the Candidate set; anyone who meets the hardware requirement and minimum staked amount can register as a Collator. However, the number of Active Set with block production rights is limited. Initially, it is set to 16, which will gradually increase to 32 as the network stabilizes.
What are the minimum requirements to become a Collator?
First, you need to meet the hardware requirements. Additionally, you must register the session key for your node and stake a minimum of 5,000 BNC to join the Candidate set. Only Collators with the highest staked amount can join the Active Set. The initial number for the Active Set is set at 16, expanding to 32 gradually.
How Can I check BNC staking rewards?
Log in to the Bifrost Collator page, and you can view daily staking rewards in the top-right corner and check each round’s BNC rewards under “Recent Staking Rewards”.