The decentralized identity market has seen huge traction due to the use cases it offers. Cheqd, a public permissionless network built with Self-Sovereign identity (SSI) and blockchain technologies, has also made its mark in the identity market.
They provide first-of-its-kind payment rails, decentralized identity, customizable commercial models, and governance structures for Trusted Data.
To maintain the positive momentum and foster even more innovation on the cheqd platform, cheqd is delighted to announce the commencement of its cheqd Foundation Delegation Programme. The main objectives of the program are; Promoting Entropy by Governance Framework, the increasing network's decentralization,
Rewarding Validators who actively build and collaborate with cheqd, and Fostering closer relationships between Validators and the dedicated cheqd Delegator community.
There will be a total of 150M $CHEQ up for grabs. The range of delegation per Validator is expected to be between four million and 40 million CHEQ.
We must note that there are criteria for being eligible for the foundation delegation. The criteria can be found here. The good thing here is that the delegation will be on for one year from the date of the publication of the blog above.
For new Validators, why do you need to validate on the cheqd network?
Outside the fact that you can get a foundation delegation to help you get started, cheqd use cases, and products ( such as creds.xyz, Credential Service) are quite mind-blowing and solve existing challenges. Validating on the network now will allow you to be part of what cheqd is building as an early adopter, and will set you on track for global adoption which I believe will come in no distant time.