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 algorithm and reaching consensus within the network.

The parties running these infrastructure pieces 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, and the validators themselves, 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 is caught acting maliciously, its delegated token stake will be slashed (see "Dispute Resolution" for more information).

There will be a random component to each of the strategies we use. Our first strategy will be a variant of the infinite Avellaneda-Stoikov algorithm (see more here: Building Orderbooks), where instead of (T - t) linearly progressing to 0, we'll approach 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