We are excited to announce the release of Fetch.ai Wallet 0.16.0, that brings forth an integral feature: in-wallet redelegation support. Now users can easily move staked FET between validators without the hassle of unstaking. This new feature bypasses the 21 day unbonding period. The significance and implementation of redelegation stand at the core of our mission, enabling users to play an active role in reinforcing network security.
Redelegation has emerged as a solution to one of the critical challenges in the world of staking: decentralization. The concentration of staked assets among a few leading validators can lead to centralized power compromising the network's integrity.
Our aim with redelegation has always been clear: we need more than just the top 10 validators controlling a significant portion of the network's voting power. By encouraging the community to redelegate their stakes uniformly across a wider range of validators we're pushing for the dilution of the centralized power. With this release we’re reinforcing our commitment to promote genuine decentralization.
You can now easily see the list of their current stakes directly in the wallet, offering better management and transparency.
You can now redelegate, which means transferring stakes across different validators without the need to unstake and then restake.
Since you don’t need to unstake and restake - you don’t have to go through an extra 21-day unbonding period associated with unstaking! Please note that there is still a redelegation cooldown period of 21 days. This means if you have redelegated from val A to val B - you cannot redelegate from val B to another validator for 21 days.
Decentralization is pivotal for a secure network. It's essential to emphasize that the list of validators isn't ranked by reputation or performance but merely by the amount of FET staked. When users choose a validator they're essentially voting for that validator's trustworthiness, and in return they earn staking rewards. However, it's essential for delegators to be well-informed and active in their role. This isn't merely "passive income"; it's a commitment to the integrity of the Fetch.ai ecosystem.
Hence, this release strengthens our commitment to creating a decentralized ecosystem. We would like to encourage you to learn more about the concept of redelegation and participate actively in the journey. Your role is pivotal, and with tools like in-wallet redelegation, the journey is now even more seamless.
Download the Fetch.ai Wallet 0.16.0 today and experience enhanced staking management at its finest.
