F. In-Depth Analysis of Staking Economics

1)Validator Revenue Model: Validators’ total revenue comprises multiple sources, forming a robust incentive structure:

Basic Revenue Calculation:

Expected Actual Returns:

Low load period (less than 30% capacity): 8-10% APY

Normal load period (30-70%): 10-15% APY

High load period (more than 70%): 15-25% APY

2)Delegator Protection Mechanism: Protecting delegators’ asset security

Intelligent Risk Tiering:

New validators (less than 30 days): Delegator slashing cap 5%

Mature validators (30-180 days): Slashing cap 10%

Senior validators (over than 180 days): Slashing cap 15%, but enjoy higher commission

Insurance Fund Pool: Extract 1% from validators’ total stake into insurance pool for compensating non-malicious losses (such as slashing due to software bugs).

3)Staking Derivatives Ecosystem: Achieving liquidity release of staked tokens
stVORN Value Anchoring Mechanism:

Real-time exchange rate updates through oracle: 1 stVORN = staked principal + accumulated rewards

Support as collateral in mainstream DeFi protocols, 75-85

Establish official liquidity pool, providing instant stVORN/VORN exchange

Yield Tokenization Products: By further tokenizing staking token yields and collateral, improving staked token liquidity, thereby encouraging active user participation in staking. Including but not limited to:

yvVORN: Represents future one-year staking yield rights

pvVORN: Represents staked principal, redeemable 1:1 at maturity

Both tokens can trade independently, meeting different risk preferences