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©2025 ICON Foundation
ICON Network is a blockchain network operated by Public Representatives (Validators). Therefore, Users (ICONist) must vote for highly qualified validators more a more stable ICON Network. Each validator can submit the Monthly Reward Variable for Representative (i_rep) that affects the total reward amount for the ICON Network. Therefore, users should compare each i_reps submitted by each validator and make right decision. In addition, users who have participated in the vote will receive reward with Annual Delegation Reward Rate for Representative (r_rep).
· Public Treasury
Public Treasury, a fully automated reward fund that stores all ICX rewards until ICONists claim their rewards using I-Score. It is funded by ICX issuance and network fees (Step).
· i_rep
Monthly Reward Variable for Representative is a variable that determines the reward amount for contribution by Representatives.
· r_rep
Annual Delegation Reward Rate for Representative is the rate received by an ICONist who delegates their ICX to a Representative. At the moment, considering the r_eep and r_dapp, the r_rep is tripled.
· Step Price
Step Price is a variable that determines the price of Step.
Each Main validator suggests a commission rate, then the ICON Network takes an average to form the Global Commission Rate
The percentage of block rewards that go to validators. For example, with a 20% commission rate, if 100 ICX inflation is created then 20 goes to validators and 80 goes to voters.
Teams with a “Yes” are doing extra work to manage and grow the ICON Network
CPS funds development within the ecosystem with validators optionally participating on a council voting on which projects receive funding. Sponsored Projects counts each time a team has invested their own ICX to support a project.
Power informs how many rewards are given to a team and is calculated as the total number of votes covered by bond x20 (ie bond 5% of the total votes). If there are votes not covered by bond or bond not covered by votes it has no impact on power and hence rewards.
In order for a team to get power and hence become a main validator, they need to bond ICX to their address which is subject to slashing penalties if the validator misbehaves. Check the docs for penalties associated with different infractions ranging from minor ones such as missing a series of governance votes / node going offline to major ones such as double-signing which can result in a substantial deduction of bond and disqualification of further block production.