Choosing a Representative
Nano (XNO) holders can run their own nodes to cast votes or they can delegate their voting weight to someone else who is running a node. They can re-delegate their voting weight at any time. Delegating your voting weight has no impact on your funds, as you remain in full control of them and can use them as you normally would.
Delegating voting weight should not be done lightly as it is the main thing securing and controlling the network.
Given that running a voting node takes commitment, knowledge/skill, and has a time/resource cost associated with it, the most suitable option for most people will be to delegate their voting weight to another trusted operator.
Importance of self-custody
If you are not self-custodying Nano, then that Nano and its voting weight is not in an account you control. It is not advised to use exchanges for long-term storage for the following reasons:
- limits decentralization and consequently the value of the network
- exposure to unnecessary risk
- provides liquidity for shorting
The value of Nano's network comes from its ability to be decentralized and self-sovereign. Custodians that behave in a way that puts that at risk should be avoided.
How do I change my Nano representative?
You broadcast a change rep operation to the network for a given Nano account. This can be done via most self-custody wallet applications (Natrium, Nault, etc).
Where can I find a good representative?
Avoid randomly selecting a representative. Ideally, you should know the maintainer and why they are running a node/representative. Mainly, you should understand their commitment and motivations.
To mitigate trust, a good choice should have:
- Below 1 % of total voting weight (very important)
- Not newly created, the older the better
- Active & known community member
- A high uptime
If you don’t know any node maintainers, nanocharts.info is a good starting point. Try to select a node operator who is known and has a good reputation in the community.
