If an ATOM token holder chooses not delegate to a Validator, they will not receive a percentage of network transaction fees nor block provisions, and their percentage of total ATOMs will decrease over time from inflation. Because ATOM holders are heavily incentivized to bond their staking tokens, it would make it far more difficult for the attack scenario described above to occur on the COSMOS Network. If anyone tries to buy the amount of ATOM required to get 33% of the stake on the open market, the market for ATOM will become progressively more illiquid, causing the price of each successive ATOM to become more expensive, greatly increasing the cost required to make an attack feasible.
Why become a delegator?
