Orcfax Validator License Mint

Summary

The time has come to mint your Orcfax Validator license! But before we start explaining how you can mint your validator license, it’s important to revisit the path towards becoming a Cardano mainnet Orcfax validator and at which stage we are now:

1. Reserving your Orcfax Validator license ✅
2. Purchasing and minting your Validator license (you are here now)
3. Introducing the Orcfax Incentivized Testnet (ITN)
4. Onboarding ITN participants
5. Depositing your $FACT into the Validator smart contract
6. Participating in the ITN
7. Claiming your ITN $FACT rewards
8. Going live on mainnet as a validator with our decentralized validator network

We will publish medium articles, open up discord channels and host AMA’s for all these steps as we move forward. This article is only focusing on the second step: Purchasing and minting your Validator license.

To become an Orcfax Validator you will need to 1) reserve, mint and hold a Validator license and 2) deposit $FACT tokens in our validator smart contract.

1. There are only 100 validator licenses available. A license will cost 100,000 $FACT to mint
2. When the validator nodes begin operating, a deposit of 500,000 $FACT is required in the validator smart contract.

The window for minting the license will start on April 15th at 18:00 UTC and close on April 18th at 18:00 UTC. Everyone holding a valid reservation can mint their license during this time window. Remaining licenses can be minted by anyone during the next phase of the minting process starting April 19th at 18:00 UTC.

How the mint works

Phase 1: Minting for the whitelisted participants

Orcfax will release the whitelisted wallets ahead of the mint. These wallets can also be found on the validator reservation leaderboard. When minting and sending your FACT tokens, It’s imperative that participants use the same wallet with which they made their reservations. This ensures that the license NFTs are correctly distributed to their rightful owners. Practically this means that you can use any receiving address within your wallet (with the same stake key) to send your FACT tokens, but the NFT will be sent to the specific receiving address that made the reservation.

Whitelisted participants must send EXACTLY 100,000 $FACT to the Orcfax ecosystem wallet beginning April 15th at 18:00 UTC and before April 18th at 18:00 UTC. The address of this wallet is:

• addr1qywtx9h4s3yhjf04r227zvwknnawzegm3zh5p8hslfagv5rpdaznz446f8m97xvcan5xnfxemenj3pnxwx3qyuj99nsq08gqx6
• Or $fact-ecosystem (ADAhandle)
• Validator License Policy ID: https://pool.pm/policy/0c6f22bfabcb055927ca3235eac387945b6017f15223d9365e6e4e43
• MAKE SURE TO DOUBLE CHECK! When in doubt, check with the team in our Discord.

After you have sent your FACT tokens to the Orcfax ecosystem wallet, you will receive your license NFT within 5 minutes.

Your NFT will be numbered corresponding to your position in the reservation leaderboard.

Phase 2: Minting the remaining validator licenses

Any remaining license NFTs can be minted by anyone on a first come first serve basis, starting April 19th at 18:00 UTC. To participate in this phase of the minting process, you need to send 2 ADA and EXACTLY 100,000 $FACT to the following address:

• addr1q88lpdprdg74r0mmhety9f3n8u82538xk6mu6mqwlyxvavwgv3jpzkjewnwmgguq0kdcu7vawylxfsmjey2nwp87xt6szqle74
• Validator License Policy ID: https://pool.pm/policy/0c6f22bfabcb055927ca3235eac387945b6017f15223d9365e6e4e43
• MAKE SURE TO DOUBLE CHECK! When in doubt, check with the team in our Discord.

The minting script will send the remaining NFTs to the wallets that sent in their transactions the first. After all the NFTs are minted and distributed, the minting script will send back the remaining FACT tokens.

Royalties

Following input from our community and a related vote on Discord, we’ve set the royalty fee for trading the Orcfax Validator license on the secondary market at 5%. These royalties will go to Orcfax network.

ITN Bonus multiplier for holding your $FACT tokens

ITN participants will receive $FACT rewards for helping us test and improve the network. If you participate in the ITN, keep your license in the same wallet, and continue to hold your $FACT tokens, then you will be eligible for a bonus multiplier. We will provide more details about the ITN rewards and the specifics of this bonus multiplier in an upcoming article. However, we can now reveal that retaining a larger amount of FACT tokens in the same wallet used to reserve your license will result in a higher bonus multiplier. This also means that removing some of your $FACT from this wallet will not fully remove your right to receive this bonus.

Key Points for Participants:

1. Double-check your wallet’s eligibility for minting in phase 1, using the whitelist distributed by Orcfax.
2. Participants must send EXACTLY 100,000 $FACT to the right address. Every other amount will fail to mint your NFT license.
3. Phase 1 of the minting process is open for 3 days, providing enough time for all whitelisted wallets to participate.
4. Phase 2 of the minting process is open for all and will be decided on a first come first served principle.
5. $FACT tokens collected during the mint will directly support the growth and sustainability of the Orcfax ecosystem.
6. Pay close attention to Orcfax communications, including upcoming articles detailing the ITN rewards and bonus multiplier initiatives.
7. Trading the license on the secondary market will incur a 5% royalty fee.

Disclaimer

Be aware! During the mint, people might try to scam you. Only use our official channels as your information source.

About Orcfax

Orcfax is a decentralized oracle service that publishes data about (real world) events to the Cardano blockchain. Orcfax data is made available to on-chain smart contracts in Cardano’s eUTXO native format using the Cardano Open Oracle Protocol (COOP). Learn more about Orcfax.

Questions? Join our Discord!