Orcfax Validator’s ITN Multiplier — Increase your ITN rewards!

5 min readApr 20, 2024

TLDR

Starting from 18:00:00 UTC on 22–04–2024 , we will take daily snapshots of all wallets that hold an Orcfax Validator License NFT. Until the ITN starts, you can hold your license and $FACT to build up a multiplier that can reach a maximum of 35%. This multiplier will increase your base rewards throughout the entire ITN.

📅 Multiplier Start Date: 22–04–2024 18:00:00 UTC
ITN start date: TBA
🚀 Multipliers:
1. Holding and not moving your license (5%)
2. Not falling below 250,000 $FACT (10%)
3. Adding more than 250,000 $FACT to your wallet (up to 20%)

TLDR of the TLDR: Get up to 35% extra $FACT rewards during the Incentivized Testnet!

Rewards for Loyal Validators

Starting from 18:00:00 UTC on 22–04–2024 , we will take daily snapshots of all wallets that hold an Orcfax Validator License NFT. Until the ITN starts , you can hold your license and $FACT to build up a multiplier that can reach a maximum of 35%. This multiplier will increase your base rewards throughout the entire ITN.

1. Holding License Multiplier (5%):

Maintain continuous possession of your NFT license from the multiplier start date until the ITN start date to earn a 5% multiplier. Transferring your NFT out of your wallet, even briefly, will result in the loss of this multiplier.
Moving your NFT back will not restore this multiplier.

2. Minimum $FACT Holding Multiplier (10%):

Maintain a minimum of 250,000 $FACT from the multiplier start date until the ITN start date to qualify for an additional 10% multiplier. If your wallet’s $FACT balance drops below 250,000, even briefly, you will lose this multiplier permanently, and it cannot be regained even if you later restore the balance.
Only wallets that hold a license NFT at the multiplier start date are eligible for this multiplier.

3. Additional $FACT Holding Multiplier (up to 20%):

Using a daily snapshot method, the average of your $FACT holdings will be calculated from the multiplier start date until the ITN start date. This multiplier will activate when your wallet’s average balance exceeds the threshold set by the Minimum $FACT Holding Multiplier (250,000 $FACT) and will increase gradually and linearly up to a maximum multiplier of 20% for wallets that contain an average balance of 1,500,000 $FACT.
When calculating your average $FACT balance for this multiplier, all days from the multiplier start date up to the ITN start date will be used. This means that if your balance exceeds the minimum 250,000 $FACT after the start date, the days prior to meeting those requirement will be included in the average calculation with a value of zero.
While this multiplier does not require actively holding a validator license, or for users to have begun the campaign with 250,000 $FACT, the multiplier will not initiate until users have met that requirement.

License holders that meet these requirements can combine these incentives for a potential total multiplier of up to 35%! This offers an excellent opportunity to enhance your participation rewards as we approach the ITN start date.

Check your Multiplier Rewards!

Soon after the multiplier start date, we will update the license reservation leaderboard to show the multipliers of all wallets holding a license. We will let you know as soon as this dashboard is ready.

Q&A

Q: What if I sell or transfer my NFT license and then buy another one?
A: You can sell your license and buy another one; however, to qualify for the Holding License Multiplier, you must continuously hold a license from the multiplier start date to the ITN start date. In other words, transferring licenses after 22–04–2024 18:00:00 UTC will result in the permanent loss of your 5% multiplier.

Q: What happens if my $FACT balance falls below 250,000?
A: If your $FACT balance falls below 250,000 at any point after the multiplier start date, you will permanently lose eligibility for the Minimum $FACT Holding Multiplier of 10%.

Q: What if I buy a license from the secondary market after the multiplier start date and have more than 250k in that wallet?
A: You will not be eligible for the first two multipliers (5% + 10%). But you will still be eligible to build up a decent multiplier via the 3rd multiplier by adding more $FACT to your wallet.

Q: What if I buy a license from the secondary market after the multiplier start date and have more than 1,500,000k in that wallet?
A: You will not be eligible for the first two multipliers (5% + 10%), but you can still build up a decent multiplier via the third multiplier. Do note that zero $FACT will be used for the days you did not hold a license to calculate your total average holding (regardless of how much $FACT you held in that wallet during those days).

What’s next for Orcfax Validators?

We will soon publish another article that explains how the ITN will work, how you can register, what you will need, how the rewards will be calculated and more. Stay tuned!

As mentioned before, it’s unrealistic to commit to specific dates for our ITN and mainnet rollout. However, it does help to know where we are on this journey: