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How to Participate in “Profit Data”

“Profit Data” activity started on June 25, 2021 and has continued for one month. At present, there are 209 data providers in the network and 350 data guarantors. The total data computing power reaches 169.1TP, and the total effective stake reaches 1.77M CSM. At present, every 1,000 CSM in effective stake can receive 0.22 CRU per day.

To increase the participation of this activity, Crust launched the “Data Power Boost” activity and the “Lucky Order” activity.

“Data Power Boost” was launched from July 1st to July 10th, and the data power generated during this period was calculated with a 10x multiplier. During this period, the data power boomed from 2.6TP to 124.3TP and the number of files also increased from 30,149 to 34,638. A large number of storage orders flooding into the market caused network congestion for a while.

DSM Storage Market Profit Increase

To celebrate the upcoming launch of the Crust mainnet, the DCF foundation have added more rewards for the “Profit Data” activity and launched the “Lucky Order” activity. 40 CRU per day will be rewarded for “Data Collectors” to encourage storage nodes and ease network congestion. The top 4 data collectors that have completed data storage and reported will be able to receive at least 1 CRU reward.

A large number of storage orders have triggered the storage market price adjustment mechanism, and the price of orders has gradually risen. With the “Lucky Order” activity joining, the profit of nodes that actively participate in the storage market collecting orders has increased significantly, and part of nodes’ storage market profit even exceeded Staking profit.

Order Price Fluctuation

Many community users are concerned about the high price of placing order in the storage market, worrying that if the price is still too high after the mainnet goes online, this may cause common users to be unable to place an order. We would like to explain that this situation is unlikely to occur after the mainnet launches.

First of all, since Maxwell is mainly used as a preview network to test the mainnet functionality, it is different from the mainnet environment. The reason for current network congestion on the Maxwell preview network is the number of validators and storage capacity limitations on the preview network. After the mainnet launches, with the ecosystem and applications building, more nodes will join the Crust network and take orders to improve the network throughput and solve the issue of network congestion.

Secondly, the order congestion on Maxwell is a special situation by the “Profit Data” activity. Spamming orders by some users further causes network congestion. The “Lucky Order” activity has triggered the price adjustment mechanism in the storage market. The higher the Tips, the more priority orders will be taken, which will help decrease the fraud order and encourage more nodes to take orders, so that network congestion will be eased.

In the early stage, due to parameter adjustments, the order price will fluctuate greatly. When the behaviour of spamming orders is stopped and the network congestion reduces, the order price will go back to the normal range. For details, please refer to the price adjustment mechanism part of the economy whitepaper v1.3.0. Users with normal storage needs can wait until the price is back to the normal range and then place orders. The current order price on Maxwell is not the same as the order price after the mainnet launches.

In summary, after the storage market of Crust mainnet launches, there won’t be thesituation of an order price being too high to use.

Participating in Profit Data

To Data Providers:

1. After a while, the spam orders will be stopped and the order price will go back to the normal range, the data providers can continue to place orders and store meaningful files. If you want the number of copies to reach 25 as soon as possible, you can re-order every 5–6 hours to increase the chance of being seen and pulled by the node.

2. Please note that if the number of file copies does not reach 25 over 7 days, it cannot be counted as effective power. Therefore, the files need to be backed up by more nodes as soon as possible within 7 days.

3. Since the order collection speed is affected by the network environment of both the data provider and the data collectors, it is recommended to upload multiple small units of data to make it easier to be collected by multiple nodes.

4. If you don’t know how to configure IPFS, you can log in to which allows you to simply upload and store files and receive profit.

To Data Guarantors:

1. Observe the guarantee rate set by the data provider (the range of the rate is 0%-100%) and select a high guarantee rate to obtain higher guarantee profits. Please note that if the total amount of staked CSM exceeds the upper limit of staking, the profit will be reduced according to the staking ratio.

2. The guarantor can only guarantee one data provider. If there are enough CSM, you can create more accounts to provide guarantees to different data providers.

To Data Collectors:

1. Optimize sManager to collect orders according to the tutorial which was announced previously. The current storage order price is relatively high, plus the profit from the possible “lucky order” (one order storing for 6 months can get 1 CRU as reward), the profit is considerable.

2. The current DSM storage market profit will be higher, but at the same time the bandwidth usage will be relatively large. It is recommended to adopt some flow control methods to maintain the availability of some bandwidth and avoid the penalty risk of missing workload reports.

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Crust Network

Crust Network is a decentralized cloud storage provider which was designed to realize our three core values: decentralization, privacy, and assurance.