HyperCycle’s Tech Update# Getting Started with HyperCycle’s dApp Using the Share Creation Wizard-Part I
Introducing the Hypershare!
Dear community,
The HyperShare smart contract is an exclusive feature created by HyperCycle to manage the value and revenue generated by an activated HyperCycle Computation Node for all the parties involved in running the Node.
It is a way to operate a HyperCycle Computation Node as a group within our AI Compute network using a fully decentralised method relying on governance, revenue sharing and shareholding via the usage of what we call the S-Tokens and R-Tokens.
Today, we are proud to reveal the tool that we created, allowing you to flawlessly go through this creation process, using what we call the Share Creation Wizard.
This guide will accompany you to the few steps involved in this creation, from marrying your HyPC and Node license (I), to managing your created Share (II) and deploying your activated Node on the HyperCycle network to initiate the recently discussed new Tilling process that will now include Compute Phase 1 (III). While today’s guide will focus on the first part, you can expect part II and III to be deployed in the upcoming weeks, if not sooner!
Along with this guide, we will also deploy a complete Video Tutorial on our Youtube channel, where Dr. Robert Moir himself accompanies you through all the steps that are detailed below.
We also want to underline the huge amount of collaborative efforts that were necessary to present those processes in a simple user journey form, embodied in one single tool, as we all know how complex HyperCycle’s technology is and how important it is now to onboard everyone into our internet of AI.
Let’s begin!
I- Marrying your HyPC with your Node license to create your HyperShare
The first mandatory step in activating your Node on the HyperCycle network is realising the “marriage” between your HyPC tokens and your Node license, to create your Node’s unique identity using the CHyPC container. While those technical terms have been already described in the two whitepapers rather extensively, we’ll keep it very simple here: let the wizard guide through how to marry your license to your tokens by creating a HyperShare in a few simple steps.
A- Connecting to the dApp and using the Share Creation Wizard
Go to dapp.hypc.ai/shares and connect to the dApp with your metamask wallet on the Ethereum network.
There, you’ll see a list of the HyperShares already created by people with the Share Creation Wizard and also a button using this name where you’ll just have to click on.
B- Marriage to create the HypeShare for your Node
Step 1: Node license selection
Once in the Wizard, you’ll see your Node licenses already present in your wallet listed on the dropdown.
As a reminder, Node licenses can have various degrees of “levels”, that require specific amounts of HyPC in order to create your share. Specifically 1,024 HyPC tokens per Node instance contained in the License.
We advise you to make sure you already own enough HyPC tokens in your wallet to continue with the wizard, otherwise the wizard will orient to the available platforms where you can acquire more tokens.
Please refer to this board and verify if you have the requested HyPC amount depending on your Node license level.
For the sake of this guide, we will proceed with the HyperShare creation for a Level 10 Node license.
Once you have checked, select the Node license you would like to activate with your HyPC tokens and click Next.
Then, click on Approve License to approve the deposit of your license to the HyperShare contract.
Step 2: using the CHYPC NFT pointer
If you do not own the CHyPC already, the Wizard will detect it and automatically guide you to the conversion of your HyPC tokens into it. If you already own a CHyPC at this level you can skip this step.
Otherwise, click on Approve your HyPC.
Once confirmed, click on Obtain CHyPC token.
Now, just select the CHyPC that you have created (Level 10 in our example) and click Next.
Step 3: Creating the HyperShare
You have now arrived at the step where you can create the HyperShare! The main principle here is to allow the HyperShare contract create the marriage certificate between your CHyPC and your Node license.
To achieve this, just follow the simple steps as shown on the wizard:
Approve License to allow the deposit of your Node license to the HyperShare,
Approve CHyPC to allow the deposit of the CHyPC to the HyperShare,
Lastly, click on Marriage to marry the two!
Congratulations, you’ve now created the HyperShare for your Node!
II- Setting up your HyperShare using the wizard
The Share Creation Wizard allows you to go further than just marrying your HyPC with your Node license, and lets you pre configure the parameters of your share, by choosing how you’d like to distribute the R- and S-Tokens that are associated with your newly created HyperShare.
Your new HyperShare gives you ownership of two kinds of tokens: Ownership or S-tokens, representing voting shares of the HyperShare; and Revenue or R-tokens, representing rights to withdraw revenue accumulated from deployment of your HyperShare on the HyperCycle network.
If you need to distribute either S-tokens to other part owners of your Share or R-tokens to automatically distribute future revenue with beneficiaries that are tied to this HyperShare’s activity on the HyperCycle network, you may send tokens to addresses of your choice now.
Note that at this stage, those steps remain optional, and you have the choice to do this later by clicking on the button Skip this step for now.
However, if you want to go on with those steps, copy paste the Etherum wallet address you wish to send the R and/or S tokens to, and click Continue.
Default HyperShare contract characteristics:
Current HyperShare Wizard characteristics:
The current HyperShare Wizard is pre-configured in a way that 30% of the R-tokens are reserved inside the HyperShare contract as revocable R-tokens, to be used to distribute revenue to parties that should not permanently own the R-tokens (such as hardware operators). In a future update you will be able to configure the temporary ownership of these tokens in a voting process, where the number of votes is determined by S-token ownership.
Hence, the automatic allocation as follows:
III- Quick presentation of the Node Management Page
After completion of the previous steps, the Share Creation Wizard will direct you to another page called the Node Manager, that will allow you to configure how the HyperShare that is now tied to the activity of your Node.
Note that this page will undergo many updates in the near future, allowing you to manage the HyperShare and all its direct beneficiaries even further, with the implementation of additional tools like Deployment, Messaging and Governance.
For now, the current page displays some basic data such as:
- HyperShare Status
- CHyPC ID
- License ID
- Operator Address, which is the address that’s allowed for managing the HyperShare
- Share Number
It will also display the amount of S and R Tokens that are currently under your management before distribution.
In our example where we created a HyperShare for a 1-Node, the page will display 1,024 S-Tokens and 716 R-Tokens.
IV- What’s next?
Now that we’ve seen the extended possibilities offered by this amazingly simple Share Creation wizard, we have another exciting news to share with you: soon, you’ll also be able to activate Tilling Phase 2 directly on the dApp!
As explained at the end of the Video Tutorial by Dr. Robert Moir, the dApp will also welcome the addition of Tilling-as-a-Service with a few simple clicks, without impacting the Tilling that’s been currently operated on Nodemarket.
Just like magic, the moment you’ll activate tilling on the dApp, the complete history of the Tilling assigned to your Node license will be passed on to your HyperShare, thus continuing the increase of your overall Node’s Score that will now include both Proof of Uptime and Proof of Computation.
We will share more about this in a next Tech Update.
V- Conclusion
It is with great excitement and profound gratitude to our Tech department that we’re happy to have reached this milestone, where anyone can now enjoy the marriage between their assets, thus resulting in the unlocking of the real Native HyPC on the HyperCycle network.
From there, we’re one step away from initiating Tilling-as-a-Service directly on the dApp, allowing all users to take on the torch on the delegated Tilling that’s been running since October 2023, and operate their Nodes as they see fit.
Special thanks to Toufi Saliba, Dr. Robert Moir, Dr. Barry Rowe, Dann Toliver, David Liendo, Jonathan, NodeMarket, Cryptopia and of course, our wonderful community for their patience, without which this wouldn’t have been possible!
Rejoice! The adventure is only getting started!
Press Inquiries: jack@hypercycle.ai
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