Hyperion Mainnet Map3 Node Will Be Open for Staking
Since 21.00 (GMT+8) on 27th October, users will access Mainnet staking to initiate or participate a mainnet Map3 node. This guide will help you understand how to initiate/delegate a mainnet node.
How to create a Map3 node
7-DAY lock period for each staking
The 7-day lock period helps secure the mainnet running with a minimum level of staking amount. Initiators and delegators can suspend the node or withdraw partial amount of staking after the period ends.
Minimum Staking Requirement
All mainnet HYN holders can initiate or join a Map3 node once the minimum staking requirement is met. Since the mainnet launch, the min. staking of a node has reduced from 1 million HYN to 550k HYN for the 1st scaling period, without upper limit. The min. amount will further reduce as the node scales up.
Initiators must stake at least 10% of min. required staking amount in each node, without upper limit.
For instance, the current min. node staking requirement is 550k HYN, then an initiator must at least stake 550 HYN. Stakings will be locked for 7 days before participants take further actions, including withdrawal or suspension. Please note that a node cannot restart once suspended.
Change to management fee
Management fee provides extra rewards to node initiators, which can be adjusted within the range of 10% — 20% by the initiator. A higher management fee may discourage other HYN holders from delegating to the node, since it will reduce the rewards to participants.
In addition, management fee must be lower than the initiator’s staking pro-rata to the minimum node staking requirement. For instance, if the initiator staked 55k HYNs to a 550k node, then the management fee can only be set to 10%. However, if 165k HYNs has been staked to the 550k node, then the management fee still cannot exceed 20%.
Once the node is initiated, management fee can not be further adjusted until the node extension period approaches.
How to participate Mainnet Map3 node
All mainnet HYN holders can join a Map3 node through micro-staking. Participants can check real-time node updates in Titan app before micro-staking.
Staking requirement
Each micro-staking to a single node must be at least 0.1% of the min. node staking requirement, with no upper limit. In the meantime, as nodes scale up to reduce the min. staking requirement, the min. micro-staking amount by each participant is always 100 HYNs.
In addition, each delegator can stake multiple times to a single node to accelerate the node initiation. Higher staking to a node will gain more rewards in return.
Moreover, the sum of remaining lock period will extend with each additional delegation, since each entry requires a 7-day lock period.
For instance, if 3 days after having delegated 550 HYNs to a node, a delegator decides to add additional 550 HYNs to the node. While the 1st entry remains a 4-day lock-up, the 2nd delegation remains 7 days. In this case, the total remaining period for the total delegation will be: （4*5.5+7*5.5）/11=5.5days.
How to calculate node rewards
In the first stage of mainnet migration, all Map3 nodes will get rewards from block producing by re-staking to Atlas nodes. Currently the 88 Atlas nodes are deployed by Hyperion Foundation to ensure the smooth running of mainnet. Therefore, block rewards, which is 2 HYNs per 6 sec, will be fully distributed to the restaking nodes. 88 Atlas nodes will charge NO management fees or share any distributed rewards.
In the next phase, users can self-deploy Atlas nodes and get distributed rewards with detailed instructions.
How to Retrieve partial staking
After a 7-day lock period, if the node hasn’t been initiated yet, both the initiator and delegators can retrieve their staking under the following rules:
Stakers
The management fee must be at least equal to the initiator’s remaining staking ratio to the min. requirement.
For instance, if the initiator staked 55k HYNs to a node that requires 550k HYNs at min., and set management fee to 10%, then no staking can be retrieved after 7 days.
If the initiator staked 110k HYNs to a node that requires 550k HYN at min., and set management fee to 10%, then a 10% staking can be retrieved after 7 days.
Otherwise, the node will fail to initiate.
Delegators
Delegators can withdraw all delegations, however, attention should be paid to the changing lock period after each additional entry.
How to extend a node after 180-day-lock-up period
The node will start running after an epoch (approx. a day) ends once meeting the min. node staking requirement. 14 days before the deadline approaches, both initiator and delegators will decide whether to extend the node in sequence.
Initiators
Within the last 2nd week (e.g. between the 166th — 173rd days) before the deadline (the 180th day), initiators must decide whether to extend the node.
If extends within 7 days, the initiator can adjust the management fee for the next node.
If declined within 7 days, the node will be suspended after the deadline. All stakings and rewards will be withdrawn to delegator accounts after the next epoch.
If undecided within 7 days, the node will extend by default.
If extended, the node age will be accumulated to the next lock-up period, while once suspended, the node age will be zero.
Delegators
Once the initiator extends the node, delegators will choose whether to follow the initiator within the last 7 days (e.g. between the 174th — 180th days).
If declines to follow within 7 days, the delegator will receive the delegation and rewards in the next epoch;
If undecided within 7days, the delegation will extend by default;
Once the delegator agrees to extend the node:
- the node will extend when meeting the minimum required staking
- the node will enter crowd-funding period if staking amount is not satisfied
Crowd-funding Period
There’s no time limit for a node to complete crowd-fund. However, a longer period will affect node age.
Lock-up 1 day = + 1 node age
Unlock 1 day = -2 node age
The max. node age = 500
Crowd-funding period also counts as unlocking period. Crowd-fund for 1 day will deduct 2 node age. In the meantime, the upper limit of node age is set at 500 to maintain the level of decentralization.
Map3 node re-staking rules
All running Map3 nodes can re-stake to Atlas nodes. Since Map3 nodes can only re-stake to obtain block rewards in the 1st phase, 88 Atlas nodes will produce blocks and distribute rewards to the Map3 stakers. Currently, the 88 Atlas nodes run by Hyperion Foundation will charge ZERO management fee nor share consensus. In other words, all block rewards will be distributed to each Map participant instead.
How to withdraw reward or cancel re-staking
Map3 re-staking reward can be withdrawn at any time. Initiators can withdraw Map3 reward for all, then distribute it to each delegator, or delegators can retrieve rewards for themselves.
In addition, Map3 nodes can cancel the re-staking at anytime to withdraw the delegation and rewards.
