Initial Results for IOST 2020 Q2 Contribution Rankings and Rewards
Partner and Servi Node contribution report submission for Q2 2020 has now officially concluded and initial rankings have been assessed by the IOST Foundation Committee. In total, 90 nodes successfully submitted valid reports across 5 categories.
Since the establishment of the partner node program, IOST has continuously optimized and adjusted it based on the feedback of each partner and recently launched the v4.0 Staking Mechanism on May 20, 2020. The version officially took effect on July 1, 2020. Therefore, the evaluation and distribution of rewards in Q2 2020 will still be conducted in accordance with Staking 3.0.
In addition, since last quarter was set from January 1st to March 9th. Therefore, this quarter, a total of 113 days will account as contribution period and rewards will be issued according to the period from March 10, 2020, to June 30, 23:59.
There will be over 130 million IOST as contribution rewards and dividends this quarter. Among them, a total of over 65 million IOST belong to the rewards based on contributions and will be distributed to the partners and voters according to the tier.
According to the rules of the Staking mechanism v3.0, all partner nodes will be organized into 5 tiers, the number of people in tier 1–4 will not exceed the upper limit (respectively 18, 19, 25, 20), with no limit in tier 5, and the reward amount for each tier is fixed. In addition, the contribution reward ratio for tier 1–3 has been raised. Therefore, the rewards for tier 1–3 partners will increase greatly this quarter.
In this evaluation period, a total of 16 nodes successfully achieved tier 1 status, earning the highest rewards of more than 2M IOST each. It is worth mentioning that the tier 2 partners will also receive a higher amount of contribution rewards. Each tier 2 node and its voters can get a total of more than 1.2 million IOST as contribution rewards.
Assessment and Ranking
Note: Starting July 1, 2020, IOST will conduct evaluation and reward distribution in accordance with the Staking mechanism v4.0.
On June 22, 2020, IOST issued the Q2 nodes contribution report submission notice, and the collection ended at 23:59 on June 30. After that, each node’s report was assessed independently by the IOST Foundation Committee.
An indicative framework and scoring system per category was used which was then averaged for each report. Nodes were then ranked by average scores in each category. Once the initial tiers have been established, an open and collaborative discussion took place to compare reports that were similar, close in scores, or on the board-line of tiers. In a few exceptional cases where an assessment was tied and could not be resolved, these nodes were awarded equal ranking.
Through this week-long process, the following node rankings were established and displayed below (sorted in no particular order).
Disputes and Payouts
In the next phase and in the spirit of fairness, we will now open up a consultative period where any node that disagrees with their assigned tier can query their result. Nodes must provide specific reasoning for a requested tier change and also highlight which node in an above tier and same category should be rotated. This request will then be assessed and a final decision will be made.
After this period, all contribution rewards for Q2 2020 will be paid out in full and automatically credited to each node’s account. For disputes please contact your regional responsible (China, Japan, Korea, or International) for the node ecosystem.
- Disputes will be open until 23:59 Friday, July 10th (GMT+8).
- The final rankings will be released on Monday, July 13th.
- Contribution rewards payouts will finish by the end of August, please pay attention to IOST official announcement for updates.
Please send email to: Stephanie@iost.io
Building the IOST Node Ecosystem
In 2020, IOST optimized the contribution reward system of partner nodes and introduced the contribution reward system v2.0 and updated the Staking mechanism to version 4.0 to provide more incentives for partner nodes who remarkably contribute to the IOST ecosystem.
In addition, we will further strengthen the connection with the node partners in 2020, and hold at least 2 partner node conferences every quarter for everyone to communicate with each other and make progress together. We are sure that in 2020, the IOST partner node program will gain greater success, with more contributions, and more new partners.
With excellent rewards for nodes and their voters, we have demonstrated the high benefits that building and contributing to the IOST ecosystem can deliver. With significant rewards for the real contributors in the IOST ecosystem, our goal is to incentivize nodes to keep contributing to the IOST ecosystem and help us achieve our mission of being the leading scalable and decentralized public blockchain in the world.
For support and advice for specific initiatives from the IOST core team, please contact your local representative. Also, keep an eye on your Node discussion groups for requests for support in several upcoming initiatives run by the core team, these count to your contributions too!
To become a node, join the IOST ecosystem and start earning rewards please check out the Servi & Partner Node Registration.
If you would like to hang out with the IOST community on chat, social media or to discuss product development, we have something for everyone:
- International English Telegram Group: https://t.me/officialios
- IOST Announcement Channel: https://t.me/iost_announcements
- IOST Official Twitter: https://twitter.com/IOST_Official
- IOST CTO Terry Wang Twitter: https://twitter.com/terrence_iost
- IOST CEO Jimmy Zhong Twitter: https://twitter.com/jimmyzhong_iost
- Slack Developer Community: https://invite.iost.io
- Uptrennd: https://www.uptrennd.com/iost
- Reddit: https://www.reddit.com/r/IOStoken
- Facebook Page: https://www.facebook.com/IOSTofficial/
- Facebook Group: http://bit.ly/IOST-FB-Group
…………………………………………………….
