Since 2019, more than 400 partner nodes from about 20 countries around the world have joined the IOST ecosystem, including numerous media enterprises, exchanges, top tech teams, enthusiastic communities, etc. With the joint efforts of everyone, IOST has achieved a total staking volume of more than 4 billion IOST and also recorded great achievements in multiple fields such as payments, public welfare, education, traceability, mass adoption and compliance progress.
To attract more partners to the IOST node ecosystem while ensuring the interests of the main contributors, IOST now presents the Node Program v2.0, which has been be in effect from March 10, 2020.
A. Introduction to the Contribution Reward System
The objective of the Contribution Reward System is to incentivize all Nodes to contribute towards building and developing the ecosystem, as well as allowing Nodes that do not receive a large share of votes to still earn a good amount of rewards for their significant contributions to the IOST ecosystem.
The following document lays out the new contribution reward system. Your feedback and suggestion are welcome.
B. Overview of Contribution Reward Pool
Annual contribution rewards account for 2% of the total supply of IOST, 1% coming from inflation and 1% provided by the IOS Foundation.
50% of the contribution reward is allocated based on the number of votes, so the more votes, the more rewards. The remaining 50% will be allocated according to the contribution reward mechanism, which will be explained in detail in this article.
C. Reward Distribution and Timeline
1. Election rewards are issued daily and contribution rewards are issued quarterly (every 3 months).
2. Quarterly contribution reports should be submitted at the end of each quarter. Rewards will be issued after the final rating results are announced.
3. The system calculates the number of votes obtained by the node on a daily basis and the rewards for the share of votes are distributed based on the average voting share received during the quarter.
D. Contribution Evaluation Method
1. Partner nodes submit their contribution reports on a quarterly basis, describing in detail each quarter’s contribution to the IOST ecosystem. (Check this template for more info: https://iost-eng.typeform.com/to/V3dFPM)
2. The IOST Foundation evaluates the contribution reports of each partner node.
3. According to the contribution ranking, every partner node will get the tier level matching their contribution value and get the corresponding rewards to its tier.
4. Partner nodes can choose one of the following contribution categories to submit a contribution report. The selected contribution category must be the most relevant to the nature of its contribution content. If the node operator also makes some contributions that belong to another category(s), these contributions need to be described in the contribution report and will be counted together in the final ranking. For example, multiple DApp developers have launched DApps of equal value, but one of the DApp developers has promoted his DApp, which will give the partner node extra points and improve its ranking.
Specific contribution categories include:
- Content creation and promotion
- DApps
- Integrations (wallet, exchange, browser, etc.)
- Events / Meetups / Hackathons
- Community Building
- Others (On-boarding & Referral)
E. Evaluation criteria for each contribution category
Each contribution report is evaluated by the following criteria:
1. Content creation and promotion
Spread the awareness on IOST to crypto fans and mainstream users to attract more users and developers to join the IOST network. First, the content production of the partner nodes must be of high quality, but more importantly, the number of views or reads for these content. It should be placed on a platform that can get a lot of exposure outside the IOST community and shared through social platforms, news portals, and crypto communities.
- Content quality (accuracy, production quality)
- Views / clicks / forwards
- Readability of the content
- Media or personal branding
- Social media campaigns or activities
2. DApps
- Value-added to the ecosystem (for example: whether you DApp is an interesting and useful new DApp or just a plain copy of a DApp that already exists on IOST)
- Daily active users
- Daily trading volume
3. Integrations (wallet, exchange, browser, etc.)
- Value-added to the ecosystem (whether it is an interesting and useful new integration or a copy of an existing one)
- Downloads / views
- Daily active users
- Token transaction volume
4. Events / Meetups / Hackathons
- Event quality (content, theme, speakers, etc.)
- The number of participants
- Media reports and distribution
5. Community
- Community activities or campaigns
- Community user base and growth
- Social media activities or campaigns
- IOST community support and interaction
6. Compulsory duties
- Join at least two IOST node conferences every quarter
- Retweeting or distributing at least 6 IOST articles in your community.
If a node fails to fulfill the above duties, its contribution tier will be downgraded by one.
F. How to Submit a Contribution Report
Contribution reports should be submitted via: https://iost-eng.typeform.com/to/V3dFPM
Each contribution must be tagged in a numbered list with a clear description. Each contribution should contain as much verifiable documentation as possible. Any unverifiable contribution will not be included in the contribution evaluation ranking.
Each contribution report will only include the contributions made within the past three months. For example, the DAU of a DApp should only describe the growth during the last 3 months.
G. Contribution Evaluation & Ranking
The IOS Foundation will evaluate the contribution reports based on the criteria mentioned above. There are 5 tiers in total, the spots in the 1st to 4th tier will be limited whereas tier 5 has unlimited spots.
H. Contribution rewards by tiers
Regardless of the category, node partners of the same tier will receive the same amount of rewards. The annual contribution rewards pool of 210 million IOST will be divided into tiers and their corresponding rewards as follows:
Partner nodes in the same tier will get the same amount of rewards;
*Rewards for one node= total tier reward/number of partner nodes in the tier.
Taking a 91-day quarter as an example, say all spots in tier 1 to 4 are filled, with 20 nodes in tier 5, totaling 102 nodes. The results will be: (Keep in mind that in tier 1 to 4, as every spot is taken in the example below, the rewards shown is the minimum you can get.)
I. Fairness and impartiality of the evaluation
The contribution evaluation and ranking of partner nodes will be jointly carried out by 10 members in different sectors from the IOS Foundation. Initial ranking will be made first and any partner node can then open a dispute.
Join The IOST Community!
IOST’s Partner Program is widely praised as the globally leading staking program by numerous blockchain research institutions with attractive returns, low risk and ease of use are some of the key program highlights. To learn more and participate in one of the world’s top staking program, please visit:
https://www.iostabc.com/producers
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
- Official Announcement Channel: https://t.me/iost_announcements
- IOST Official Twitter: https://twitter.com/IOStoken
- Terry Wang Twitter: https://twitter.com/terrence_iost
- Jimmy Zhong Twitter: https://twitter.com/jimmyzhong_iost
- Slack Developer Community: https://invite.iost.io
- Reddit: https://www.reddit.com/r/IOStoken
- Facebook Page: https://www.facebook.com/IOSTofficial/
- Facebook Group: http://bit.ly/IOST-FB-Group
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