IOST Node Program | Servi & Partner Node Registration
*Updated on December 2020
IOST is a next-generation, user and developer-friendly blockchain application protocol dedicated to providing developers, entrepreneurs and enterprises with a platform to launch DApps, tokens, games, services and more through the establishment of a decentralized, permissionless public blockchain network and ecosystem.
One of the most important aspects of the IOST network is to expand and develop our ecosystem. We achieve this by highly rewarding all contributors to the IOST ecosystem via the Servi & Node partner program which pays out a total of 840 Million IOST tokens each year.
We encourage any and all people, teams, organisations, and communities to join the IOST ecosystem as a Servi or Partner Node. Whether you are a developer, marketer, community member, evangelist, investor or anything else; if you want to be a part of the IOST ecosystem, you can join our program and earn rewards for your contribution. There is no cost to you or technical knowledge required and you can share in the IOST annual reward pool and be rewarded for your contributions.
Apply here!
Node Rewards
What Are The Rewards Given Out Every Year?
As of Q4 2020, The Annual Reward Pool of 840 Million IOST is distributed as follows:
The total size of the IOST Reward Pool is 840 Million IOST, of which:
- 420 Million IOST comes from the IOST Ecosystem Fund, and
- 420 Million IOST comes from Token Issuance.
For the IOST Ecosystem Fund, rewards are paid quarterly to nodes, based on:
- contribution to the ecosystem (420 Million IOST).
For Token Issuance Fund, rewards are paid daily, based on:
- the share of votes you receive (210 Million IOST)
- the number of blocks produced (210 Million IOST).
How Are Rewards Split between Voters and Nodes?
Daily election rewards are split 50:50 between Nodes and their Voters. The remaining rewards are distributed to nodes who have the flexibility to decide how they want to share with their voters.
How to start earning rewards?
To start earning rewards you must reach at least 2.1 million votes from voters or from yourself. At this point, you will start earning daily rewards based on your share of total votes cast on the network and also earn quarterly rewards from the contribution rewards system. The contribution rewards system was designed so that even nodes that only reach the minimum of 2.1 million votes can still be in the top 20% of earners from this reward pool. Based on the current token price, the top 20% of contributors would earn roughly 120k USD per year from this portion of the rewards alone.
How to get votes?
There are many ways to encourage voters to vote for you or simply vote for yourself with your own tokens. We have seen many interesting and innovative strategies for this but being present in the community and making a name for yourself is a great start. A strong listing page (about us and statement) is also important as well as promoting IOST to the crypto community and beyond. For nodes that make significant contributions to the ecosystem, we can also help you get votes, feel free to get in touch to discuss. It is very profitable for voters to vote for nodes that contribute to the ecosystem (especially when you have a small amount of votes), so token holder want to vote, you just need to encourage them to choose to vote for you!
How to Register
To apply as a Servi or Partner Node, please use the form here and follow the guide below. Please take care to submit all required information correctly as failure to do so will result in your registration not being processed.
Requirements:
- You must create a mainnet account name registered on the IOST mainnet. Mainnet accounts can be created on various platforms including IOSTABC, TokenPocket, Huobi Wallet, PureWallet and more.
- You must have a valid email address and an active telegram account which which is regularly checked.
- You must have at least one social channel e.g telegram group, discord channel, Facebook group etc.
- You must have a logo for your node with aspect ratio 1:1, at least 500px in png or jpeg format.
- You must have an “about you” and a “statement” of how you will contribute to the IOST ecosystem.
Other supporting wallets: TokenPocket: Announcement — Cobo Wallet: Announcement — Huobi Wallet: Announcement
Servi Node versus Partner Node
During registration, you will be asked if you want to be a Servi or Partner node. Initially all new nodes with be “Partner Nodes”. You can then transition to a Servi Node by following this guide.
A Partner Node is a node that does not produce blocks and is meant for non-technical users who wish to contribute to the ecosystem and earn rewards. There is no setup or maintenance required by you. It is the easiest way to earn from contributing to the ecosystem and recommended for marketers, websites, investors, evangelists etc. You earn rewards based on your share of votes as well as your contribution to the ecosystem in which ever way you choose.
A Servi Node, with at least 10M votes and being a constant contributor to IOST, is a “full” node that stores the full transaction history of the IOST blockchain, produces blocks and validates transactions. This requires a moderately powerful server and large disk space. It must stay up to date with the current IOST protocol version and remain stable. Servi Nodes are rewarded for this by earning from the “Block Production” reward pool (25% of total rewards). Opting to be a Servi Node is recommended for those with technical knowledge of servers, coding and blockchain protocols.
For more info on Servi Node requirements and on-boarding please read this guide.
Minimum requirements: AWS c5.2xlarge (8-core CPU with 16GB RAM), with at least 5TB storage for the first year or equivalent. Estimated $500 usd per month rental cost.
More Info
For more detailed information on various topics please check out the other articles on our Medium or the links below. Please apply for node status as soon as possible and join our growing ecosystem!
Apply here!
