Pion Updates: 3X Boosting, bonPION Transfer & Node Delegation

Key Developments for Pion Node Operators

Published in

Muon

3 min readJul 5, 2024

Over the last 8 months, 1,600+ Pion node operators have been running their nodes and earning rewards. Here are updates about $PION’s new developments for our node operators.

Enabling 3X Boosting

To encourage node operators in upgrading to higher tiers, a 2X boosting has been active since Pion’s launch. The 2x boosting will stop on July 11th and be replaced by a limited-time 3x boosting. This means node operators will receive three times the PION tokens they stake as bonPION, whether the tokens come from rewards or the market.

The 3X boosting will end through a phase-out process starting on September 11 with a daily reduction of about 3% (-0.1X every day). So the boosting level will be 2.9X on September 12, 2.8X on September 13 and 2.7X on September 14, so on and so forth. The Boosting will end on October 10.

For instance, imagine your node power is 40,000 and own 1,000 Pions. If you stake them on the 10th of September, 3,000 units will be added to your bonPION NFT and your node power will be 43,000. But if you lock the same amount on September 21st, your power will be 42,000; on October 11th, it will be 41,000.

BonPION Transfer

On July 11th, the transfer of bonPION NFTs will also be activated and bonPion owners can transfer that to another person’s wallet, that is, they can sell their bonPION NFTs.

Please note that to transfer their bonPION, node operators must first switch the node off and wait a one-week lock period before the NFT can be transferred.

However, those who own bonPION but have not run a node can transfer it to current operators, although we strongly urge them to use it to run a node.

Enabling Tier 4 (PoA)

Pion Network is made up of 4 tiers, each with a different stake, impact, and share of each subnet.

Categorizing nodes into tiers is a security measure. Nodes with higher tiers need to have staked a higher amount and have passed a stricter verification method. In return, they have a higher share of a subnet and a higher chance of being selected in subnets. (Learn more about Rotating Random Subnets.) In fact, a higher-level node exercises a stronger influence in the network and earns more rewards. Pion Node Tiers Article

Tiers 1 to 3 have already been enabled, and it is now time to enable the last and most important tier. To qualify for Tier 4, node operators must meet the following conditions.

Have 250K bonPION.
Go through KYC procedures in an online call.
Sign a legal contract.

A typeform will be shared in the next few days for eligible operators to apply for this Tier.

Node Delegation

Another interesting feature launching in the next few months is node delegation. In the first stage, a bonPION holder can have the Muon team run their node in return for a portion of the rewards or a certain fee (The details are still being discussed.). After a few months, delegating nodes to other operators will be enabled.

The Muon team is dedicated to creating value for node operators who are contributing to the long-term development and success of Pion network. Stay tuned for more updates.

Pion is the Muon ecosystem’s Canary and first mainnet. It is a chain-independent and stateless DON (Decentralized Oracle Network) that enables dApps to make their off-chain components decentralized. By incorporating Pion (by Muon), the manner in which decentralized applications store, process, and access data will be fundamentally transformed.

Run a Pion node.