Myria Public Node Sale starting on April 10: How to Prepare to Operate Myria Nodes
Myria Nodes are an essential part of the Myria ecosystem, contributing to its steady growth by keeping it secure and decentralized. With the Myria Node public sale drawing closer, Myria Nodes will finally be opened to the public.
Key dates:
- The Myria Public Node Sale will begin on April 10, a few days after the launch of the MYRIA token.
- The launch of support for Node software & VPS (Virtual Private Server) to operate a Myria Node will commence at a later date after the public sale.
If you want to actively participate in the Myria ecosystem and get rewarded for it, you’ll need to purchase a Myria Node license. The total supply of node licenses stands at 40,000 and the only way to buy one is with MYRIA tokens. In this article, we’ll cover how you can purchase a Myria Node license, how to operate a Myria Node, and what rewards you can receive for running a node.
How To Purchase a Myria Node
The Myria Node Sale gives participants an opportunity to purchase a Myria Node License. It’s this license that entitles the owner to contribute to the Myria ecosystem. In plain terms, having a Node license allows you to operate a Node for the Myria network and receive rewards in the form of digital assets (MYRIA Tokens and/or NFTs) as well as Myria governance rights.
Myria Node Licenses can only be purchased with MYRIA Tokens on the Myria website. To purchase a Node License, the following criteria must be met:
- The user must have a MetaMask Account
- The user must create a Myria Wallet & Account
- The user must deposit a sufficient amount of MYRIA tokens into their Myria Wallet
Since the number of licenses is limited to only 40,000, the price of a Myria Node license will gradually increase over time. This price increase will be offset by the ever-increasing utility and benefits of operating a Myria Node.
Read More About the Myria Node Sale & Pricing
How To Operate a Myria Node
Operating a Myria Node doesn’t require any special skills or access and consists of running a piece of specialized software. In many ways, it’s similar to operating any other application.
If the Myria Node application is open or running in the background, is linked to a Node License correctly and the device meets the required specifications then the Myria Node is considered operational (correctly supporting the network) and eligible for rewards.
To successfully run a Myria Node, license owners need a device that meets the following specifications:
- 4 GB RAM
- 2 CPU Cores
- 60 GB Disk Space
- An x86/X64 Processor
- A Stable Internet Connection
- Operating Systems (Win10, MacOS 10.10, Ubuntu 20.04)
If you already have a Myria Node license, then you can simply follow these steps to start running your Myria Node:
- Download the Myria Node Software (Windows / macOS) OR Download the Linux application package
- Retrieve an API Key for your Node license (this key represents your Node)
- Input key into the Myria Node software OR the Linux application package
- Ensure your Node is switched on (making the device available to the network)
- Check if your Myria Node is operational
Note that running a node before the official activation of the nodes won’t be possible.
Read More About Myria Node Operation
How To Receive Myria Node Rewards
The main incentive for users to run a node is the Myria Node rewards. These refer to the act of distributing MYRIA tokens to the ecosystem via the operations of Myria nodes. Over a third of the MYRIA tokens max supply (36%) is reserved for Node emissions.
The rewards for running a Myria Node are based on the following components:
- Adoption: to attract ecosystem supporters to own and operate nodes.
- Optimizing sustainability: to incentivize node operators for many years to come so they can continue to support and add value to the ecosystem.
- Increased scarcity over time: the distribution of MYRIA tokens will reduce over the years whilst the demand and utility of MYRIA are expected to increase. This strengthens the price of the token.
In order to be eligible for daily rewards, Myria node operators have to run their nodes for the minimum required time period (6 hours) in each cycle (24 hours). A point system is used to determine how MYRIA tokens will be distributed on a daily basis. Myria Node operators must run their nodes for 6 hours a day in order to receive their Myria node distribution point/s. Each Node license you own can receive a maximum of 1 point per cycle. If the Node didn’t operate for at least 6 hours, then it won’t receive any points.
Node Points Example: If a user owns 3 Myria Node Licenses and runs all 3 nodes for a minimum of 6 hours per cycle, then they’ll receive 3 points.
The amount of MYRIA rewards you receive may vary depending on the number of distributed points in the current cycle. To calculate the number of points each operator receives, Myria uses the following equation:
(Total MYRIA tokens to be distributed — based on Node Rewards halving schedule) / (Total number of points earned [all nodes]) * (Total number of points earned [Your nodes])
To put it in simpler terms, the lower the number of points generated by all nodes, the higher the MYRIA rewards for each operator will be.
Read More About Myria Node Rewards
MYRIA token rewards are automatically distributed to the node owner’s Myria wallet after 7 days. This is an incentive to stabilize the price of the MYRIA token and prevent constant sell pressure, keeping MYRIA within the ecosystem.
Node operators can claim their MYRIA tokens earlier but they’ll be subject to a claim fee, paid to a MYRIA Ecosystem bonus pool. A disincentive for withdrawing MYRIA from the ecosystem.
Read More About Myria Early Claim Fee
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