Help Neutrino to Decentralize USDN Reserves and Make $12K/year

Dear crypto community, the Neutrino team introduces phase one* of the program that will be a big step towards global decentralization!

Right now all the USDN reserves (about 40 million WAVES) are leased to 2 generating nodes. Half of the generated WAVES leasing profit is sent as a rewards to USDN stakers, another half is sent to the smart contract to increase the USDN reserves.

We want to improve and decentralize this setup, so we are now looking for crypto enthusiasts who are willing to run their own nodes for the needs of Neutrino to improve reliability of the system and make their own interest.

According to pywaves stats a node that has 1 million WAVES in leasing generates 19 blocks per day. That is about 19*6 (generator’s rewards per block) = 114 WAVES per day. At the moment of the writing this article WAVES price is $6.2, this means that a node generates about 114 * 365 * 6.20 = $257,982.99 total leasing reward per year. The participants of our program will make 5% of the total leasing reward, this means that you can make 257,982.00 * 0.05 = $12,899.10 per year.
Virtual server costs about $60 per month or 12*60=$720 per year. So, your profit is $12,179.10. The table below shows calculated profit depending on the leased amount:

Later on we will introduce phase two* of the program that will provide the Neutrino community the ability to govern the setup by means of voting.

Phase one

Run your own node for the needs of Neutrino to participate in the program. The Neutrino reserves (40 million WAVES) will be distributed equally among all the participants.

General conditions:

• The participants will be added gradually, one-by-one, not all at a time.
• The total number of the participants (participants_num) can not exceed max_participants = 80
• At the beginning of the program every participant’s node will get 1 million WAVES in leasing. However, the leasing amount will be changed in the future and it depends on the total number of the participants and can be defined as leasing_amount = min(1mln, neutrino_reserves_waves_amount / participants_num). This means that in the future your node’s generating balance can become less that 1 million.
• The participants will be combined in groups (10 addresses in each group) to simplify the management of the leased amounts. For example, if there is a big swap of 1 million WAVES to USDN, then the amount of WAVES will be distributed proportionally among a group with the smallest group’s balance, and on the other hand, for the USDN→WAVES swaps that involve unleasing big amounts of WAVES, a group of nodes with the biggest balance will be selected and the amount will be proportionally unleased from the nodes of the group.

Neutrino team will manually lease the reserves to the nodes of the participants that meet the following requirements:

• Your node must be new. Run it from scratch.
• Your node must be reliable and ready to sustainably generate blocks. The node’s performance will be controlled by metrics similar to performance rating on pywaves. Recommended system requirements.
• Your node must have REST API enabled, so that we can verify it when you apply. When you receive the leased amount from the Neutrino team you can then disable REST API.
• You must execute invoke transaction (method name = “submitApplication”) on behalf of your node address to make refundable security deposit (300 WAVES) to dapp address. See json example. Confirm your security deposit by entering the invoke transaction ID in the program application form. If you want to quit the program you must warn us one week in advance to return your security deposit.
• You must execute invoke transaction (method name = “distributeMinerReward”) on behalf of your node at least once every 24 hours (or more frequently) to distribute the amount of WAVES generated by your node. See json example. In the transaction you specify the generated amount, the dapp address and your beneficiary address (the address where your profit will be sent). When you execute the transaction the generated amount will be automatically distributed, so that 95% of the amount will be sent to the Neutrino protocol while your interest (5%) will be sent to the beneficiary address that you specify. We recommend that you don’t lease your own WAVES to the node, because if you do so, you will have to send the most of the leasing profit to the Neutrino contract anyway.
• Your node must send no transactions other than the invoke transactions mentioned above. This means that your node may only receive incoming transactions but should never send a single outgoing one.

Please note that in case of violation of the rules of the program, the Neutrino team will exclude your node from the program. In this case you will lose your security deposit (300 WAVES) and your node will be deprived of the leased WAVES unilaterally.

Fill in this form to apply. We will review your application in 6 working days.

Phase two

In the near future, the process of adding/removing the nodes that hold Neutrino reserves will be completely decentralized by means of voting.
Adding/removing the nodes will affect the distribution of the reserves among the generating nodes.

Stay tuned for more details about Phase two in the next article…

Neutrino website: https://neutrino.at

Twitter: https://twitter.com/neutrino_proto

Telegram : https://t.me/neutrino_group