OntologyNetwork
Published in

OntologyNetwork

FAQ: Ontology New Governance and Staking Economic Model

Ontology Triones Node Operation

How much do I need to own my own Ontology node?

Ontology has lowered the minimum stake requirement to become a candidate node from 100,000 ONT to 10,000 ONT after July 7.

Therefore, it only takes 10,000 ONT and 500 ONG to start running your own Ontology node under the new governance and staking economy mode.

What are the hardware requirements for Triones node deployment?

  • 8C / 32G/ 500GB
  • Fixed IP address, a stable connection with AWS and Google Cloud in North America

How to find the latest status of all nodes?

You can check the latest status of Ontology Triones nodes and its annual yield by visiting our official node website here.

Are there any guides or tutorials I can follow to deploy or operate a node?

You can find all the latest nodes related guides and announcements on our Telegram Triones Announcements channel.

How to calculate the node staking incentive?

You can following the staking incentive calculation guide to calculating the incentives for your nodes or the incentives you earn as a staker.

Is deploying the hardware node necessary to start a candidate node?

For now, it is not compulsory to deploy the hardware node. We are working on slash regulations to build up a more healthy network environment. The nodes who do not deploy the hardware may be fined. Once there is a clearer guideline, we will announce it on our social channels and communities.

Is the initial stake also counted as receiving 90% of the rewards?

Based on our previous governance vote results, the Ontology team has accepted the proposal and allows nodes to set 2 separate incentive distribution rates after Ontology’s MainNet Block Height 9,400,000.

Let’s say you have 10,000 ONT as initial position and the users add 20,000 more ONT, for a total of 30,000 ONT stake. You set the fee-sharing ratio for initial staking at 90% and the fee-sharing ratio for user staking at 40%. Then, the node (you) will receive 90% of the transactions fees and released ONG yield of the total amount of 10,000 ONT (your own initial stake), and receive 40% of the transaction fees and released ONG yield of 20,000 ONT (the total amount of ONT staked by users).

Staking on Ontology

What’s the minimum staking requirements to stake on Ontology?

In order to allow more stakers to participate and earn ONG rewards, the minimum stake requirements has been lowered from 500 ONT to 1 ONT.

Why there is an increase in ONG network fees?

With the new governance and staking economic model, the ONG fee per transaction will be increased from 0.01 ONG to 0.05 ONG (five-fold), which gives sakers a much higher chance to earn more from network fees.

Why the staking yield of users fluctuates in real-time?

The staking yield of users is affected by:

  • network operation & staking status
  • fee-sharing ratio set by the nodes
  • ONT and ONG price

Why am I not receiving unbound ONG on ONTO/OWallet any more?

The unreleased ONG rewards are now only shared amongst stakers, instead of both stakers and non-stakers.

How is it possible to get more released ONG for the same amount when staking in an existing candidate node, compared to when running your own candidate node?

Generally, running your own candidate node can earn more rewards than staking the same amount in an existing node. Staking a small amount of ONT will not affect the yield rate of each node, but once there is a large amount of ONT staked into one specific node, it may reduce the rate significantly. Since we cannot predict other stakers’ actions, we cannot give an absolute answer on which is a better investment: become a node or just stake.

The yield of staking or node rewards are affected by:

  1. 500 ONG transaction fees required to start a node
  2. The yield rate is changing all the time based on the increase or decrease of the stake amount
  3. The nodes may change their fee-sharing ratio

We would recommend to calculate towards the end of each staking round and make your decision as it is the closest moment to align your expected yield rate shown on the calculator.

Stake now with ONTO or simply sign up to run your own Ontology Node on OWallet.

Should you have any further questions, please contact us at contact@ont.io. We will continue to update more FAQs in this article.

--

--

--

Ontology is a high performance, open source blockchain specializing in digital identity and data. ONTO: http://onto.app/downloadpage/TW Telegram: http://t.me/OntologyNetwork

Recommended from Medium

The silent super power of adaptability

IPL z/OS without an automation or an HMC .

Confident enough to face your interview?

Golang Community Spaces That You Need to Know!

More Power to the Shields!!

My Web Development Journey

AWS IoT Hands-On — A Practical Tutorial

Setting up SSH tunnelling for your Jupyter and PyCharm

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
The Ontology Team

The Ontology Team

Active project domain: https://ont.io/

More from Medium

The DIA DAO: A framework for co-creation and open, decentralised work.

SolStreet March Roundup

Expanding Strategic Partnership with Octave Advisory to Further Improve Blockchain Space

Datachain and JCB Successfully Validate PvP Settlements to Exchange Multiple Digital Currencies and…

Datachain and JCB Successfully Validate PvP Settlements to Exchange Multiple Digital Currencies and Published a Concept Paper on Interoperability in the Next-Generation Finance.