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Amplitude Launches its Community Collator Program

Amplitude is launching its collator program that will provide an opportunity for community members to become an integral part of Amplitude & Pendulum infrastructure and play a major role in decentralizing traditional finance going forward. The collators will be earning up to 11% yearly rewards for running nodes and maintaining the network. Apply to become a collator and learn more about the program below.

Who is a collator?

Collators are the key members of the networks that maintain the network they take part in by running a node and are vital for any parachain infrastructure. They are essential for the decentralization and maintenance of the network infrastructure by

  • running nodes
  • receiving transactions
  • creating state transition proofs for relay chain validators

Who can become a collator?

Becoming a collator requires Linux systems administration skills, appropriate hardware or virtual infrastructure, and time for regular state monitoring.

Given that, anyone with sufficient technical knowledge can become a collator.

Learn more about the technical requirements and the installation instructions here.

Why join?

Running a node for Amplitude gives you an opportunity to become a vital infrastructural part of the Pendulum ecosystem early and support our mission of decentralizing traditional finance, and in return, be rewarded for it.

Amplitude collators will be earning 11% yearly return in $AMPE rewards for running a node.

How to apply

If you wish to become a collator for Amplitude, fill in this form specifying your motivation, experience level and contact information, and we will reach out to you.

If you have any questions or doubts, please let us know — we will support you in setting up the infrastructure and get you going.

Delegators

If you don’t want to run infrastructure but still want staking rewards, you can simply delegate your tokens to a collator. Anyone with AMPE tokens can become a delegator, or delegate their tokens to collator.

Amplitude uses the Limited Delegated Proof of Stake (LDPoS) as its consensus mechanism. In this system, collator nodes hold the data of the blockchain, collect transactions and build blocks.

Delegators can choose a collator to back with their stake, thus increasing the total stake on that collator. One collator can have a maximum of 25 delegators backing them, where delegators with higher stakes for one collator displace delegators with smaller amounts at stake for the same collator.

Staking with collators will be possible with 9% yearly return for staking tokens.

About Amplitude

Pioneering the internet of fiat. Amplitude is the sister network of Pendulum on Kusama. It will act as a testing ground for Pendulum applications and network parameters and be powered by the AMPE token.

About Pendulum

Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.

Keep your eyes on the Pendulum!

Twitter | Amplitude Twitter | Telegram Announcements | Telegram Community | Discord | Reddit

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Pendulum

Pendulum

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Traditional finance infrastructure blockchain. The missing link between fiat and DeFi. Limitless fiat. Decentralized future.