Announcing Delegator Reward Programme by PrithviDevs on the Akash Network
Hello Akashians,
We’re PrithviDevs and we’re announcing the Akash Delegator Reward Program where, the primary objective of this delegation program is to help delegators to engage more with the community, in addition to supporting smaller validators and network contributors.
Background
We’re a developer group, focused on building decentralized applications & contribute not only by providing web3 infrastructure but also add value by working with multiple networks & their communities. We have 2+years of experience in developing distributed applications, along with that we worked with most of the ecosystem projects like
- OmniFlix Network: NFT based p2p media network
- Comdex: Decentralized commodity exchange with maximizing transparency, efficiency, and immutability
… along with other independent projects.
This experience helped us to operate testnets, and mainnets of few projects, and based on this we started our journey towards exploring other networks within the ecosystem.
Journey with Akash
We closely follow and develop apps in the Cosmos community from the very beginning. We prioritized and believed in it even further in ~2018 when Greg Osuri tweeted about Jack Zampolin joining Akash.
We have gone through Akash Net’s technical details on Disco, Akash n/w at that time along with the idea of DeCloud.
This is where we started our journey with Akash Net in the Founders Challenge-1 and from there with the community support, we now run an active validator, the PrithviDevs Validator, securing Akash Net. This is our first network to participate as a mainnet validator.
Launch of the Delegator Reward Program
giving back to our community of supporters
Delegators are one of the key stakeholders that help secure the network and their active participation in governance, leads to spectacular community decisions leading the entire network to progressively decentralize.
Using this as the frame of reference, we decided to introduce the PrithviDevs Validator — Delegator Reward Program that will mutually benefit PrithviDevs Validator, our delegators & the wider Akash community. It will help delegators to earn extra rewards based on their delegation amount if they delegated to PrithviDevs.
The following differentiates PrithviDevs from other validators
For this, we as PrithviDevs launching a delegator reward programmer with 1.8% rewards of our validator.
- This means, our delegators will earn extra 1.8% rewards apart from their original delegation rewards (per block rewards, after the validator commission) per Year.
- Max rewards per delegator are 500AKT per Month
- The distribution of tokens will be the first week of the coming month.
- A 3months time period starts from March 1st, 2021.
Let us explain with an example:
Alice delegated to Prithvi 3000 AKT
Bob delegated to Prithvi 88,9705 AKT
Per day rewards earning of Alice: 3000 * 0.0049315 % = 0.148 AKT similarly
Per day rewards earning of Bob: 889705 * 0.0049315 % = 43.88 AKT,
the more you delegate, the more rewards you get.
rewards per month of Alice = 0.148 * 30 = 4.438 AKT
rewards per month of Bob = 43.88 * 30 = 1316.27 AKT
We send 4.438 AKT to Alice, 500 AKT to Bob (max delegation reward per month). As you see, the primary objective of this program is to mutually support validator and delegators.
Early rewards to delegators
After the Twitter post on 16th, we have received a huge response from our community, so for this reason we decided to give rewards to early delegators, who delegated between the 16th to 25th. They will receive the rewards (1.8% per year) from PrithviDevs based on their delegation amount. The distribution of early rewards to delegators on 27th Feb.
In addition to that, we provide a Monthly report about your everyday earning rewards and distribute the tokens on the 5th before 1500UTC of each month...
You can track your Monthly rewards through,
Sheet timezone follows GMT +5.30 Indian Standard Time
https://docs.google.com/spreadsheets/d/12I4LpXcZlBLHqBNbxZZ-3e4qQUeoSO1U2D2sQ_Lpe5Q/edit?usp=sharing
In the future, we will decide whether to extend or not and more innovative programs that will help both delegators and validators along with the community.
Finally, we hope this will help delegators/validators to actively contribute to the community towards decentralization.
Why are you waiting, delegate/re-delegate to PrithviDevs, earn more rewards?
Use this wonderful guide created by our friend Johnnie Red about how to delegate.
We are very happy to be part of the Akash Community, and we are very thankful to the Akash Network for the support of smaller validators like us, and others. And we hope it continues…
Regards,
Team PrithviDev
