Rangers Protocol
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Rangers Protocol

Information List for Rangers Protocol Ecological Nodes

Rangers Protocol is a Metaverse blockchain infrastructure. Founded in 2018, Rangers Protocol has gone through three years of update and iteration and finally developed into a comprehensive infrastructure that supports NFT and complex application deployment and supports data and asset cross-chain. On December 7, 2021, Rangers Protocol launched its Mainnet and produced a significant founding block.

Throughout 2021, Rangers Protocol has already produced a prototype on the development blueprint:

✔️ May 10, 2021, Rangers Protocol received $1.2 million seed round financing;

✔️ June 15, 2021, received $2.5 million in private equity round financing, with a valuation of $63 million;

✔️ July 19, 2021, released the first testnet version, opened the application test function, and successfully transplanted the first dapp — the DeFi protocol BlueStone;

✔️ October 7, 2021, completed the $420,000 IDO and officially released the ecological token $RPG;

✔️ November 4, 2021, Robin Testnet released, dapp deployment permissions and NFT cross-chain testing opened, and taps and block explorers provided;

✔️ December 7, 2021, the mainnet was officially launched.

However, it is just the beginning. As the next step, Rangers Protocol officially enters a new stage: playing the role of infrastructure and providing solid technical support for Metaverse. Nodes will become one of the essential roles of Rangers Protocol.

This article provides a list of information for all users who want to become Rangers Protocol nodes, including the rights and obligations of the nodes, the governance rules, and finally, how to become a node.

The detailed document content corresponding to this article is:

  1. “Development Documentation” https://doc.rangersprotocol.com/
  2. “Rangers Protocol White Paper” Token Design and Governance Mechanism Sectionshttps://www.rangersprotocol.com/pdf/RangersProtocolWhitepaper.pdf

What Is an Ecological Node?

The nodes mentioned here refer to the ecological nodes of Rangers Protocol, which are mainly divided into proposal nodes and verification nodes. They need to undertake certain obligations: the proposal node must generate witness units, continue staking, and select verification nodes. The verification node needs to complete verifying the proposal and forming a group signature. At the same time, they also enjoy node rights by obtaining RPG (Rangers Protocol Gas) revenue. Under the constraints of the governance mechanism, proposal nodes and verification nodes need to participate in the daily governance of Rangers Protocol.

Nodes’ Responsibilities in Block Production

Proposal nodes and verification nodes assume different responsibilities during the block generation process. The proposal node is mainly responsible for packaging transactions, generating candidate blocks, and submitting them to the corresponding verification group. The verification node is primarily accountable for verifying candidate blocks. The overall process is: the proposal node (proposal group) initiates a proposal and is handed over to the verification node (verification group). After all individual verifications complete the signature verification, a group signature is formed, and the block is allowed to be produced and broadcast. Thus, the block is completed.

To understand the specific role of the proposal and verification nodes in the block generation process, please read the Rangers Protocol development document:

https://doc.rangersprotocol.com/getting-start.html#proposal-process

https://doc.rangersprotocol.com/getting-start.html#validation-process

Ecological Nodes’ Rewards

After the node generates the block, it will receive the corresponding reward according to the distribution ratio, which is related to the token economy of the Rangers Protocol. RPG is the Ecological Token of Rangers Protocol, with a total circulation of 21 million. RPG has a scientific release mechanism. The ecological node follows the principle of “release 8% of the remaining amount every 180 days” to ensure that both the proposal node and the verification node can obtain long-term and stable income.

In the reward distribution of the entire token economy, the rewards of ecological nodes account for 49% of the total block rewards. Among them, the ecological node rewards of Rangers Engine accounted for 70%, and the ecological node rewards of Rangers Connector (after chaining) accounted for 30%. At this stage, we mainly explain the ecological community rewards of Rangers Engine. In the profit distribution of the Rangers Engine part, the proposal node rewards account for 70%, and the verification node rewards account for 30%.

We have prepared a simulated Rangers Engine node revenue calculation example for you:

  • Nodes Revenue Calculation Formula:

ARP (180 days) ≈ Current release amount / (average stake amount of each node*number of nodes) * 100%

  • The first-phase annualized income for the proposal node is calculated as follows:

The first 180 days:

Current release amount of proposal nodes = 403,368 RPG

(The calculation formula for the first phase of the proposal node’s release is: 21,000,000*49%*8%*70%*70%=403,368)

The average stake amount of each proposal node = 10,000 RPG

Number of proposal nodes = 20

APR (180 days) ≈ 403,368 / (10,000*20) * 100% = 201.68%

  • The first-phase annualized income for the verification node is calculated as follows:

Current release amount of verification nodes = 172,872 RPG

(The formula for calculating the release amount of the verification node in the first phase is: 21,000,000*49%*8%*70%*30%=172,872)

The average stake amount of each verification node = 1,000 RPG

Number of verification nodes = 100

APR (180 days) ≈ 172,872 / (1000*100) * 100% = 172.87%

*The rate of return will change based on the real-time stake and nodes status

Daily Governance Work of Ecological Nodes

In Rangers Protocol’s governance mechanism, the roles involved in daily governance are governance nodes, currency holders, and core developers. The participation of proposal nodes and verification nodes in daily governance work is mainly reflected in the part of governance nodes.

Both proposal nodes and verification nodes can be candidates for governance nodes. Other token holders can delegate their tokens to governance node candidates. The system will rank the candidates according to their total equity (staking + delegation), and the top 200 candidates will be elected as governance nodes. The governance node is mainly responsible for initiating proposals (non-referendum), voting on referendum and non-referendum proposals, and seconding proposals.

Rangers Protocol has designed a reward and punishment mechanism to constrain the behavior of nodes. The rewards for nodes mainly include proposal rewards and voting rewards. Proposal rewards will be automatically distributed to the account that initiated the proposal after the proposal is voted on; voting rewards are uniformly distributed to all voting accounts at the end of the proposal voting. Of course, dishonest nodes, inaction, or malicious behavior will be punished. The punishment method cancels the proposal node or verification node’s roles and imposes a specific penalty for the staked token.

How to Become an Ecological Node?

So, how to apply to become a node of Rangers Protocol?

To apply to become a proposal node and verification node, you first need to stake a certain amount of RPG. The application of the proposal node requires you to stake at least 2000 RPG; the verification node requires you to stake at least 400 RPG. After the stake, the program can be run according to the application process in the “Development Documents”:

Apply to become a proposal node: Process of applying to become a proposal node

Apply to become an authentication node: Process of applying to become a verification node

Please note that the first batch of proposal nodes of Rangers Protocol will be generated by the foundation’s directional invitation, and the directional invitation objects are ecological co-builders. Subsequent proposal nodes will be expanded and re-elected through community voting. All token holders can freely join the Rangers Protocol verification network and stake a certain amount of tokens for verification nodes. Rangers Protocol provides users with several ways to become a verification node to facilitate user operations. The specific content will be announced in later articles. Please follow us on Twitter for more timely information.

About Rangers Protocol

Rangers Protocol is a Metaverse blockchain infrastructure. It is a high-performance engine for complex development and data migration. Rangers Protocol is fully compatible with Ethereum, professionally supports NFT and complex applications, and integrates and expands cross-chain, NFT, EVM, and distributed network protocols.

Website | Telegram | Medium | Twitter | Discord | GitBook | Linktree

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Blockchain infrastructure that professionally supports NFT and other complex applications

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Rangers Protocol

Rangers Protocol

Metaverse blockchain infrastructure that professionally supports NFT and other complex applications Incubated by @MIXMARVELGAME

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