The Starfish Supernode’s Voter Reward Strategy
***Notice: As of September 17th, 2019 the lottery has been placed on hold. We plan to bring it back in the future when the value is more significant and with a revised drawing system. In the meantime, the 10% allocated for the lottery has been added to our base voter rewards.
Update: July 16th, 2019. Since we now have plenty of live data to base our rewards off of, we feel its appropriate to slightly raise our payouts as well as change our breakpoints. We’ve also changed our main payout percent to scale with our total vote percent, as well as change our lottery to a static percent.
As an Elastos DPoS supernode, the Starfish team will reward 55% to 80% of our total income to voters based upon the total vote percent we receive. We will have a scaling payout percent of 45% to 70%. Additionally will also be giving out a static lottery (10%) to one lucky address each month, which will be streamed live.
We believe that using the supernodes Total Vote Percent (TVP) is the fairest way to distribute rewards to voters due to the fact that most of the revenue that a supernode receives is allocated using this metric. 75% of the 462,000 ELA annual inflation allocated to supernodes is weighted based upon how many votes they receive relative to the other 96 active and standby nodes. The remaining 25% of the 462000 is split between the 36 active nodes, however since we cannot vote for the 12 Cyber Republic this portion of the income is not vote weighted, it is simply divided evenly between the 36 active nodes. With this information in mind you can begin too see why we chose to use the TVP as our determining factor and increase our scaling voter rewards by 10% if we are elected as an active supernode.
Our lottery will be a fun and engaging way to reward loyalty to voters. It will payout 10% of our supernodes revenue accumulated for an entire month. In order for an address to be eligible to partake in the lottery, it must have voted for us for the entire month. This is to avoid voters swapping last minute to join the lottery pool. Your chances of winning the lottery will also be based upon how many votes you are casting. The more votes you cast for us, the higher your chances of being selected as the winner. We will be providing transparency for the lottery so everyone can be confident it is being executed fairly. We have setup a YouTube channel to live stream each lottery every month.
On top of the lottery, we will pay out a scaling percentage of our ELA income to our voters automatically each month starting at 45% for up to 0.625% of the total vote percentage and will peak at 70% starting at 2.25%. We use ELABank to handle our daily payouts and thus a threshold is set in order to limit the impact on both ELABank and the Elastos Mainnet.
In addition to publishing our incentive plan, we have also updated ELAnodes.com to include a rewards calculator for voters and delegates. All of the election variables are adjustable so users can see exactly what kind profits they should expect under different scenarios. Lastly, it is worth noting that because we have no live data to verify our calculations, both the rewards calculator and our incentive plan could change should the Elastos foundation decide to alter the election process.
Thanks for reading,
