StorX Farm Node Minimum Staking Increment Model to Avoid $SRX Token Inflation

StorX Farm node minimum staking will be increasing as per the new incremental model, applicable from 10 December 2021, 06:00 UTC.

Storage providers called “Node farmers” on the StorX Network contribute towards a new decentralized, secure, private, and affordable storage. They get rewarded (in $SRX tokens) for adding Storage infrastructure and other related contributions to keep the network healthy.

With Farm storage Node Setup, farmers have to stake SRX Token. Minimum 10000 SRX tokens and a Maximum of 1 Million SRX tokens can be at stake to get rewarded up to approx 6%pa (Depends upon Node reputation and overall health) in SRX Token will be updated after hitting each milestone as per the incremental model.

Revision for SRX Token Staking Requirement to Setup Storage Nodes:

Based on the community feedback, StorX Network has decided to rework staking requirement for setting up of Storage Nodes. The threshold limit for revision is currently set upto 4000 Nodes.

The Minimum Staking Incremental model:

• If the total number of nodes reached 1000 nodes, the minimum staking increases to 1500 SRX.
• If the total number of nodes reached 1500 nodes, the minimum staking increases to 2000 SRX
• If the total number of nodes reached 2000 nodes, the minimum staking increases to 2500 SRX.
• If the total number of nodes reached 2500 nodes, the minimum staking increases to 3000 SRX
• If the total number of nodes reached 3000 nodes, the minimum staking increases to 3500 SRX
• If the total number of nodes reached 3500 nodes, the minimum staking increases to 4000 SRX

Post 4000 node, Minimum staking will be increasing as per the new incremental model, applicable from 10 December 2021, 06:00 UTC.

• If the total number of nodes reached 4000 nodes, the minimum staking increases to 10000 SRX.
• If the total number of nodes reached 4500 nodes, the minimum staking increases to 15000 SRX
• If the total number of nodes reached 5000 nodes, the minimum staking increases to 25000 SRX
• If the total number of nodes reached 5250 nodes, the minimum staking increases to 35000 SRX

The minimum requirements of staking upgrades only on increasing of the number of nodes and do not affect the decrease of nodes. Once the number of nodes count crosses the threshold the minimum requirement for staking will increase and does not affect if the number of nodes drops back to the threshold.

For example: if the count of nodes crosses 5000 the minimum will be 25000 $SRX which will not affect in case the number of nodes count decreases to 4000 or lesser.

Tips for maintaining a Good Node Reputation:
- Ensure Strong Cloud Infrastructure.
- Higher $SRX Stake adds value to “Good” Node Reputation.
- Ensure 100% uptime.
- Always ensure nodes maintain the latest software patch and OS updates.

Underperformance can lead to disqualification of nodes, which can lead to No ‘hosting and staking rewards’. Repeated low reputation can lead to a penalty; Staked SRX might be burned as a penalty as it may harm StorX Storage Network.

We welcome all the community’s feedback and thank you for your continuous support.

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