Theta Network
Published in

Theta Network

Theta Guardian Node staking is now live on Theta Mainnet 2.0

The Theta Network can’t run without a decentralized community of stakeholders all working toward making the network secure, efficient, and useful. Now Theta takes the next step toward that vision, as Guardian Node (GN) staking has been enabled on Theta Mainnet 2.0. Theta supporters from more than 50 countries running 509 Guardian Nodes will now transition to Theta Mainnet 2.0, implementing Theta protocol’s Multi-BFT consensus for the first time, and earning TFUEL tokens for their network contributions. The total THETA staked on Theta Mainnet 2.0 is expected to reach more than 450m THETA.

Theta Multi-BFT Consensus

Theta Mainnet 2.0 is a major update to the Theta blockchain, introducing Theta’s novel Multi-BFT Consensus. Community-run Guardian Nodes will now take a direct role in block production, finalizing blocks at regular 100 block intervals and making up a second layer of defense after the Validator Nodes that produce each block. With Guardian Nodes joining the network and staking, no single group or entity will control the majority of THETA staked, marking a significant milestone toward Theta’s decentralization.

Guardian Nodes will join the existing Enterprise Validator Nodes running on Theta Mainnet 2.0, run by Google, Blockchain Ventures, gumi Cryptos, Binance.

Want to get run a Guardian Node and begin staking your THETA? Here are all the details you need to know:

What are the requirements to run a Guardian Node?

Running a Guardian Node is a critical part of Theta blockchain consensus. Starting Wednesday June 3rd, you can participate in running a Guardian Node on Theta Mainnet 2.0 if you meet the following requirements:

Minimum token amount to stake: 10,000 THETA tokens
Internet speed: 5Mbps+ up and down
CPU: 4 cores or more
Memory: 8 GBytes or more

If you meet all these requirements, you can get started with the Guardian Node setup guide.

You can check out the open sourced code for Guardian Nodes on our GitHub, or track the new nodes and staking on the Theta block explorer.

How do I get started as new user?

Start with the Guardian Node setup guide on the Theta GitHub. There are options to stake via a Windows/Mac/Linux app, or directly from CLI if you prefer. Users will also have the option of staking via Google Cloud Platform, the launch partner of Theta Mainnet 2.0.

I’m an existing GN user running on Theta testnet, how do I move to Mainnet 2.0?

You can simply stop running your existing GN on testnet, and follow the same instructions as new users to set up your new GN on Theta Mainnet 2.0. It is not necessary to unstake your testnet_sapphire tokens. Your TFUEL rewards from testnet will be paid out to your Theta mainnet wallet by end of week, June 5th.

What is the incentive for running a Guardian Node and staking my THETA?

Guardian Nodes earn a share of all the new Theta Fuel (TFUEL) generated on Theta blockchain, which is 250m annually. The proportion of TFUEL you earn as a GN depends on how much THETA you have staked relative to the total number of THETA. As an example, if you stake 100,000 THETA and the total network has 300m THETA stake, you are staking 0.033% of the THETA total staked to the network. That would translate into your node earning about 0.264 TFUEL per 100 block period, or 6,944 TFUEL monthly.

((100,000 THETA staked / 300,000,000 total THETA stake) x 250,000,000 TFUEL annually / 12 = 6,944 TFUEL

At current prices the staking annual ROI is slightly under 3%, however this figure can adjust continuously as both THETA and TFUEL are traded on exchanges. The current ROI at any given time will depend on the ratio of THETA price to TFUEL price.

For more info on GN earnings, community-run sites like Guardian Monitor are tracking staking on Theta testnet and provide real-time earnings calculations.

How long do I need to stake for / is there a lockup period?

There is no fixed lockup period for staking to your Guardian Node, so you can choose to stop staking your THETA tokens at any time. However, from the point you unstake your tokens, there is a ~60 hour withdrawal period before your tokens will be available back in your wallet.

Can I stake from a hardware wallet? Is it safe to stake my THETA tokens to a node?

You can stake your tokens from any type of Theta wallet, whether on the Theta web wallet, a Theta iOS/Android wallet, or on Ledger/Trezor via web wallet.

It is safe to stake your tokens as long as you keep your existing Theta wallet safe. The way staking is designed on Theta protocol, tokens staked to a Guardian Node can only be returned to the wallet that originally staked them, even if a node is compromised. This is by design, so that users can stake from a secure hardware wallet to a Guardian Node they are running on a desktop or cloud environment which is less secure. Even if your computer or cloud instance you are running the Guardian Node on is hacked, the only thing an attacker could do is send your tokens back to your wallet. So as long as you keep your wallet safe, just as you do now, staking is not anymore risky.

What if I don’t have the minimum stake of 10,000 THETA?

We will continue to evaluate this minimum figure to establish the best balance of network security and maximizing the number of tokens staked. For now, you can also look into options with no minimum for staking, such as the GPool staking pool or Binance staking.

Any other questions?

You can always contact the Theta support team at support@thetatoken.org with any questions.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store