Announcement: Upgrade of Full Node Reward

Khun Sir
Khun Sir
Jan 3 · 2 min read

In order to attract VITE holders to run full nodes, and further improve the number of full nodes and the robustness of Vite network, we will upgrade the full node reward system, and modify the model to run full nodes.

Upgrade Time

January 7, 2020 (HK time)

Details

  • Users who run full nodes and stake at least 10,000 VITE will receive two type of rewards: uptime rewards and voting rewards
  • Users who run a full node without staking at least 10,000 VITE will no longer receive rewards

Descriptions

The total reward amount of full nodes will not be changed. For the previous full node rules, please check: https://medium.com/vitelabs/vite-supernodes-removed-full-node-reward-increased-377db41b3eb8

The rewards will be calculated as follows:

  • For example, users who run 10 nodes and stake 50,000 VITE will receive rewards of 5 full nodes and rewards of voting 50,000 VITE.
  • For example, users who run 10 full nodes and stake 200,000 VITE will receive rewards of 10 full nodes and rewards of voting 200,000 VITE.

Staking steps: Open https://x.vite.net, select the third tab on the left, and click on the full node page above to stake VITE (to go live on January 7).

Staking description: The staked VITE will be deposited into the smart contract and will automatically vote for the official SBP Vite_SBP03. The voting income will be automatically distributed to the source staking address on a daily basis with a 100% distribution rate.

More information about how to run a full node: https://vite.wiki/tutorial/node/install.html#what-is-gvite-node


Khun Sir

Written by

Khun Sir

Crypto enthusiast. Experienced in investment, business development, marketing, and community management.

Vite Labs

Vite Labs

Official blog for Vite, a new-generation public blockchain

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