Staking 2.0: Taking SPoS One Step Forward to Enjoy Hassle-free Staking in the VSYS Ecosystem
18 November — V SYSTEMS’ Supernode Proof of Stake (SPoS) was designed with users in mind to encourage a simple and fast staking process. As we continue to lay a foundation for blockchain mass adoption, we are introducing Staking 2.0 which allows all V SYSTEMS users to join the first wave of applications powered by V SYSTEMS. VSYS holders will be able to get not only VSYS as rewards but also other tokens built on the V SYSTEMS mainnet.
SPoS consensus mechanism is the backbone of the V SYSTEMS blockchain. As we keep advancing the scalability of the network, we continue to explore ways to support the growth of the ecosystem and encourage active participation in the blockchain network through staking.
Staking 2.0 opens up possibilities for VSYS coin holders to participate in the development of the applications built on V SYSTEMS, realizing the principal of “Stake as Power” in the latest revolutionary PoS.
First Wave of V SYSTEMS-Powered Applications
Our first project Tachyon Protocol will leverage 50 million X-VPN’s existing global users to become one of the leading decentralized internet protocols. As its IPX token will be available soon, we welcome the VSYS community to join in fruitful collaboration with the project through our Staking 2.0 initiative.
In addition to the Tachyon Protocol, the V SYSTEMS team is also working with xCurrency and a Fortune 500 real estate group on DeFi application development. We are excited to bring on board more community-facing and enterprise-level projects to cultivate a robust DeFi ecosystem.
A Simple Guide to Staking 2.0
1. A portion of V SYSTEMS-powered tokens will be allocated to reward VSYS users who participate in staking
2. The system will distribute the pool of tokens to supernodes daily, for a specific period (depending on the number of tokens)
3. Supernodes will allocate the tokens to their community members according to the default rate/ rule they set for the VSYS reward
Learn More about Tachyon Protocol and IPX Token
Details of VSYS x IPX Staking
10% of IPX tokens (100 million IPX) is allocated for VSYS Staking 2.0
Procedures
The system will evenly distribute the VSYS and IPX rewards to supernodes on a daily basis, for a total of 2 years.
A = Total amount of IPX token that the reward system generates daily = 100 million/(365*2)
B = Amount of IPX tokens each supernode gets on a daily basis = A/total number of supernodes (it includes operating loss during the minting of blocks)
Proposed reward distribution scheme for supernodes (Daily settlement)
X = Total amount of VSYS coins the holder leases to the supernode
Y = Total amount of VSYS coins the supernode holds
Z = IPX minting commission rate for the supernode
The total amount of IPX tokens the VSYS coin holder will be rewarded
= B*(1-Z)*(X/Y)
About V SYSTEMS
V SYSTEMS is a general-purpose blockchain database for decentralized applications. Led by Chief Architect Sunny King, the V SYSTEMS blockchain has implemented his new innovative consensus algorithm — Supernode Proof of Stake (SPoS). V SYSTEMS aims to deliver decentralized database cloud technology that is scalable and durable, with high finality, performance, and the highest resistance to 51% attacks.
About Tachyon Protocol
Tachyon Protocol is a decentralized internet protocol co-launched by V SYSTEMS and X-VPN that aims to create a trusted, stable, fast, reliable, and transparent decentralized information network. By implementing techniques from DHT, blockchain, UDP, and encryption, Tachyon Protocol is committed to building the next-generation TCP/IP that can provide a self-sufficient internet environment with high security, untraceability, availability, and maximum network speed.
Stay Connected
Remember to follow us on the below platforms to stay up-to-date with our latest updates and announcements.
Twitter: https://twitter.com/VSYSCoin
Telegram:https://t.me/VSYSOfficialGroup
Medium:https://medium.com/vsystems
YouTube: shorturl.at/mxX09
Reddit:https://www.reddit.com/r/V_SYSTEMS/
Github: https://github.com/virtualeconomy/v-systems
Other Useful Links
VSYS Official Website: https://www.v.systems
Supernode Ranklist: https://vsysrate.com/
VSYS Blockchain Explorer: https://explorer.v.systems/
