Another day, another milestone achieved. This time we have launched the Validator Staking on the Chronos Testnet. As we start preparing for the Mainnet update (Kratos) scheduled for August 31, 2020, it is important to onboard the potential validators and get them familiarized with the staking methodologies.
If you intend to run a Validator node for Mainnet (Kratos), please sign up here. This information is needed so that we can be in constant communication with you, should we need to go through any network upgrades. *You do not need to fill out the form if you are only Testing the Validator Staking on the Testnet, and do not intend to participate in Mainnet Validator Staking.
To run a Validator Node on the Chronos Testnet, please follow the documentation given below:
1. Chronos Tutorial - Running A Fullnode (watch video)
2. Chronos Tutorial - How to get OLT to stake
3. Chronos Tutorial - Validator staking (watch video)
If you need any help with setting up the Fullnode or any technical assistance, our Development team would be more than happy to assist you through the official OneLedger Development Channel.
Staking Rewards
To calculate the estimated Validator Staking rewards, please download the OneWallet.
We are introducing a unique Tier-based rewarding mechanism to encourage community participation and ensure the sustainability of the OneLedger network in the long-run.
The Tiers are identified as follows:
|
Number of Validators |
Tier |
|
1-16 |
1 |
|
17-32 |
2 |
|
33-64 |
3 |
The distribution of the estimated rewards is as follows:
*all staking and reward numbers are given in OLT. We have estimated a fixed number of validators and tokens staked for each year. In reality, these numbers could be higher or lower.
|
Validators |
Tiers |
Staking Amount (per Validator) |
Minimum Annual Return |
Total Distribution |
Validator Revenue |
Max annual allocation per year |
|
16 |
Tier 1 |
3,000,000 |
20% |
9,600,000 |
600,000 |
70m (Year 1) |
|
32 |
Tier 2 |
3,000,000 |
20% |
19,200,000 |
600,000 |
70m (Year 2) |
|
64 |
Tier 3 |
3,000,000 |
20% |
38,400,000 |
600,000 |
40m (Year 3) |
|
64 |
Tier 3 |
3,000,000 |
20% |
38,400,000 |
600,000 |
40m (Year 4) |
|
64 |
Tier 3 |
3,000,000 |
20% |
38,400,000 |
600,000 |
30m (Year 5) |
|
64 |
Tier 3 |
3,000,000 |
15% |
28,800,000 |
450,000 |
30m per year until all rewards distributed (Year x) |
Table 1: Distribution of Rewards
A couple of things to keep in mind regarding the table above:
1. The above numbers are based on the assumption that each Validator will host an equivalent of 3 million OLT. Actual rewards may differ based on the number of tokens staked.
2. You may want to keep the Tiers in mind as we move forward explaining a scenario
Now, let's explain the details through a scenario.
Scenario
Tom is a Validator. He stakes 3m tokens into the OneLedger network during Year 1. The amount of rewards generated for Tom would be as follows:
|
OLT Staked by Tom |
Total Number of Validators |
Tier |
Total Distribution for that Tier |
Tom's Return |
Annual Return |
|
3,000,000 |
16 |
Tier 1 |
9,600,000 |
600,000 |
20% |
|
3,000,000 |
8 |
Tier 1 |
9,600,000 |
1,200,000 |
40% |
|
3,000,000 |
32 |
Tier 2 |
19,200,000 |
600,000 |
20% |
|
3,000,000 |
17 |
Tier 2 |
19,200,000 |
1,129,411.76 |
37.64% |
|
3,000,000 |
64 |
Tier 3 |
38,400,000 |
600,000 |
20% |
|
3,000,000 |
40 |
Tier 3 |
38,400,000 |
960,000 |
32% |
Table 2: Rewards distributed to Tom
As you may notice, the minimum ROI Tom earns during a specific time period is 20% (based on the first 5 years as per Table 1), with a potential to earn higher depending on the number of Validators in the network and the Total Distribution for that Tier.
Tokenomics
Full details regarding the OneLedger Tokenomics model can be found here.
We would like to thank you all for the participation. If you have any questions/concerns, feel free to reach out to our Development team on the OneLedger Development Telegram Channel.