diff --git a/.vscode/extensions.json b/.vscode/extensions.json index 289d9c83..2e02958b 100644 --- a/.vscode/extensions.json +++ b/.vscode/extensions.json @@ -1,3 +1,7 @@ { - "recommendations": ["editorconfig.editorconfig", "biomejs.biome"] + "recommendations": [ + "editorconfig.editorconfig", + "biomejs.biome", + "esbenp.prettier-vscode" + ] } diff --git a/.vscode/settings.json b/.vscode/settings.json index c0c3a519..01cbf918 100644 --- a/.vscode/settings.json +++ b/.vscode/settings.json @@ -14,5 +14,12 @@ }, "[typescriptreact]": { "editor.defaultFormatter": "biomejs.biome" - } + }, + "[markdown]": { + "editor.defaultFormatter": "esbenp.prettier-vscode" + }, + "files.associations": { + "*.mdx": "markdown" + }, + "cSpell.words": ["delegator", "delegators", "permissionless"] } diff --git a/next.config.mjs b/next.config.mjs index 5dbf48a5..3dda2b66 100644 --- a/next.config.mjs +++ b/next.config.mjs @@ -32,6 +32,31 @@ const nextConfig = { destination: '/chain/nodes/introduction', permanent: true, }, + { + source: '/nodes/delegation/stake_node_tokens', + destination: '/nodes/delegation/stake_beam', + permanent: true, + }, + { + source: '/nodes/rewards/primary', + destination: '/nodes/rewards/composition', + permanent: true, + }, + { + source: '/nodes/rewards/secondary', + destination: '/nodes/rewards/composition', + permanent: true, + }, + { + source: '/nodes/requirements/mint', + destination: '/nodes/requirements', + permanent: true, + }, + { + source: '/nodes/requirements/node_token', + destination: '/nodes/requirements', + permanent: true, + }, ]; }, }; diff --git a/pages/nodes/_meta.ts b/pages/nodes/_meta.ts index 467def4b..9c141ac8 100644 --- a/pages/nodes/_meta.ts +++ b/pages/nodes/_meta.ts @@ -6,4 +6,5 @@ export default { delegation: 'Delegation', rewards: 'Rewards', maintenance: 'Maintenance', + node_token: 'Phasing out the Node Token', }; diff --git a/pages/nodes/delegation.mdx b/pages/nodes/delegation.mdx index d37e9f6e..2949880e 100644 --- a/pages/nodes/delegation.mdx +++ b/pages/nodes/delegation.mdx @@ -1,27 +1,16 @@ # Delegation -Delegation allows users to contribute to the Beam Network's security and decentralization without running a validator node. By delegating their BEAM tokens or Node Tokens, users support validators in processing transactions and maintaining the network. +Delegation allows users to contribute to the Beam Network's security and decentralization without running a validator node. By delegating their BEAM tokens, users support validators in processing transactions and maintaining the network. ## How Delegation Works -Delegators can stake their BEAM and/or Node Tokens with validators operating Beam Nodes. While they don't run a node themselves, delegators play an essential role in securing the network and enabling its decentralized functionality. Delegators may in return earn rewards. +Delegators can stake their BEAM tokens with validators operating Beam Nodes. While they don't run a node themselves, delegators play an essential role in securing the network and enabling its decentralized functionality. Delegators may in return earn rewards. ## Key Details -- **No Minimum Delegation**: Delegators can stake any amount of BEAM and/or Node Tokens, even as little as 1 token. -- **Withdrawal Period**: Delegated BEAM or Node Tokens are subject to a **21-day waiting period** before they can be undelegated. If you instead decide to re-delegate to a different Beam Node, there is no withdrawal period. -- **Rewards**: Delegators earn rewards proportional to their stake from both primary rewards (transaction fees) and secondary rewards (protocol fees and Validator Incentive Grants). +- **No Minimum Delegation**: Delegators can stake any amount of BEAM tokens, even as little as 1 token. +- **Withdrawal Period**: Delegated BEAM tokens are subject to a **21-day waiting period** before they can be undelegated. If you instead decide to re-delegate to a different Beam Node, there is no withdrawal period. +- **Rewards**: Delegators earn rewards proportional to their stake from both transaction fees and additional rewards, like protocol fees and Validator Incentive Grants. - **Commission Fees**: Validators can set a commission fee on the rewards earned by their delegators, which varies by validator. -## Delegation Rewards - -Delegators receive rewards from two primary sources: - -- **[Primary rewards](/nodes/rewards/primary)**: Transaction fees (gas fees) on the Beam Network, distributed in BEAM. -- **[Secondary Rewards](/nodes/rewards/secondary)**: These include protocol fees (e.g., from BeamSwap and Sphere marketplace) and grants from Beam Foundation Treasury, which may consist of additional tokens and contributions. - -### Reward distribution -- **80%** of secondary rewards flow to Node Token stakers (validators and delegators). -- **20%** of secondary rewards flow to BEAM stakers (validators and delegators). - ## Slashing Risks While delegation is a simpler way to support the network, delegators are not exempt from risks. If a validator is penalized for poor uptime, malicious activity, or misbehavior, their delegators will also face **slashing penalties**, losing part of their rewards. diff --git a/pages/nodes/delegation/_meta.ts b/pages/nodes/delegation/_meta.ts index 87da1ad0..651233b3 100644 --- a/pages/nodes/delegation/_meta.ts +++ b/pages/nodes/delegation/_meta.ts @@ -1,5 +1,4 @@ export default { stake_beam: 'How to stake BEAM', - stake_node_tokens: 'How to stake Node Tokens', validate_delegate: 'Validate vs delegate', }; diff --git a/pages/nodes/delegation/stake_node_tokens.mdx b/pages/nodes/delegation/stake_node_tokens.mdx deleted file mode 100644 index 07d4928d..00000000 --- a/pages/nodes/delegation/stake_node_tokens.mdx +++ /dev/null @@ -1,26 +0,0 @@ -import Image from 'next/image'; - -{/* --- -title: alternate title -description: meta description ---- */} - -# How to delegate Node Tokens - -This page describes how you can stake your Node tokens with validators by using the Delegation dashboard. - -Go to the Delegation dashboard and view the list of [active validators](https://nodes.onbeam.com/delegations). - -You can use the filtering and sorting options if you wish to find specific validators or narrow down the search. - -1. Choose a validator running a Beam Node that aligns with your goals. -2. Delegate your Node Tokens to the selected validator. - -Stake Node NFT - -3. Monitor validator performance to ensure consistent rewards and minimal slashing risks. diff --git a/pages/nodes/delegation/validate_delegate.mdx b/pages/nodes/delegation/validate_delegate.mdx index 1e0c400b..225a4f2d 100644 --- a/pages/nodes/delegation/validate_delegate.mdx +++ b/pages/nodes/delegation/validate_delegate.mdx @@ -9,6 +9,6 @@ The core distinctions between validators and delegators are outlined below: | | Validator | Delegator | | :------------------- | :-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | :---------------------------------------------------------------------------------------- | | Responsibilities | Actively run a node, validate transactions, and participate in securing the Beam Network. | Stake tokens to a validator to participate in network security indirectly. The validator doesn't have custody of the tokens and they can be unstaked at any time. | -| Stake Requirement | Minimum stake of 20,000 BEAM and 1 Node Token (ERC-721).

| Minimum stake of 100 BEAM token and/or 1 Node Token. | +| Stake Requirement | Minimum stake of 50,000 BEAM.

| Minimum stake of 100 BEAM token. | | Infrastructure | Must maintain 80%+ uptime to avoid slashing, achievable through services like NaaS (Node-as-a-Service), VPS, or dedicated hardware (meeting system requirements). | No infrastructure responsibilities. | | Rewards Distribution | Receive rewards directly for validation efforts. Validators can set their own commission rates for sharing rewards with delegators. | Receive rewards indirectly as a share of the validator's earned rewards after commission. | diff --git a/pages/nodes/index.mdx b/pages/nodes/index.mdx index 50a062ca..6cceaee1 100644 --- a/pages/nodes/index.mdx +++ b/pages/nodes/index.mdx @@ -15,8 +15,7 @@ Beam Nodes are validator nodes that operate on the Beam Network following the Ho ## Key requirements To run a Beam Node, validators must: -- Stake at least 1 Node Token (ERC-721) -- Stake at least 20,000 BEAM +- Stake at least 50,000 BEAM - Meet the hardware requirements - Pay the continuous fee mechanism in AVAX to Avalanche P-Chain validators @@ -24,9 +23,8 @@ To run a Beam Node, validators must: You can participate in the Beam Network's validation in two ways: - As a validator – run your own Beam Node, meeting all requirements and directly processing transactions. -- As a delegator – stake your BEAM and/or Node Tokens with validators without running node software yourself. +- As a delegator – stake your BEAM with validators without running node software yourself. -## Additonial Resources -- [How to Mint Node Tokens](/nodes/requirements/mint) +## Additional Resources - [Validator Requirements](/nodes/requirements) - [Delegation](/nodes/delegation) diff --git a/pages/nodes/node_token.mdx b/pages/nodes/node_token.mdx new file mode 100644 index 00000000..3776e3e1 --- /dev/null +++ b/pages/nodes/node_token.mdx @@ -0,0 +1,22 @@ +# Phasing out the Node Token + +The Beam Network has upgraded its proof-of-stake (PoS) consensus mechanism, removing the Node Token as a requirement for network validation. This strategic change aims to consolidate utility, governance, and staking rewards exclusively around BEAM, streamlining the network architecture. + +This update addresses community concerns regarding the dilution of BEAM utility and streamlines the network to better support decentralization efforts, such as more efficient stake weight distribution. Consequently, BEAM now serves as the single asset required to secure and govern the Beam network. + +Following the update, the Beam Network operates under the following parameters: + +- **Primary Asset:** BEAM is the only asset required for network validation and governance. +- **Validator Requirements:** The staking requirement to operate a new validator node is set to 50,000 BEAM. No Node Tokens are required. +- **Unstaking:** Node Tokens can be unstaked immediately, with no mandatory cooldown period for neither validators nor delegators. Validators can additionally unstake Node Tokens without ending their validation. +- **Rewards Structure:** All network rewards, including transaction (gas) fees and protocol fees, accrue directly to validators and delegators (for more details see [composition of rewards](/nodes/rewards/composition)). + +## Node Token redemption process + +To ensure that existing Node Token holders are transitioned fairly, the following redemption process has been implemented: + +- **Redemption Mechanism:** A dedicated smart contract has been deployed, allowing holders to transfer their Node Tokens in exchange for BEAM. +- **Redemption Value:** The redemption amount in BEAM is equal to the original minting cost of their Node Token. For tokens minted in the discount period, the redemption value is fixed at 37.878 BEAM, tokens minted after are redeemed for 124,089 BEAM. +- **Redemption Window:** The option to redeem Node Tokens will remain open for a period of two years. After this timeframe, any remaining BEAM in the smart contract will be returned to the Beam Foundation treasury. + +To redeem Node Tokens, unstake your Node Tokens in the [Delegation dashboard](https://nodes.onbeam.com/delegations) first. Then use the [Node Token Redemption](https://nodes.onbeam.com/redeem) page to redeem your unstaked tokens for BEAM. Any yet unclaimed Node Tokens can be redeemed on this page as well. diff --git a/pages/nodes/requirements.mdx b/pages/nodes/requirements.mdx index bc26e086..bd7c6854 100644 --- a/pages/nodes/requirements.mdx +++ b/pages/nodes/requirements.mdx @@ -12,9 +12,8 @@ Validators play a critical role in maintaining the security and performance of t To operate a Beam Node as a validator, the following staking requirements must be met: -- **Node Token**: Stake at least 1 Node Token (ERC-721). -- **BEAM**: Stake a minimum of 20,000 BEAM. -- **Maximum Stake Limits**: Each Beam Node can have up to 200 million BEAM and 1,000 Node Tokens staked to it. +- **BEAM**: Stake a minimum of 50,000 BEAM. +- **Maximum Stake Limit**: Each Beam Node can have up to 200 million BEAM staked to it. ## Hardware Requirements diff --git a/pages/nodes/requirements/_meta.ts b/pages/nodes/requirements/_meta.ts index 0a43bed1..bea717f0 100644 --- a/pages/nodes/requirements/_meta.ts +++ b/pages/nodes/requirements/_meta.ts @@ -1,5 +1,3 @@ export default { - node_token: 'Node Token', - mint: 'How to Mint a Node Token', bridging: 'Bridging over to Beam Network', }; diff --git a/pages/nodes/requirements/mint.mdx b/pages/nodes/requirements/mint.mdx deleted file mode 100644 index 7cb97553..00000000 --- a/pages/nodes/requirements/mint.mdx +++ /dev/null @@ -1,63 +0,0 @@ -{/* --- -title: How to mint a Node Token? -description: meta description ---- */} - -# How to mint a Node Token? - -Below we have displayed a step-by-step process for minting a Node Token via [nodes.onbeam.com](http://nodes.onbeam.com). - -As the source code of the smart contract is open source, note however that others may also implement a user interface (frontend) to interact with such a smart contract. It will also be possible to interact with the smart contract directly by other means. Consequently, it is possible to interact with the smart contract elsewhere than by use of nodes.onbeam.com if a user wishes to do so. - ---- - -### Step 1 - Head over to [nodes.onbeam.com](http://nodes.onbeam.com) - -The first step to take is to ensure you have accessed the correct site. As described above, in principle anyone can implement a user interface to interact with the smart contract, but if you wish to use [nodes.onbeam.com](http://nodes.onbeam.com), make sure that you are on the correct site. Please only trust the official links shared by the [Beam Foundation](http://x.com/beamfdn) and [BuildOnBeam](http://x.com/buildonbeam) accounts. - -![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXcdN3ToV6oTBYK8nXBs4OYmBgiEI2veeBvUY7jzq5M3sekW2UEzrplRcIUIXeqvSOvTcu9JdegPVB4nilkdwxj2Sy_wqIEkLDOe0b51DwKePW1YTjkbGRkBFY7-wqGBds6A2gqdbA?key=YbApXu9XiZv637JVpmPQy_fv) - ---- - -### Step 2 - Connect your wallet - -In the upper right corner, press 'connect wallet'. This will open up a pop-up where you may select the wallet of your preference. This ranges from MetaMask, Phantom, Rabby, Coinbase Wallet to virtually any possible wallet. - -## ![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXfZO0NvT7IWnZhecYCcnON2uZc3JWYqRmo9q0HPYEWnNT2cGko5BMaRQ1EynYO30N_brsoN4NnDdH7mHwfDnYoW1M-HeNPB1wEAvpr7v9GVFSDLFPk0umNqYkoP_ZaHx0lqT9DcRw?key=YbApXu9XiZv637JVpmPQy_fv) - ---- - -### Step 3 - Press 'mint node token' - -Once you've successfully connected your wallet, it's time to initiate the minting process. This is done by pressing the 'mint node' button in the middle of your screen. - -![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXdHZ_VUXhJrPf8CQaCMW-aI3oFOnSO-kFYq2nbGgMs26MkUsIqQYu2ciRrT2LleViqFMyWfDHMFvBhKzLxZxEF5tvO7DBlR7Kb1mQqzG3rRtMKNrXRYiRqFAEB1HU1Ekc2jXgQUCg?key=YbApXu9XiZv637JVpmPQy_fv) - - ---- - -### Step 4 - Select your preferences - -In a new popup window, you will be met with a variety of choices to make; - - -- Chain - historically Node Tokens were available on several chains. Since we're past the Horizon Upgrade, only Beam Network is available. - -- Amount - decide how many Node Tokens you wish to mint. - -- Referral code - if applicable, you can enter a referral code here. - - - -Once you've made your decisions, press the 'increase allowance' button to allow your wallet to interact with the contracts. Verify this action in your chosen wallet. - - -![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXdaf9SMVrgRAs5-ouCK4GjA9um6pfBfkZayWvjJPCSuqBH32UjNKlwlHby-kfQJACKvwZM4IW1DjWPB822Bmoty2R_sREjoCG0-4xsEY0qWEOrYr9vo93HJAia6DPYmNTUjpDpL?key=YbApXu9XiZv637JVpmPQy_fv) - ----- - -### Step 5 - Mint - -After you've given approval, the final step is pressing the 'mint' button. This action once again needs to be approved and confirmed on your wallet of choice. After confirmation on the blockchain, the minted token will be available in your wallet. - -![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXcMMgOqMdM0d4MvdRJMmua5BGqVceFazPEhQ1pTuIUpR_Z1oSoAwxOHIRrHcLwWVA9hRUO_WVhvRbKw7XIsgGFEvlLTbE8PysxuRdMzySirA4RrbQr5xDNqqX3BAK3EbIxnVszS?key=YbApXu9XiZv637JVpmPQy_fv) diff --git a/pages/nodes/requirements/node_token.mdx b/pages/nodes/requirements/node_token.mdx deleted file mode 100644 index f7778146..00000000 --- a/pages/nodes/requirements/node_token.mdx +++ /dev/null @@ -1,32 +0,0 @@ -{/* --- -title: alternate title -description: meta description ---- */} - -# Node Token - -## What is a Node Token? - -A Beam Node Token is an ERC-721 standard token that serves as a critical component for validation on the Beam Network. As a result of the Horizon upgrade, Node Tokens now function as one of the key elements required for participating in the network's validation process. - -## Key Specifications -- **Token standard:** ERC-721 non-fungible token -- **Supply:** Unlimited with no minting deadline -- **Requirement:** At least 1 Node Token is needed to run a Beam Node (alongside 20,000 BEAM) -- **Staking limit:** Up to 1,000 Node Tokens can be staked per Beam Node - -## Node Token Economics - -The Node Token incorporates several economic mechanisms designed to support the Beam ecosystem: - -- **Minting fee:** The fee for minting Node Tokens is payable in BEAM, creating demand for the network's native token. Node Tokens that are minted with other currencies will be autonomously swapped into BEAM and later burned. -- **Burning mechanism:** All BEAM used for minting is automatically sent to a burner contract, permanently removing these tokens from circulation and contributing to BEAM's deflationary nature. -- **Secondary market:** When Node Tokens change hands on secondary markets, a 7.5% fee is automatically enforced by the smart contract. If the fee is paid in BEAM, then the BEAM will be burned. If the fee is paid in any other token, then such other token is autonomously swapped to BEAM, which is then burned. - -## Smart Contract Architecture - -The Node Token exists through an ownerless smart contract that has been thoroughly [audited for security](https://github.com/pashov/audits/blob/master/team/pdf/Fundraiser-security-review_2024-11-30.pdf). The smart contract handles all token operations autonomously, including: - -- Minting new tokens -- Collecting and processing fees -- Executing the BEAM burning mechanism diff --git a/pages/nodes/rewards.mdx b/pages/nodes/rewards.mdx index 3a7a6d79..975dbb2f 100644 --- a/pages/nodes/rewards.mdx +++ b/pages/nodes/rewards.mdx @@ -7,8 +7,6 @@ description: meta description The Beam Network is a vital part of the Beam ecosystem which stretches far and wide throughout the gaming industry with a suite of smart contracts, decentralized applications, games and other activities. Those that empower and secure the Beam Network, and thereby contribute to a decentralized gaming future, may receive a wide variety of network rewards in return. -These rewards can be divided into [primary](/nodes/rewards/primary) and [secondary](/nodes/rewards/secondary) rewards. - ## Epochs @@ -41,8 +39,9 @@ After the 7 days have passed, rewards become claimable via the [Delegation dashb ## Rewards calculation and distribution process -To better understand how the rewards calculation and distribution works, here are the steps of the process for Primary rewards: -1. Collect all gas fees into the Rewards contract +To better understand how the rewards calculation and distribution works, here are the steps of the process: + +1. Collect all gas fees and broader ecosystem rewards into the Rewards contract (for more details see [composition of rewards](/nodes/rewards/composition)) - Query all active validators for their uptime and request quroum from the nodes - Once uptime is agreed upon by the quorum (67%+ of nodes), the nodes that have 80%+ uptime are marked to receive full rewards, and those with less than 80% have a linear drop off in the rewards they get 2. Depending on all combined stake weight in the validator set, define reward amounts for each node based on that individual nodes stake weight @@ -50,15 +49,3 @@ To better understand how the rewards calculation and distribution works, here ar 3. Rewards are then distributed as follows, per each validator node: - Validator node gets their respective amount of rewards based on the commission percentage - Each delegator in turn gets their respective amount based on their stake weight within that node - -### Notes for Secondary rewards - -The process for Secondary rewards is largely the same, with slight changes to a few of the steps: - -The rewards pool is not based on network gas fees, rather it's a broader ecosystem rewards pool. For exact details see under [secondary rewards](/nodes/rewards/secondary). - -For each delegator, the ratio of rewards is as follows: -- 80% is based on the weight of the staked Node Tokens -- 20% is based on the weight of staked BEAM - -This is different to how Primary rewards are calculated - there is no ratio, just the stake weight BEAM. diff --git a/pages/nodes/rewards/_meta.ts b/pages/nodes/rewards/_meta.ts index 56554f1a..3247339b 100644 --- a/pages/nodes/rewards/_meta.ts +++ b/pages/nodes/rewards/_meta.ts @@ -1,5 +1,4 @@ export default { - primary: 'Primary rewards', - secondary: 'Secondary rewards', + composition: 'Composition of rewards', claim_rewards: 'How to claim rewards', }; diff --git a/pages/nodes/rewards/composition.mdx b/pages/nodes/rewards/composition.mdx new file mode 100644 index 00000000..6e0e29fe --- /dev/null +++ b/pages/nodes/rewards/composition.mdx @@ -0,0 +1,23 @@ +# Composition of rewards + +The main rewards consist of the transaction (gas) fees on the Beam Network. These transactions are settled in the network's native currency, BEAM, and will be paid out in BEAM to active validators and BEAM delegators based on their respective portion of staked BEAM and the total transaction volume on the Beam Network. + +To further reward those who help empower and secure the Beam Network and ecosystem, additional rewards will be introduced. This reward structure is unlike any other and consists of the following: + +- Protocol fees generated across the Beam ecosystem. + +> Contracts for autonomous flows of protocol fees (in relation to e.g. BeamSwap and Sphere) are currently being created, audited and are expected to be implemented in due course. + +- Seasonal validator incentive grants by Beam Foundation, from its Treasury. The grant will function as a grant to the Beam Network, and be transferred to an autonomous smart contract on it prior to the commencement of each season. Validators and delegators may, in return for securing and validating the Beam Network, earn rewards from such a smart contract. + +> Validator incentive grants will be used to incentivize validators and delegators to contribute to the security of the Beam Network. The goal is to over time work towards making the Beam Network an entirely self-sufficient ecosystem with no need for such grants. More info about the validator incentive grant system will be shared in due time prior to commencement of the first season, commencing on 1 April 2025. + +The total rewards are determined based on a variety of factors: + +- The number of BEAM staked. +- The total transaction volume on the Beam Network. +- The total amount of fees collected from Beam protocols. +- The fees that are distributed through validator incentive grants. +- The commission fee charged to delegators. +- The time Node Tokens or BEAM remain staked during each season. +- Slashing of rewards. diff --git a/pages/nodes/rewards/primary.mdx b/pages/nodes/rewards/primary.mdx deleted file mode 100644 index 46c7b357..00000000 --- a/pages/nodes/rewards/primary.mdx +++ /dev/null @@ -1,11 +0,0 @@ -{/* --- -title: alternate title -description: meta description ---- */} - -# Primary rewards - -The primary rewards consist of the transaction (gas) fees on the Beam Network. These transactions are settled in the network's native currency, BEAM, and will be paid out in BEAM directly to active validators and BEAM delegators based on their respective portion of staked BEAM. - -The distribution of the primary rewards will be handled through a formula that considers the total number of active validators, BEAM staked and the total transaction volume on the Beam Network. - diff --git a/pages/nodes/rewards/secondary.mdx b/pages/nodes/rewards/secondary.mdx deleted file mode 100644 index fb1f041e..00000000 --- a/pages/nodes/rewards/secondary.mdx +++ /dev/null @@ -1,28 +0,0 @@ -{/* --- -title: alternate title -description: meta description ---- */} - -# Secondary rewards - -To further reward those who help empower and secure the Beam Network and ecosystem, secondary rewards will be introduced. This reward structure is unlike any other and consists of the following: - -- Protocol fees generated across the Beam ecosystem - -> Contracts for autonomous flows of protocol fees (in relation to e.g. BeamSwap and Sphere) are currently being created, audited and are expected to be implemented in due course. - -- Seasonal validator incentive grants by Beam Foundation, from its Treasury. The grant will function as a grant to the Beam Network, and be transferred to an autonomous smart contract on it prior to the commencement of each season. Validators and delegators may, in return for securing and validating the Beam Network, earn rewards from such a smart contract. - -> Validator incentive grants will be used to incentivize validators and delegators to contribute to the security of the Beam Network. The goal is to over time work towards making the Beam Network an entirely self-sufficient ecosystem with no need for such grants. More info about the validator incentive grant system will be shared in due time prior to commencement of the first season, commencing on 1 April 2025. - -Similar to the primary rewards, these secondary rewards will flow autonomously to the validators and delegators. 80% of the secondary rewards will flow to validators and delegators staking Node Tokens (based on their respective portion of staked Node Tokens) and 20% of the secondary rewards will flow to validators and delegators staking BEAM (based on their respective portion of staked BEAM). - -The total secondary rewards will be determined based on a variety of factors: - -- The number of Node Tokens staked. -- The number of BEAM staked. -- The total amount of fees collected from Beam protocols. -- The fees that are distributed through validator incentive grants. -- The commission fee charged to delegators. -- The time Node Tokens or BEAM remain staked during each season. -- Slashing of rewards. diff --git a/pages/nodes/run_node/register.mdx b/pages/nodes/run_node/register.mdx index 60d64fd3..94592af6 100644 --- a/pages/nodes/run_node/register.mdx +++ b/pages/nodes/run_node/register.mdx @@ -51,7 +51,7 @@ Make note of the required parameters as you will need them all in the next step. With all the requirements from the previous step ready, proceed to the [validator page](https://nodes.onbeam.com/validators) and fill them in. Select the appropriate node to which this information refers to. In case you have several nodes that you wish to set up as validators, you will need to repeat this process for each node so be mindful of which node you are filling in the parameters for. -The final parameter is the amount of BEAM you would like to start off staking with. The minimum requirement is 20,000 BEAM and 1 Node NFT. +The final parameter is the amount of BEAM you would like to start off staking with. The minimum requirement is 50,000 BEAM.