Grayblock Thearchy Node - Reward Sharing

GrayblockThearchyNode2.jpg
 
 

In January 2019, INT released their complete node plan and reward structure. In this was more detail on rewards the node gets based on the number of votes they receive.

In total, the INT network distributes 20 million INT per year as rewards for participating in keeping the network secure. Of that, 30% is given to the Thearchy nodes which create the blocks in the form of a block reward, 50% is given to the top 100 nodes proportionally to the number of votes they have, and 20% is given to those that voted, proportionally to the number of votes they give. 

This works out to about 192,000 INT that will be distributed weekly to the top 100 nodes.


What does that mean for you?

If we assume the total amount of votes in the network to be 1.28 billion (current amount of total votes) and Grayblock has 34 million votes, the Grayblock Thearchy would be awarded 2.65% of the weekly 192,000 INT as reward for the number of votes earned.

We see the this as an opportunity to give back as thanks for being active in the community and participating in decentralizing the network. So we are distributing 50% of our “Reward Node” earnings back to the voters. That totals to approximately 2,500 INT per week.*

We are going to use the remaining 50% of these funds to go to the development of hardware wallet (Grayblock Ledger fund, Andromeda Node’s Trezor fund) integration for INT.

If you wish to contribute to the hardware wallet development or to Grayblock in general for use in other projects, vistit:

https://grayblock.network/donations/

How it will work

Ultimately, it will work very similar to how mining pools payout. The amount of reward you are sent will be proportional to the amount of votes you provided. To prevent vote jumping, your reward will be dependent on the number of days you have been voted. 

With rewards being distributed every 9 days, we will send out rewards on the same schedule, we will take care of the fees.

Please register your address that you voted with to receive your rewards. We will use the address you provide to verify the amount of INT you staked to determine how much profit we share with you.



*The exact number will change as the voting ecosystem evolves. We will post the current amounts to be distributed as it changes.

VoteForGrayblock2.jpg

INT1NNTpagq79v9ZHJBSGmSevEtsUXSGnLJvX