Symbol Launch Discussion Topic (2/3) - Node Monitoring and Payouts

Symbol Launch Discussion Topic (2/3) - Node Monitoring and Payouts

Hi all,

This is the second of three discussion topics we are opening this week. The intention of this post is to gather input, discussion, opinions, questions etc about the Node Monitoring and subsequent SuperNode + Finality Voting payout approach.

The below is a proposal/start point for how NGL is thinking it could run, this is a discussion and not set in stone, we are specifically asking for likes/dislikes, problems/opportunities etc. that the community can spot here.

Attached is a longer requirements document, a technical design will come in a the next few days as well but the high level bullet points would be:

  • NEM NIS1 SuperNode Monitoring solution to be transitioned over to NGL operationally at request from Core

  • Symbol Node Monitoring to be installed on all Symbol nodes if possible, to allow better network and chain health information to be provided generally

  • Symbol SuperNode payout solution to work in a conceptually similar way to NEM NIS1 solution and be developed and hosted by NGL with funding from Core

  • Finality Voting is currently a layer 2 solution, this means 5% of all block rewards will be paid to sink address for payment to Voting Nodes. To be a Voting Node it is necessary to be a full supernode and have opted in to take part in Voting. NGL will run the payment solution in a similar manner to the SuperNode programme. Over time NGL will seek ways in which this can be migrated on-chain

  • The Tokenomics Early + Ecosystem Node bonuses to make use of the same monitoring solution an payout solutions

Full document with the requirements, process steps and operational processes

Please do let us know if there is anything in here that is wrong, needs another perspective, generates questions etc the best way to ensure this works how everyone wants it to is to have these conversations.

The proposed design/architecture for the Symbol solution will be posted as soon as it has been fully reviewed

3 Likes

Without going in to details, is there a possibility that supernode will require KYC in future if the funds are held/sent by NGL?

Nope

1 Like

Is it possible to describe, specify or link to a Tokenomics document including all Symbol harvesting/rewards/supernode/voting/payouts or other inflationary distribution of tokens?
All token economics should be known before launch, allowing a conscious choice reagrding opt-in and/or running node(s).
Thanks in advance.

The original tokenomics docs are here:

They do need a minor update which is being looked at; when it was done originally the Finality/Voting didn’t exist and a start date assumption of Feb 2020 was used (from memory) was used, the numbers just need updating to keep the start supply and supply inflation curve aligned correctly. A separate discussion thread is due to be posted on this in the coming days.

The basic approach and economics is unaltered, but the models need updating and Voting payments need adding in.

3 Likes

I have a question about payment.

Excel Model shows the projected annual yield.
What will be done if you are significantly above or below this figure? Who has the authority to change it?

To begin with, the NIS1 supernode program was designed to gradually reduce the daily rewards and make up for it with block rewards.
But that didn’t work at all, and it has changed drastically from the original plan.
I think it will be another NIS1 second act.

To be honest, I’m an investor, so I have no problem with a lot of rewards. :wink:
Thanks in advance.

Excel Model shows the projected annual yield.
What will be done if you are significantly above or below this figure? Who has the authority to change it?

Block rewards make up most of the yield and they are set at genesis the same as BTC was. Only way to change is by node owner consensus and changing the configs etc

SN programme is part of community voted/approved tokenomics plan so changes from it should be via Core and Community consultation.

The excel model is an estimate/ilustration and based on assumptions but the config underpinning it is all visible and can be modelled by anyone with different assumptions as well if they want.

1 Like