Hey guys!
As most of you already know, we are officially releasing Pre-Go version of the RSS3 network, which will be just one step away from a fully decentralized architecture. As R&D proceeds at a fast speed, we believe it is equally important to have a test run on the future node-staking module. Note that normally, the address that stakes the token would be sharing the reward with the node operator, whereas in this testrun, all pre-god nodes wouldn’t take any reward.
So here, we would like to introduce Early Incentive #3, which will be a special pre-staking testrun of 20,000,000 RSS3 tokens.
The basic rule for the pre-staking testrun is as follows:
There will be in total of 20,000,000 RSS3 tokens as reward for a staking period of 12 months. During the 12 months, you can choose to stake the tokens for 90 days, 180 days, 270 days, or 360 days of any number. The weight for staking will be calculated as T * V, where T stands for the length of the staking time and V stands for the number of staked tokens. Everyday, there will be approximately 54794.5 RSS3 allocated to all who participate in the pre-staking testrun according to weight. At any point of the 12 months, you can always join the pre-staking testrun under one condition: you can only choose a staking period that is shorter than the remaining time of the event. E.g. you can’t be staking for 360 days when there is only 200 days left.
Let’s assume that there are three addresses that stake their RSS3 token for the event:
In the example above, we are assuming that there is no additional addresses joining the pre-staking testrun, which is a highly unlikely situation.
JoshuaMeteora.eth’s staking reward per day is calculated as 54794.5 * (2700000 / (1800000 + 5400000 + 2700000)) = 14943.95. And it will get 14043.95 * 90 = 1344955.9 as its total reward.
All the rewards, together with the staked tokens, will be released in a 60-day period by the end of your chosen staking period, and during the pre-staking testrun, all staked tokens will be having twice as much voting power as normal tokens.
Additionally, when the decentralized RSS3 nodes are live (we expect them to be ready in about 8 months), your staking will be transferred to the nodes and all those who participate in the pre-staking testrun will be receiving additional weights (from the aggregated staking time) as a result.
We will bring more details about when and how to join the pre-staking testrun quickly - stay tuned!
Joshua and the RSS3 Team