Last week we published an introductory article about the Elysium node program. This article will go into a little more depth, covering nodes, pools, and the reward system. Please read the introductory article before taking this deeper dive into the details. Let’s dive into the types of nodes available on the Elysium blockchain without further ado.
TLDR: Nodes will receive a % of marketplace fees (Royalty fees) and $LAVA (transaction fees) and LAVA collected from sowing.
Elysium nodes (1/4): Introduction
Elysium nodes (2/4): The Requirements and the Rewards.
Elysium nodes (3/4): Example scenarios, delegation, and node NFTs.
Part 4: TBA
REWARDS FOR NODES
The different nodes will be rewarded with mainly $LAVA. As Vulcan Forged is determined to create a sustainable and balanced economy, we will use several ways to collect rewards for the nodes and burn a decent amount. For now, we offer three types of nodes: Cronus, Demeter, and Typhon nodes. We will incentivize higher-tiered nodes slightly better. The same goes for higher locking periods.
Currently, these are the fees used for the rewards:
- LAVA that‘s used as gas on the Elysium blockchain
- LAVA that‘s being paid for sowing NFTs
- Royalty fees generated on the Elysium marketplace(s). Each NFT sale will be charged with a fee. It will partly be distributed to nodes.
N.B. Royalty fees are paid in a % of $PYR and other ELS-20 token transactions on the market.
We will use pools for $LAVA distribution. The pools will collect the $LAVA non-stop and distribute the rewards every week.
The $LAVA transaction fees will be distributed as follows:
- 50% of the fees will be available as a reward for Cronus and Typhon Nodes
- 10% of the $LAVA will be divided between the Demeter Nodes.
- 10% of the $LAVA will be used to fill up the Vulcan Forged gaming pools (for non-Frenzy pass holders).
- 10% of the $LAVA is donated to the Elysium ecological & environmental pool.
- 20% is burned.
The marketplace royalty fees will be distributed like this:
- 40% will be distributed as rewards for nodes. (the Magma Protocol will be used to convert tokens paid into $PYR)
- 50% will be distributed to the foundation treasury (the Magma Protocol will be used to convert tokens paid into $PYR).
- 10% will be donated to the Elysium ecological & environmental pool
The $LAVA sowing fees will be distributed like this:
- 20% of the $LAVA will be burned.
- 80% of the fees will be available as a reward for Cronus and Typhon Nodes
ELYSIUM GOD POOL
Your Vulcan Gods become even more valuable as you can boost your staking income by holding God NFTs. This node program will reward NFT owners! The NFTs will increase your base generation amount. It will basically boost your income potential.
Zeus or Cronus holders: +15% staking rewards for base generation amount
God holders: +5% staking rewards for base generation amount
Note- the highest god value will be used. Gods are not stackable.
The God Pool applies to Cronus, Demeter, and Typhon Nodes.
ELYSIUM NFT POOL
The Elysium node program introduction mentioned a solid 1% boost for the base generation amount for each Vulcanite. Due to popular demand, we will change this slightly by adding a bonus for higher-level Vulcanites.
Vulcanites and OG badge holders will be able to boost their staking income. The NFT Pool will payout $LAVA based on the following increased reward boosts:
Level 1 Vulcanite: base generation amount + 1,00%
Level 2 Vulcanite: base generation amount + 1,25%
Level 3 Vulcanite: base generation amount + 1,50%
Level 4 Vulcanite: base generation amount + 1,75%
Level 5 Vulcanite: base generation amount + 2,00%
Level 6 Vulcanite: base generation amount + 2,25%
Vulcanites can be stacked up to a maximum of five Vulcanites. The maximum bonus is 10% on top of the base rewards you receive.
OG Badge bonus (not stackable): 2.5% staking reward for the total reward.
LAVA GEM MULTIPLIERS
These NFTs will also offer a bonus reward as we will (probably) discontinue the $LAVA gem reward program — although this has not been decided yet. These multiplier bonuses will start as soon as the node program becomes active.
Basic multiplier NFT: +30 $LAVA monthly*
Common multiplier NFT: TBA
Rare multiplier NFT: +200 $LAVA monthly*
Mythic multiplier NFT: Increase your God Pool buff by 0.5%*
Epic multiplier NFT: Increase your GOD Pool buff by 1%*
Legendary multiplier NFT: A free bronze key on day 27 of each month.*
Fire multiplier NFT: Will act as a god buff for 1 VulcanVerse plot*
Cedalion multiplier NFT: Add a 6th Vulcanite slot to the NFT pool with a fixed +2% for a Vulcanite of lv 2 or higher*
- Specific multipliers do not stack, but you can own one of each. The Mythic and Epic multipliers do not stack.
- The multiplier NFT rewards will be confirmed/announced separately soon.
For the early adopters, we will distribute node NFTs. These NFTs will boost your node income. When you do not own this NFT, you will still receive the base rewards, including the locking and tier bonus. It will be possible to trade these NFTs. More information about these NFTs will be announced.
The Cronus node is a physical node. You will need to rent a server and deploy software to be able to operate this node. Elysium will supply software images for the server to be set up correctly. Some technical knowledge will be required, although an external consultant could be used to cover this.
Not everyone will be allowed to own a Cronus Node. Only validated entities can run one. These entities should actively try and contribute to the future of Elysium. We consider entities to be eligible if the following requirements are met:
* Full KYC complete
* Validated and approved by the Vulcan Forged / Elysium compliance team
* Node hardware needs to be hosted using a 100% carbon neutral solution
* The geographical location of the node/server will be an essential factor. The Elysium team will provide a list of approved and available providers to rent a server
* The owner must stake at least 50,000 $PYR in the node’s address. This 50,000 $PYR will not breach a potential philosopher membership.
* If the owner moves or spends $PYR, causing the total amount to drop below the threshold of 50,000 $PYR, the owner will be disqualified and replaced by another candidate on the waiting list.
* Downtime will result in fewer rewards. The nodes will be monitored closely.
We will consider applicants from these groups:
* Partners using Elysium
* Game developers/companies creating games on Elysium
* Community contributors (needs to be significant)
* Vulcan Philosophers (limited slots available)
* VCs with long term commitment adding value for Elysium
There will be a maximum of 51 Cronus nodes.
CRONUS NODE REWARDS
Cronus nodes will be rewarded for keeping the Elysium blockchain secure through transaction fees, royalty fees, and sowing fees. The Cronus node will receive a bonus on top of the base generation amount because there are costs to keep the node online and secure.
All Cronus Nodes will receive part of the sowing costs, LAVA gas fees on Elysium, and the royalty fees. Cronus nodes can participate in the God Pool and NFT Pool. Please check the ‘rewards for nodes’ section at the top of this article for specifications regarding the rewards.