Part 2 of the Elysium node program articles covered node types, names, pools, reward structure, bonus rewards, etc. This article will cover the reward structure based on examples. Node NFTs and PYR delegation to Cronus nodes will also be discussed.
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
As Elysium will become one of the biggest gaming and NFT blockchains, we will, of course, stimulate the use of NFTs. This is why Elysium will distribute special and limited node NFTs for each Typhon node. We are going to ‘NFTify’ our node system. In order to be able to boost your node rewards by 10%, you need to own this NFT for the exact node you own. For example, staking 16.000 PYR while holding the Kraken node (64.000PYR) NFT does not give you the 10% bonus. These are the types of NFTs that will be distributed.
- Cyclops node NFT. 2.000 PYR needed.
- Sphinx node NFT. 4.000 PYR needed.
- Cerberus node NFT. 8.000 PYR needed.
- Gorgon node NFT. 16.000 PYR needed.
- Hydra node NFT. 32.000 PYR needed.
- Kraken node NFT. 64.000 PYR needed.
Please note that Cronus node NFTs will be given to the new node owners once as soon as the node has been checked and approved. This will not be done based on an airdrop as Cronus node holders need to be approved first.
A legendary node bonus NFT (extremely rare) will randomly be dropped to existing nodes, giving the node another 5% increased bonus rewards. All NFTs are tradable on the Vulcan Forged marketplace. This NFT could show up in treasure chests inside Vulcan Verse also.
How to earn node NFTs?
We offer several ways to acquire any of the node NFTs. We will airdrop the NFTs to eligible wallets. The NFTs can be traded on the marketplace, and we will randomly drop node NFTs to existing nodes. Node NFTs can sometimes show up in treasure chests inside Vulcan Verse.
Node NFTs can be traded on the marketplace. However, this involves a 12% trading fee. 50% of this fee (6%) is flowing into the node LAVA pools. The other 6% are being distributed as normal. Like any other marketplace sale.
There is an exciting opportunity for the world around you. You can choose to be an eco-friendly person and donate some of your rewards to the Elysium eco pool. It’s based on a percentage of your total rewards. We will buy trees with these funds and create a healthier world. You can of course also choose to receive 100% of the rewards for personal gain. If you decide to donate your tokens, you will receive:
- Your account will be rewarded with a special status. (based on your tier)
- Your in-game avatars will be granted a visual boost. (based on your tier)
- Your Myforge account will receive an exceptional achievement. (based on your tier)
- You will also be our eco VIP guest at Vulcan Forged and Elysium events. This will depend on the total period you donated. TBA.
- The legendary node bonus NFT has a significantly higher drop rate for eco-friendly nodes. The node tier will also play a significant role here as higher tiers donate more LAVA to the eco pool compared to lower tiers.
- Higher NFT drop rate for these nodes. The node tier will also play a significant role here as higher tiers donate more LAVA to the eco pool compared to lower tiers.
A minimum threshold applies if you want to become eligible for the rewards mentioned above. The amount you want to donate can be adjusted in Myforge. The minimum donation percentage is 2.5%.
PYR delegation to Cronus nodes
The Cyclops node is the smallest node available. 2.000 PYR is needed to run this Cyclops node. But what if you own 10 PYR, or 100, or 1.000 PYR? There is no node available for these amounts of PYR. In those cases, you can assign your PYR to one of the Cronus nodes (authority nodes). The Cronus node is eligible for rewards based on all the delegated PYR assigned to their node. The Cronus node will be able to share these rewards. All delegated PYR will be rewarded with an 80% base generation amount. The Cronus node owner will automatically pay 75% base generation to all delegators. The Cronus node owner will end up with a small profit.
The Cronus node will be free to organize events, airdrops, or quests to get more PYR delegators choosing their node. Some larger projects owning a node could perform free NFT airdrops for example.
We will create a dashboard for Cronus nodes. It will be possible to see the rewards these nodes offer you. The rewards can be LAVA and/or NFT-based. Most of the nodes will be operated by partner projects. As mentioned before, these partner projects can airdrop NFTs and/ or tokens to PYR delegators or award a LAVA bonus. This will be an exciting way to approach delegation in a modern and gamified way.
The node delegation can be done within Myforge.
As we learned in part 2 of the node program, we know that we can stake our PYR to gain Lava. The amount of lava is increased by:
– Staking a higher amount of PYR, in order to gain a higher node level
– Owning certain NFTs
– Locking the PYR for a set amount of time
– Owning the node NFT
How should we calculate the potential income?
Let’s assume these base numbers:
— 50.000 LAVA/day is being used as a gas fee on Elysium.
— 25.000 LAVA/day is being generated because of royalty revenue.
— 30.000 LAVA/day is being spent on land sowing.
– Some extra LAVA will be available because of the node NFT trading fee. More TBA.
With the above assumptions, Anna owns a Typhon Gorgon node. She has 24.000 PYR locked inside her wallet. She turned on the 120 days lock option on Myforge. Anna owns a Zeus, a Numatox, and two Alpha’s Vulcanites. She also owns the OG badge.
50% of the LAVA transaction fees are available for Cronus and Typhon nodes. That’s 25.000 LAVA.
40% of the royalty fee will be available for Cronus and Typhon nodes.
That’s 10.000 LAVA.
80% of the land sowing costs will be available for Cronus and Typhon nodes.
That’s 24.000 LAVA.
Total LAVA pool availability: 59.000 LAVA.
We are calculating based on shares owned for the total pool. Higher tiers, longer locks, more staked PYR, and more Vulcanites and Gods result in a higher amount of shares.
Anna has a Gorgon (Tier 4) node where she has 24.000 PYR.
She decides to lock her PYR for 120 days, giving her shares equivalent to 147% of the PYR she has locked up (24.000 PYR * 1,47 = 35.280 shares).
She has a Zeus which adds 15% to base generation. This increases her number of shares to 162% of the total PYR she has locked up (147% + 15%) (24.000 PYR * 1,62 = 38.880 shares).
She has a Numatox, a level 6 vulcanite that adds 2,25% to base generation, and two Alphas, a level 2 vulcanite that adds 1,25% of each vulcanite to base generation for a total of an additional 4,75% to base generation. This now increases her number of shares to 166,75% (162% + 4,75%) (24.000 PYR * 1,6675 = 40.020 shares).
Anna’s OG badge adds 2.5% to the total amount of shares (40.020 * 1,025 = 41.020,5 shares).
She has a Gorgon node NFT which adds an additional 10% to her total amount of shares (41.020,5 * 1,1 = 45.122,55 shares).
In this example due to the fact that Anna is the only one with Vulcanites and gods and locking the PYR etc, the total amount of shares is 9.976.400 + 18.962 = 9.995.362 shares.
Hence Anna earns 45.123/9.995.362 = 0,45143% of the available lava pool. This is in this example 59.000 LAVA per day. Anna receives 266.34 LAVA on a daily basis based on the above example.
Based on the 1 PYR=109 LAVA conversion rate right now is a 3.72% APY. (total earned yearly 97.214 LAVA while the investment is 2.616.000 LAVA)
This is just an example. The amount of LAVA Anna will receive will depend on the Elysium usage, the royalty fees, the sowing system income, and the node NFT trading fees. The number of shares for other node holders will have an impact also. Also, probably more LAVA routes for the nodes TBA.
Node NFT airdrop
On 1 July 2022, we will perform a snapshot for all wallets holding PYR. Node NFTs will be awarded to wallets holding 2000+ PYR based on the tier levels.