The LatticeX Foundation is committed to promoting and developing the PlatON network and fully facilitating PlatON’s goals at all stages, making itself the most secure and stablest decentralized privacy-preserving AI network in the world.
As an important measure to maintain the stability and security of the PlatON network, the Foundation is pleased to officially release the “PlatON Validator Incentive Program”.
This Program aims to give back to validators on the PlatON mainnet for their long-term support and contribution, while further driving the sound development of the PlatON ecosystem and improving the security and stability of the mainnet. Through this Program, we hope to cultivate more validators that operate stably for a long time to work with us and draw new validators with outstanding abilities and great contributions.
We are well aware that, by staking and generating block consensus, validators lay the cornerstone for the network security and continuous operation of the network on the PoS chain. To keep nodes running stable for a long time, validators need to invest in high-performance hardware equipment and make all-around efforts in monitoring, operation, and maintenance. Both active validators and validator candidates make contributions to the continuous stable operation of the PlatON network, guaranteeing its stability and security and laying a solid foundation for the sound growth of PlatON.
As the PlatON ecosystem grows mature, the Foundation will expand or adjust the Program in due course. This Program is just the beginning, and we look forward to more joint efforts in the future to push PlatON to a new height!
The implementation details of the PlatON Validator Incentive Program are as follows:
Overview
The PlatON Validator Incentive Program is for PlatON mainnet validators. Based on the validator’s contribution to the PlatON mainnet, node reliability and stability, each validator who is online (including the active and candidates) and running the latest version will have a chance to be rewarded with LAT, the native token of the PlatON mainnet, for its cumulative contribution and long-term stability.
Targets
Validators as below will be the focus of the Program:
- High-quality nodes, with high stability and staking rate
- Nodes who have participated for a long time but have never produced a block
Requirements for nodes
To receive incentives from the Program, you need to be a validator of the PlatON mainnet first (with the node ID as the unique identifier of the validator), and keep the node running stably for a long time. You also need to meet the following conditions during the evaluation period:
- The node is online (including the active and candidates)
- The node version is the latest major version (with its first two digits of the version number consistent with those of the latest version)
You don’t need to apply for the Program. The LatticeX Foundation will evaluate the contribution and stability of all eligible validators during the evaluation period. (For how to become a validator on the PlatON mainnet, refer to the guide)
Execution plan and evaluation period
The PlatON Validator Incentive Program is tentatively scheduled to run for 3 phases, starting from Q2 2022 for a period of one year, to evaluate and incentivize all validators who meet the requirements. The first phase is from Q2 to Q3 in 2022, and each quarter thereafter constitutes a reward cycle. After the Program expires, the Foundation will comprehensively consider whether it needs to be adjusted or continued according to the development of the PlatON ecosystem.
Note: The evaluation period may be adjusted as needed. Please pay attention to the latest announcements
Rewards
The PlatON Validator Incentive Program has provided rewards for the cumulative contribution and long-term stability respectively, to encourage validators to take an active part in the consensus and maintain the stable operation for a long time.
1. Rewards for Cumulative Contribution
The rewards for cumulative contribution are based on the validator’s cumulative contribution during the corresponding period. The validator’s contribution is comprehensively determined by the total number of blocks produced by the validator, the staking amount and the number of delegators during the evaluation period.
The validator’s contribution is calculated as follows:
Validator’s Contribution = 40%*Total Number of Blocks / Maximum Number of Blocks + 30%*Total Staking Amount of Nodes/Maximum Staking Amount+ 30%*Number of Delegators/Maximum Number of Delegators
Total Number of Blocks: The number of blocks produced by validators during this evaluation period.
Maximum Number of Blocks: The maximum number of blocks produced by all validators included in the Program during this evaluation period.
Total Staking Amount of Nodes: The real-time staking by the validator upon the deadline of the evaluation period.
Maximum Staking Amount: The maximum total staking amount of all validators included in the Program during this evaluation period.
Number of Delegators: The number of delegators associated with the validator upon the deadline of the evaluation period.
Maximum Number of Delegators: The maximum number of delegators among all validators included in the Program during this evaluation period.
LAT rewards will depend on the validator’s cumulative contribution. The cumulative contribution rewards obtained by each validator will be linearly released to the validator’s staking account every month within 3 months.
Rewards are calculated as follows:
Cumulative Contribution Rewards = Baseline Reward * Validator’s Contribution
The baseline reward is determined by the total reward amount and statistics of each phase. The total reward amount for the first phase is tentatively set at 2,000,000 LAT. The Foundation will adjust the figure according to the ecosystem development in later phases. Please pay attention to the subsequent announcements for details.
2.Rewards for Long-term Stability
Rewards for long-term stability will depend on the stability of the validator during the corresponding evaluation period. The validator’s stability is comprehensively determined by its online duration, block rate, the number of penalties, and efficiency in version upgrades during the evaluation period.
The validator’s stability is calculated as follows:
a. If there is a version upgrade proposal during the evaluation period, then:
Validator’s Stability = Online Duration/Maximum Online Duration - Days of Upgrade Delay/100 + 100*(Block Rate-100%) - Number of Penalties/100
b. If there is no version upgrade proposal during the evaluation period, then:
Validator’s Stability = Online Duration/Maximum Online Duration + 100*(Block Rate-100%) - Number of Penalties/100
Online Duration: The time when the node is officially included in the validator list during the evaluation period. The time when the node is excluded from the validator list due to reasons such as being unlocked, penalized, and the version not being upgraded is not included.
Maximum Online Duration: The maximum online duration of all validators included in the Program during the evaluation period.
Days of Upgrade Delay: The time difference (days) from the day the upgrade proposal takes effect to the day the validator completes the node version upgrade. The submission of the upgrade vote or the version statement is regarded as the completion of the version upgrade, and the shorter one shall prevail when there are both.
Block Rate: The ratio of the actual number of blocks produced by the validator to the number of blocks that should be produced during the evaluation period.
Number of Penalties: The aggregate of the validator’s zero block generation penalties and double-sign penalties during the evaluation period.
LAT rewards will depend on the validator’s stability. Rewards for long-term stability obtained by each validator will be linearly released to the validator’s staking account every month within 3 months.
Rewards are calculated as follows:
Long-term Stability Reward = Baseline Reward * Validator’s Stability
The baseline reward is determined by the total reward amount and statistics of each phase. The total reward amount for the first phase is tentatively set at 2,000,000 LAT. The Foundation will adjust the figure according to the ecosystem development in later phases. Please pay attention to the subsequent announcements for details.
Reward release
The LatticeX Foundation will announce the winning validators and the rewards in the LatticeX Foundation forum within 7 working days upon the deadline of each evaluation period, and the rewards will be distributed within 10 working days after the announcement. If you have any questions, please contact us via support@platon.network within 5 working days of the reward announcement.
You’re welcome to propose questions, if any, in PlatON Discord Validator-#governance-discussion or in the forum.
