Dear Ontology Triones Nodes,
In accordance with the newly released Ontology’s refined economic model, the node incentive policy will be updated and become effective from July 7, 2020 (UTC).
After the refinement, the ONG income generated from the node staking is relatively large. If you keep the original allocation rules, it may cause a great effect on the income for nodes like yourself.
Therefore, it is recommended that each node should estimate its own income and choose to adjust the income distribution coefficient independently by June 30, 2020 (UTC) in accordance with the attached Ontology Stake Authorization Guide (Nodes).
It is worth noting that the distribution coefficient is set in the T0 cycle and takes effect in T2 cycle. Please make sure you have completed the setting in advance to avoid affecting your own income.
To help you understand the changes before and after the refinement, the following examples are provided:
If we assume the total staking of a candidate node is 400,000 ONT (including node’s own staking and users’ staking), with a 20% user income distribution ratio.
Under the old rules, only fee portion was allocated to users. Therefore, all handling fees received by the node is around 450 ONG per year, and the portion allocated to users is about 90 ONG per year. (For details, please refer to
https://node.ont.io)
Under the new rules, users receive shares of fees and released ONG income. The fee received by the node has not changed much, about 450 ONG per year. If the total staking amount for a candidate node is 15,000,000 ONT, then the released ONG income will be around 420,000 ONG per year and the portion allocated to users is about 84,000 ONG per year.
You can refer to “Ontology Staking Incentive Calculation_202006” to roughly estimate the real-time¬ income.
*Ontology nodes incentive calculation tool will also be released on 2nd July 2020.
For more details about Ontology’s governance and staking economic model update, check here:
https://medium.com/ontologynetwork/continuing-to-refine-ontologys-governance-and-staking-economic-model-4c0c9cce1f51Thank you for your support and cooperation. Should you have further questions, please contact us via contact@ont.io.
The Ontology Team
June 30, 2020
