Running a Node
What is a Node?
A blockchain exists out of blocks of data. These blocks of data are stored on nodes (compare it to small servers). Nodes can be any kind of device (mostly computers, laptops or even bigger servers).
Nodes form the infrastructure of a blockchain.
All nodes on a blockchain are connected to each other and they constantly exchange the latest blockchain data with each other so all nodes stay up to date. Through this constant update process they store, spread and preserve the blockchain data. A full node is basically a device (like a computer) that contains a full copy of the transaction history of a blockchain.
What does an NFT Arena Node do?
The role of Nodes in NFT Arena is to decentralize the process of validation and transaction of assets between the parties. In-game actions incur in no gas costs. Staking or unstaking NFTs does, and the transfer of assets that happens at the end of select custom lobby matches.
Rewards & Supply
How does a Node generate value?
There are three types of actions that Users initiate that bear costs, and part of those costs are pooled to generate the rewards shared by the nodes:
Staking/unstaking NFTs effectively means "making" them compatible playing cards with NFT Arena, rendering them available to be used as unique game assets. This action costs gas and features a markup cost. The markup contributes to node rewards.
Buying/Selling NFTs through our in-app store also contributes to the rewards shared by nodes through the revenue generated by the commissions on sales.
Tournaments feature the ability to add wagers with METAL tokens, other than the transfer of NFTs, as a consequence of the result of a match. A house fee of 1% on such wagers also contributes to the rewards distributed to node rights holders.
Total Nodes Supply
The total supply of nodes is capped in initial phases, to provide a greater incentive to early adopters for the purpose of promoting NFT Arena, but will increase significantly in the second year, and can be increased further down the road through voting in the Metalayer DAO.
Year 1: 500 Year 2: 2000 Year 3: uncapped
How to get one
To run a node for NFT Arena you need to get an NFT Arena authorization token. This is obtained by staking METAL on our yield farm.
Buy 50K METAL tokens from Uniswap v3
Pair them with ETH and add liquidity to the listing
Stake LP tokens on our farm to receive a synthetic token (used for governance & to get nodes)
Stake synth on NFT Arena's smart contract to receive the Node Authorization Token
Generate rewards!
Further details will be announced in due time and updated in documentation throughout.
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