Couple Questions on Tachyon IPX staking and Pre-mining rewards

Hi @Rhea, thanks for sharing all the good Tachyon materials with us. Can you please help us to better understand the following IPX issues? Thanks so much!!

  1. Pre-mining Registration — It states “Only need an address to join the Pre-mining!” here: https://tachyon.eco/?n=yr8mtzfwee.Dashboard , so don’t you need to have any VSYS coins or IPX tokens in address to get rewards?
  2. Is states “Limited to 1,500 Nodes!” for the pre-mining process, and the “Progress” shows “0/1500” as 0.00% now, what does it mean? (but it mentions on Site that this is already an ongoing event)
  3. I see the “Staking Rewards” per day number of 136,986.30 IPX is the same as the number of the VSYS Staking 2.0 stated from https://medium.com/vsystems/staking-2-0-taking-spos-one-step-forward-to-enjoy-hassel-free-staking-in-the-vsys-ecosystem-6fc9c6e38686 . I don’t think the IPX Pre-mining event and the VSYS Staking 2.0 on IPX are the same, can you please clarify? How did you come up with the number?
  4. Minimum IPX requirement to run a node — it says 20,000 IPX on AMA article here: https://medium.com/tachyon-protocol/bithumb-global-kakao-community-ama-972f0921a513, but it says 200,000 IPX here: https://tachyon.eco/?n=yr8mtzfwee.Dashboard . Which one is correct?

Best of luck on launching IPX! Thank you!

Hi Libero,

Thanks for your questions! I’d love to help you slove these issues.
Q1. An address is just the first step. Provider node creation needs at least 200,000 IPX to qualify. You can create multi nodes according to the IPX amount in your address. Only provider node with IPX staking can get the pre-mining rewards. Please check the description and requirements on our pre-mining page.

Q2. Our Pre-Mining hasn’t started yet. This is a test page so the progress shows “0/1500” for now. Once the program is available, we will release an official announcement. You can follow us on Twitter or join our telegram group to get the newest update.

Q3. You are right. IPX Pre-Mining and V SYSTEMS Staking 2.0 on IPX are two different events. Pre-Mining is an incentive system in Tachyon network to encourage nodes development and activeness. And the rewards number you mentioned is staking rewards which comes from the annual 5% inflation and will last for 10 years. You can check the caculation on our page of “What is Staking Rewards" part.

Q4. It should be 200,000 IPX. Sorry for the mistake. We will correct it in the Medium article. And this staking number is adjustable with our network development. In concern of secruity, we set a high number of IPX stake at the early stage to improve the ability to defend against attacks. With the providers nodes grow, the number of IPX stake will decrease.

Hope these can help you!

Hi Rhea, very clear explanations! Thank you!!