MasterNode Staking And Voting

Masternode Details

Does Wethio have Masternodes? How do they work?

Yes, a maximum of 157 masternodes can be elected in Wethio’s masternode committee. Masternodes are equipped with Proof of Stake Voting (POSV) consensus for low transaction fees, and instant transaction confirmation. Masternodes can create, verify, and validate new blocks on Wethio’s platform.

  • Masternode Candidates: Any account can deposit 17,000 ZYN using WethioMaster to become a Masternode candidate. A candidate can resign from the masternode committee, but the deposit amount will only be unlocked after 30 days (1'296'000blocks) from the date of resignation

  • Becoming a Masternode: A Candidate becomes a Masternode when he/she belongs to the top 157 most voted Candidates in each epoch. A Masternode can resign anytime, but the coins will be locked for the next 30 days after the resignation

  • Rewards: The rewards a Masternode receives in each epoch is directly proportional to the number of signatures it signs

What is a Masternode in the Wethio ecosystem?

A Wethio Masternode is a server which contributes to the network using its computing power. Its task is to create and sign blocks for which they would receive rewards in the form of ZYN. Masternodes are elected using the PoSV consensus via our governance Dapp WethioMaster

What are the incentives to run a Masternode?

Masternodes contribute to the network and receive a significant amount of block rewards for the same thus resulting in surpassing the cost of running the infrastructure. However, Masternode owners need to invest in Wethio by depositing a minimum amount of 17,000 ZYN and stake them for the long-term.

After the initial deposit, if an account fails to become a Masternode (i.e. has fewer votes than the top 157 most voted candidates), they are not liable to receive any rewards. Therefore, candidates are incentivized to do as much as possible to show their support to Wethio to become one of the top 157 most voted candidates.

Where will the Masternode rewards come from? Will they be from the DEX?

The block rewards will be shelled out from the 8.5 million ZYN reserved for the next 8 years - this was decided since the genesis block. And then, later on, the revenues from the DEX will benefit the Masternodes as well.

When are Masternode rewards paid out?

In every epoch, masternode operators and voters will receive rewards. An epoch is a 900-block period of 2-second block time (~30 minutes).

How can I check my rewards?

You can check your Masternode/staking rewards in WethioWallet. Alternatively, you can use WethioMaster or WethioScan.

To get an estimate of rewards you would receive when voting a certain amount of ZYN, you can visit (\link)

How many rewards will Masternodes receive?

Each epoch consists of 900 blocks, which will reward a total of 125 ZYN in the first two years. This amount of 125 ZYN will be divided among the Masternodes in proportion to the number of signatures they sign during the epoch.

Example: With only 25 Masternodes and equal performances, every Masternode would be rewarded with 10 ZYN. With 125 Masternodes, each one would receive 2 ZYN per epoch.

How much reward from Masternodes will go to the Masternode infrastructure (node owner) and how much is for voters?

There is a reward sharing ratio between the ZYN holders and masternode who has been elected by the ZYN holders. The reward earned by each Masternode gets divided into three portions:

Infrastructure Reward: 40% of the reward earned goes to the Masternode operator

Staking Reward: 10% of the reward, deemed as Staking Reward, goes to the pool of all voters for that Masternode which is shared proportionally based on the staked amount. The Masternode also gets proportional rewards for his 17K ZYN initial deposit.

Foundation Reward: The remaining 50%, called Foundation Reward, goes to special accounts controlled by the Wethio Foundation, to aid in the development of Wethio.

What is the expected ROI for Masternodes and Stakers?

The rewards for every Masternode are dynamic and depend on multiple factors like the number of Masternodes in the network, the efficiency of signing blocks, the total number of votes on each Masternode. The most efficient Masternodes signing blocks will receive higher rewards.

Masternode Candidate

What is a Masternode Candidate? What is the difference between Masternode Candidate and Masternode?

A Masternode Candidate is any node who has deposited 17,000 ZYN and is listed on WethioMaster. One significant difference is that a candidate only becomes a masternode when he is one of the top-157 most-voted Masternode Candidates in an epoch. Only these elected Masternodes will be able to sign blocks and receive block rewards.

How can I become a Masternode?

The first step to being elected as a Masternode is becoming a Masternode Candidate. Fulfill the below requirements to become a masternode candidate:

  • Run Wethio software in a machine fulfilling minimal hardware requirements

  • Deposit 17,000 ZYN in a smart-contract via WethioMaster

The list of Masternode Candidates will be available on the governance Dapp, WethioMaster. The next step is to be elected as one of the top 157-most-voted Candidates.

Do I need to use my own computer to run a node?

We recommend using an IaaS ("cloud") provider of your choice (like Amazon AWS, Digital Ocean, Google Cloud GCE, Vultr, etc). This comes with some prerequisites such as the machine must be directly connected to the internet (public IP, no NAT) and with 100% uptime.

Which are the hardware requirements to run a node?

CPUs are at the heart of processing transactions. Therefore we recommend running CPU optimized servers fulfilling the below-mentioned requirements:

  • Directly facing internet (public IP, no NAT)

  • 16 cores CPU

  • 32GB of RAM

  • SSD storage

Owing to their high reliability and an uptime close to 100%, we recommend using famous cloud providers. These servers would be a good starting point: DigitalOcean: CPU optimized droplet 32GB/16CPU Amazon EC2: C5 instance Google Cloud Engine: n1-highcpu-16

You might experience a poor performance if you set up a masternode candidate on a weaker machine. As a result, it may impact the owner’s rewards and overall chain performance.

Note: If you are running a node in Testnet, 2CPU/8GB of RAM is sufficient.

How do Masternode Candidates become Masternodes?

Upon becoming a Masternode Candidate it is necessary to get the support of the Wethio community in the form of votes. Since the top 157 most voted candidates every epoch (900 blocks of 2-second block time) will become Masternode, it is essential to get the most votes. The list will vary every epoch and the 157 elected masternodes will be able to sign blocks and receive rewards in the form of ZYN.

Do I need two wallets to run a Masternode?

For security purposes, we recommend using two wallets, one for your Masternode, and the other to make the 17K deposit (this account will receive the rewards).

You can create your wallet from wherever you want, the only rule is that you need two of them.

What is the 'coinbase address'?

It is the public address used to run your node and register it to the system.

We recommend using two addresses when running your nodes. While the coinbase address will only receive the transaction fees, the private address is the one where the initial 15K ZYN is deposited and the block rewards will be accepted.

I noticed that we need another wallet for Masternode with a different mnemonic. Suppose we use a hardware wallet, would we need another hardware wallet with a different mnemonic?

As the public or ‘coinbase address’ only receives the transaction fees, we would recommend using a separate empty account for your Masternode. Also, the ‘private’ address is entitled to receive the block rewards because it is connected to the WethioMaster to make the initial deposit.

I have finished all steps of setting up the node. Why can’t I see my node on WethioMaster?

Upon finishing the node set up, you must apply from the WethiMaster to become a Masternode Candidate. Once done, your node will appear on the candidate’s list.

Do I need to deposit the 17K ZYN before or after running my masternode?

After running your masternode you can deposit the 17K ZYN. The only condition is that your node must be fully synced before applying.

How do I check the blockchain sync status from the node?

Either you can check the logs or access the eth.blockNumber API call.

If the Masternode owner deposits 100K ZYN instead of 17K on its own node, can it, later on, unstake the excess Zyn?

Yes, it can.

How can I change my node's name?

You can do it on WethioMaster. Follow the steps if you are logged in WethioMaster with the owner account: 1. Go to your Masternode page on WethioMaster, 2. Click next to the Masternode name to edit info.

My node status is 'Proposed', will it change status with the next checkpoint?

Yes, if you are in top-157 most voted.

Why is a node flagged as 'Slashed'?

Yes, if you are in top-157 most voted.

Why is a node flagged as 'Slashed'?

Slashing v2.0 is to penalize (no rewards) a masternode who doesn’t create any block within an epoch and as a result causes a network delay of 10 seconds at each of their turns for the next five epochs.

Note: A slashed Masternode can still sign transactions if he’s online but receive no rewards for doing so.

After being slashed for 5 epochs, the Masternode is analyzed for re-entry. If the slashed Masternode has signed any transaction during the last epoch (meaning that he's up and working again) it will regain its Masternode status and start to receive rewards normally. On failing again, it will be slashed for a new round of 5 epochs. The process repeats as long as the node isn't backed up or kicked out of the top 157

Other reasons that a Masternode is Slashed:

  • Incorrect Wethio software

  • Lack of memory

  • Crashes due to the lack of e-maintenance and operations by the owner

How many nodes am I allowed to run?

You can run as many nodes as you can

How can I resign as a Masternode?

Resigning as a masternode is a fairly easy process if you no longer want to be one. You can resign on WethioMaster and once you do it, your funds will get locked for 30 days (1,296,000 blocks) and you won’t be generating any rewards. You will only be able to withdraw the 17K ZYN deposit once the lockup period ends.

Can I close the node entirely, then start a new one with a totally separate coinbase address without being penalized?

No, you cannot do that. When you close a node it will be penalized (15K initial deposit 30-day lockup) and your new node has to apply again.

Is it possible to move a Masternode later, like backup and start it from another IP address?

Yes, it is possible.

What if I do not have enough ZYN for a Masternode? Can I stake my ZYN?

Yes. You can stake ZYN and receive rewards.

To stake ZYN you need to vote for Masternode Candidates by sending ZYN to each candidates specific voting-address using the official governance Dapp WethioMaster. The top-157 most voted will become Masternodes. ZYN holders can also un-vote Candidates, but the coins will be locked for the next 96 epochs / 8,640 blocks (approx. 48 hours) after the un-voting.

As a part of the staking program, masternode initial deposits and all coins used to vote for masternodes will get an entry to earn block rewards in each epoch plus any fees. ZYN used to vote for masternodes who are not among the 157 most voted candidates will not be eligible for staking rewards.

Voter/Staker

What does Voter Incentive mean? Do Voters receive incentives as well?

Essentially, voters cast their votes for candidates (nodes) whom they believe in, i.e. candidates who are capable and show strong support to Wethio's ecosystem. When strong candidates receive most votes to become Masternodes, the voters who have voted for them receive rewards and incentives while making the network more powerful.

Is it possible to stake ZYN?

Indeed, you can easily stake ZYN and earn more ZYN in the form of rewards.

How to stake/vote ZYN, by only holding on my wallet?

Users need to take part in the election of Wethio masternodes to actively stake in Wethio’s ecosystem. To do so, they need to deposit their coins in an advanced voting smart contract and vote for Masternode Candidates through WethioMaster.

Visit this link to login into your wallet to WethioMaster and click the 'Vote' button on a node to vote it.

How does the mechanism behind the Wethio Masternode Proof-of-Stake-Voting (PoSV) work?

The complete list of Masternode Candidates is available on WethioMaster for users. You can check it anytime. Also, it is easy for all ZYN holders to vote ZYN on any Masternode Candidate through WethioMaster. Now, to cast a vote, voters must use WethioMaster to deposit ZYN to a voting smart-contract linked with the voted candidate. At the start of next epoch, the top 157 most-voted candidates get promoted to Masternode candidates. On becoming a Masternode candidate, they will be able to sign blocks and earn high rewards.

Additionally, all voters who voted for elected Masternodes will be entitled to receive rewards. The rewards will be equal to the amount of ZYN votes as well as the efficiency reputation of a Masternode.

What is the process to vote(stake)?

ZYN holders can easily use their ZYNs to cast their votes. Follow these steps: 1. Login to WethioMaster 2. Click the 'Vote' button next to a candidate node 3. Enter the amount of ZYN you wish to vote (minimum is 10 ZYN).

Simply put, users vote by depositing(staking) ZYN tokens to a voting smart-contract linked with a Masternode Candidate.

What are the criteria I must consider to vote/stake for Masternodes? How do I choose among these Masternode Candidates?

The following are the key points to consider that can maximize voter profit:

Top-157 Most Voted Masternode Candidates: Consider the candidate's capability to be one of the top-157 most-voted Masternode Candidates. If your candidate fails to get a spot in the 157 most-voted candidates' list, it will be referred to as an asternode, thus, enabling you to earn zero rewards.

Hardware Capabilities: To make the nodes work efficiently and enable users to receive greater rewards and incentives a high-performance system comprising powerful RAM, CPU, bandwidth, latency, etc., is recommended

The number of signed blocks: More is the number of signed blocks every epoch, the higher the reward generation

Last timing of a signed block: Check and verify if a Masternode is active or not

Total Capacity: Voting/staking rewards are distributed among all the Masternode candidates. A Masternode that has received fewer votes is more profitable here. If you stake 5K on a 50K-stake worth of Masternode, you might receive ten times more rewards than staking 5K on a 500K-staked Masternode.

Reputation rating and Social Proof: Consider Masternodes that are managed by trusted and established companies and are for the long term. Companies that maintain the Masternode, update their hardware and software to last versions, resolve issues, etc.

What if I want to vote for multiple Masternode Candidates?

You can select as many candidates as you wish and accordingly split your ZYNs to vote for the selected candidates.

What is the minimum amount I can Stake/Vote?

The minimum amount you can stake/vote is 10 ZYN.

Which hardware-wallet can I use to vote?

You can use hardware wallets (Ledger, Trezor) with MyEtherWallet or Metamask. Another way is to directly connect to the Wethio platform with Ledger/Trezor and vote on WethioMaster.

Can I re-invest the ZYN earned during an epoch and use it to continue voting for more Masternode Candidates?

Yes, you can.

Is it possible to stake the earned rewards again in an automated manner?

Unfortunately, Wethio does not support this as of now.

In case if the Masternode I voted stops working, can I expect to get my invested ZYN back?

Yes, you can. There is a provision to unvote that Masternode and get your coins back after 96 epochs (approx. 48 hours) lock-up period.

What are the steps to Unvote?

Revoking your support for a Masternode you staked for is quite easy. Follow these steps:

  1. Click the 'Unvote' button next to a Masternode's Candidate's page.

  2. Enter the numbers of ZYN you want to unvote and it's done.

Users must note that the ZYN will remain locked in the voting smart contract for 96 epochs (approx. 48 hours) before it is available for withdrawal. Upon the completion of the lockup period, you can click the ‘Withdraw’ button, and automatically, you can see the coins in your wallet.

What is the withdrawal process after unvoting?

Once you have unvoted some amount of ZYN, you need to wait until they are released from the smart contract (96 epochs, approx. 48 hours). Once released from the smart contract, you can visit the WethioMaster and click the 'Withdraw' button in your account page (the three vertical dots on the top-right). Now, you can select the withdrawal for which you want to receive your ZYN back.

Note: If you have done multiple unvotes previously, you might experience multiple withdrawals on your account page

Last updated