NEP-45: NewChain Ledger Node Incentive Program

TitleNewChain Ledger Node Incentive Program
Author(s)Xu Jizhe, Aris AC, Vie Yang
Discussions To
CategoryCommunity Governance

Simple Summary #

This NEP defines how NewChain Ledger Node Incentive is used from Newton Incentive Program in NEP-40.

Motivation #

NEP-40 proposed Newton Incentive Program and a 20% of NEW from that program will be used to NewChain Ledger Nodes. A specification of implementation is required for that, which comes to this NewChain Ledger Node Incentive Program.

Specification #

Prerequisites for Ledger Node #

  1. Having an active Community Node.

  2. At least 10,000,000 NEW of total staking in the Community Node.

  • For the partnership node, the total staking is added by the staking of the owner and the staking of the partners.
  • For the non-partnership node, the total staking is staked by the owner.
  1. Run a NewChain Node and apply to become the Ledger Node on NewChain Mainnet, details described in NEP-27.

Incentive Distribution #

The Incentive to Ledger Nodes is distributed each day until the Incentive Program end.

Only the owner of the Ledger Node will receive the incentive since it is the owner who manages the Ledger Node.

Incentive Period #

Incentive_Period: total days since Incentive Program implemented on NewChain Mainnet until 2022/1/31 (included).

Total Incentive Amount #

Total_Incentive: 175026053.57892763572 NEW, which defined in NEP-40.

Total Daily Incentive Amount #

Total_Daily_Incentive = Total_Incentive / Incentive_Period

Owner Staking Amount #

Owner_Staking: The amount of NEW staked by the owner of the Ledger Node.

Total Staking Amount #

Total_Staking: Total amount of NEW staked by the owners of All Ledger Node.

Staking Snapshot #

The staking amount for each Ledger Node is based on the snapshot of the first block created after UTC-0 each day.

Node Daily Incentive #

For each qualified Ledger Node, the amount of NEW from NewChain Ledger Node Incentive Program on each day:

Node_Daily_Incentive = Total_Daily_Incentive * Owner_Staking / Total_Staking

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