Ontology Stake Authorization Update History

  • On February 5th, 2019,the Ontology team has informed all nodes to start an urgent upgrade of the stake authorisation on the MainNet.

    There are three major releases of the node staking authorization on Ontology:

    1. The Ontology has completed two rounds of candidate node. The node staking rules are as follows: candidate nodes promise to stake a certain amount into the node, which cannot be less than the promised value (PromisePos). The node can only increase the staking, not reducing the original staking.

    2. The stake authorization of Ontology MainNet was upgraded on September 29, 2018. After the upgrade, all users can participate in the stake authorization. If the node wants to get more compensation, it can increase its staking in the following two ways:

    1)By increasing the initial stake of the node, which is InitPos;

    2)By accepting the authorized stake from individual users, which is TotalPos.

    The total node staking including the added staking is used as the basis for fee-sharing. The total stake amount is called TotalPos.

    3. In line with the Ontology dApp incentive models, Ontology planned to open a third round of nodes recruitment to encourage well-performing dApps developers and operators to become “Ecosystem Nodes”, different from nodes in the first two rounds that are more operational. The requirement for its staking will be lower than nodes in the first two rounds (more details will be released soon).

    In order to balance the compensation of nodes, the Ontology Foundation plans to adjust the original node incentive plan (10 million ONT incentive for the initial three years), into the following: 70% will continue to be used to encourage nodes in the first two rounds, while the other 30% will be used to encourage ecosystem nodes.It allows nodes to reduce InitPos, and the reduced InitPos cannot be less than PromisePos (the initial staking value when the node first passed the application process).

    During stake authorization, the node owner can only increase the node staking value by increasing its InitPos, and accept the authorized stake from individual users, not the node itself.

    This feature was originally planned to be released around March 2019, however, it has been urgently upgraded due to a temporary reconciliation issue.

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