About TrustBase Participating in KSM Slot Auction, What You Need To Know

With the approaching of the parachain auction, TrustBase has formulated a related bidding plan strategy: we will prepare for Kusama’s slot auction and combine the TrustBase verification node with the event.

In order to obtain KSM support from the community and other investors, TrustBase announced the first batch of verification node recruitment plans:

During the recruitment period, to enter the TBE verification node election list need you to non-destructive pledge your KSM:

a. Campaigning for “miner nodes” with block generation function requires a minimum pledge of KSM of 9,600,000 TBE

b. Campaigning for “ordinary full nodes” with accounting functions requires a minimum pledge of KSM of 6,000,000 TBE

c. We will collect statistics and rank according to the pledge amount. Participants ranked 1–15 will become the first batch of TrustBase miner nodes (super verification nodes), and participants ranked 15–30 will become the first ordinary full nodes of TrustBase (common verification nodes). After the recruitment is over, TrustBase will announce the results of the election and notify all nodes to work after the main network goes online.

Q: What about the participants after the 30th on the list?

A: We will not waste the enthusiasm of these supporters. 30+ supporters will be given to be the first batch of nominees of TrustBase, who can verify nodes for pledge without any threshold, and enjoy the maximum percentage (60%) allowed by the smart contract to receive the dividend block reward of staking equity. In addition, lucky members who entered the whitelist of nominees in previous activities also enjoy this right.

Q: How long is the term of the validating node? What can participants get during the term?

A: Although the TrustBase white paper has described this in detail, we still think it is necessary to answer, because the attractiveness of TrustBase’s verification node pledge behavior will be designed to be better than most liquid machine gun pools. The default term of the validator node is 6 months, and the proposal and voting behavior applied by yourself may change your actual working hours. During the term of office, validating nodes can get Staking rights, fee transfer income, full node network accounting rewards, etc., and they can also participate in various types of TrustBase chain legal institutions to participate in governance.

Q: Can nominators also get Staking rights?

A: Tribute to Polkadot! Yes, the relationship between the nominator and the verification node of the TrustBase blockchain is similar to the Polkadot NPOS mechanism-the verification node needs to set the dividends to all nominees under its name within a certain reasonable range (40%-60%) proportion. The nominator is the user who holds the TBE to participate in the investment verification node. When the verification node is rewarded or punished, the nominator will also be rewarded or punished at the same time according to the voting ratio. In fact, during the verification node recruitment period, we have some special and additional regulations for nominators.

We will open the verification node pledge interface on our official website (https://trustbase.network/) in recently, and stay focused to join this journey at the first time.

This allows the TrustBase platform to deploy smart contract solutions that support the Polkadot ecology.

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