FAQ about ordinary users participating in TrustBase slot auctions
1. How do ordinary users participate in TrustBase slot auctions?
Method 1: Users can participate in the Crowdloan campaign in Kusama and pledge KSM to help TrustBase win the auction. When TrustBase wins the slot auction, users can get KSM rewards; when the slot rental period ends, users can unlock all KSM. If TrustBase fails to obtain the right to use the slot through the auction, the KSM pledged by the user will be unlocked and returned at the end of the campaign.
Method 2: The user selects a node to pledge KSM on the TrustBase official website (https://trustbase.network/),become a “coin host”. When TrustBase wins the slot auction, users can get 80% of the official rewards of KSM and TBE rewards; if TrustBase fails to pass the slot auction, users can still get TBE rewards, and the KSM will be unlocked and refunded at the end of the campaign.
2.The annualized revenue of nodes on the official website list ranges from the highest 133% to 50%. How is this rate of return calculated?
We have designed a corresponding model based on the block data of the TrustBase mainnet blockchain. Specifically, the block generation time of the TrustBase mainnet is 6 seconds, and the unit block generation reward is 3.8 TBE. These rewards will be distributed by verification nodes, law enforcement nodes, and nominators in a certain proportion. Since the first batch of verification nodes recruited by this verification node has the existence of “coin east”, we temporarily calculated part of the block revenue that originally belonged to the nominator, and obtained the different years of the verification nodes with different rankings according to a certain APY
3. Can ordinary users enjoy the same annualized income as node?
Regardless of whether TrustBase wins the auction or not, users staking KSM during the slot auction period can earn profit. The user chooses which node to pledge KSM, and enjoys the same annualized TBE income as the node (ranging from 50% to 133%).
If TrustBase wins the auction, there will be additional KSM rewards, which will be determined by the official KSM rewards.
4. Can the pledged KSM be withdrawn at any time?
The KSM pledged by ordinary users will be locked. After the slot auction is over, KSM will return the original way to the user.
Note: If TrustBase wins the slot auction, the KSM of each node will continue to lock up positions.
5. How many TBE counts as a pledge of 1 KSM?
When calculating the annualized income, pledge 1 KSM to obtain the currency right of 800 TBE, which is used as the principal of the TBE currency standard annualized income. For example, if you pledge 10 KSMs, it is 8,000 TBEs. If the annualization of the node you choose to pledge is 133% and you pledged for 30 days during the slot auction, then your income will be 8000×133%×30÷365≈874.5 TBE.
6. When is this benefit calculated?
Starting from the closing of the pledge channel on the TrustBase official website until the end of the slot auction, all pledges can obtain annualized income for the actual pledge days.
7. What happens if TrustBase successfully bids for slots? What if it fails?
1) Successfully bid for the slot on TrustBase:
KSM pledged by all nodes will continue to be locked, and at the same time they will officially become TrustBase mainnet nodes and start working, and continue to receive KSM and TBE rewards.
All the KSM pledged by ordinary users will return to the original way and receive TBE and KSM rewards for the actual pledged days.
2) TrustBase has not won the bidding slot:
All nodes and ordinary users pledged KSM will return to the original way, and at the same time receive TBE rewards for the actual pledged days.
8. When will TrustBase open the KSM pledge channel?
It is expected to open next week.
9.How do ordinary users become super verification nodes/ordinary verification nodes?
1) To become a super node, two conditions must be met at the same time:
More than 800 KSM pledged;
Ranked 1–15.
2) To become an ordinary node, two conditions must be met at the same time:
The pledge amount is more than 500 KSM;
Ranked in the top 30.
Fill in the node election intention:https://jinshuju.net/f/l1VP7a (leave your contact information)
If you have more questions, please feel free to contact us:
Twitter: https://twitter.com/TrustBase_Net
Telegram: https://t.me/TrustBasenetwork
