Here at MystNodes, our team is thrilled to announce that today we’re rolling out a new feature of the MystNodes app – a new reward system that will revolutionize how our beloved node runners make money. Let’s get into it!
MystNodes Rewards System is designed to collect points that later are converted into MYST tokens, node runners can earn points in a few different ways, and at the end of the month, they can swap their points for MYST tokens and take a share of the monthly reward pool.
Points
Points are distributed on a daily basis and are converted into MYST tokens at the end of that month.
There is no fixed MYST-per-point rate.
The total number of collected points is displayed on your Reward dashboard.
The value of each point depends on:
Total monthly reward pool.
Total number of participants.
Total number of points accumulated by all participants.
Rewards Pool
Rewards pool runs on a monthly basis, the total amount of MYST tokens available in the pool and it's time-to-live period is displayed on your Reward dashboard.
Distribution Dates
At the end of every month, the MystNodes reward pool will be distributed to all participants in the reward system. Once the rewards (points that can be turned into MYST) are distributed, you have 30 days to claim them in the Rewards page.
If you don’t, all unclaimed rewards are forfeited and go back into the pool for next month.
How to get points
Participants can accrue points in 3 ways:
Holding / Buying MYST Tokens
Participants must hold at least 100 Myst tokens to start accruing points from token holdings.
The more Myst tokens a participant holds (above 100), the more points they earn.
Data Transferred
Points are earned based on the amount of data transferred. Connect more nodes to share more data and thus acquire more points.
Higher data transfer results in more points.
Uptime
Points are earned based on uptime. Nodes must be online at least 14 hours per day to earn points. Running nodes 24/7 maximises point earnings.
Note! Not all modules contribute equally to the final point balance.
Each module type has a specific weight.
Points earned from a module are multiplied by its assigned weight.
Performance metrics
You can track your progress across four key areas:
Uptime. Average percentage of time your nodes were online and operational in the last 24 hours.
Data Shared. The total bandwidth you've shared with the MystNodes network in the last 24 hours.
MYST in Wallet. The current balance of MYST tokens in your connected wallet.
Active Nodes. The maximum number of nodes you had running and connected to the network in the last 24 hours.
Leaderboard
At the end of each month, the leaderboard will show the top performers along with their earned points.