SINOVATE Infinity Nodes (SIN) GOVERNANCE Proposal
Infinity nodes First Anniversary SIN HODL Coin Offering Program
Infinity nodes introduced proof-of-burn and infinity nodes to fight inflation and bring stability in the node network in June 2019.
Due to the nature of the nodes, The first nodes will expire in upcoming days and will open new opportunities of higher rewards for the current or new node owners.
We wanted to offer our community a limited time incentive program to earn SIN coins without dealing with setting up a node and paying for VPS.
We want to keep this as simple as possible for the inexperienced users to understand and follow the instructions easily to earn a passive income for their holdings.
1- HODL Coin Offering H.C.O. to earn Passive Income:
- Starting at hardfork, a 75 days limited marketing campaign to earn a passive income by Timelock(HODL) for 15% for 12 months and 6% for six months and 3% for three months.
- SINOVATE team will compensate the payments and interests from the development funds, so there will be no extra inflation in the supply.
- Twelve-month lock passive income is 15% yearly and monthly 1.25%.
- Six-month lock passive income is 6% yearly and monthly 0.5%.
- Three-month lock interest is 3% yearly and monthly 0.25%.
1.1 Here are examples:
- If you have 10,000 coins and send your coins to a new address, and the coins will stay there for three months (64800 blocks), you will receive 300 SIN.
- If you have 10,000 coins and send your coins to a new address, and the coins will stay there for six months (129,600 blocks), you will receive 600 SIN.
- If you have 10,000 coins and send your coins to a new address, and the coins will stay there for twelve months (262,800 blocks), you will receive 1,500 SIN.
1.2 Rules for HODL Coin Offering:
- The campaign will run for 75 days.
- The payments are paid for three months, six months, or twelve months options according to your choice.
- The upper limit of the Max Wallet amount is up to 75K SIN.
- There is no cancellation of the locked coins.
- Every user must wait for the maturity date of his/her lock period.
- All transactions and amounts NOT in these intervals will be ignored from our payment program.
- Thirty-two thousand four hundred blocks (75 days) is the duration of the campaign.
2- MINI Node Tier 100k SIN Reward Increase
Starting at hardfork, We propose for MINI Node 100K SIN Tier an increase from 160 SIN to 560 SIN of the reward for smaller investors to afford the profitable nodes.
- This proposal will increase node numbers in the network gradually to be ready for I.D.S. decentralized data storage.
- This proposal will create a very high number of nodes and a very high number of rewards for the early adopters.
- Increasing the MINI Tier rewards to 560 SIN will increase the node numbers by another 1000+ nodes for future I.D.S. storage needs.
- I.D.S. storage will depend on the number of nodes. More nodes in the network will allow for a faster and more significant amount of decentralized cloud storage.
- We already released an easy and fast cold node hosting method to help our users to set up their nodes. https://setup.sinovate.io/
According to Metcalfe’s law theory; “The more people in the network, the more value the network will have.”
Please join our discord server and go to the voting channel to cast your vote about our proposal. More details about the HCO and MINI reward increase will be discussed tonight at the Live Zoom AMA on SINOVATE YouTube channel and Discord server AMA channel.
Author: Amit Kaushal