Comparison V2 vs V3 minting

We get a lot of questions on how V3 minting compares to V2.

The main difference is:

V2 minting: Monthly farming rewards in TFT go down over time. Right now its about 2.2% monthly decrease. This monthly decrease would get higher if the TF Grid grows.

V3 minting: Monthly farming rewards in TFT stay the same for 60 month. The monthly amount is calculated based on the TFT price at the start of farming.

Net net the total farming rewards for existing nodes migrating to V3 are better than in V2 if we look at a 60 month period.

Here is an example for a Titan V2.1:

image

Please note that the TFT price at the start of farming is USD 0.08 for Q1 2022. This might change in the future.

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So

Blue v.2
Red v.3 un-certified
Yellow v.3 certified

Thanks for this. That will answer much questions on the chat!!

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anytime. thanks for clarifying the color coding;)

Timeline on when we would be able to migrate Titan v2 and v2.1 to grid 3?

very soon. We are running the final tests and prepping manuals. Keep you posted on the telegram channels. Thanks for your patience.

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I understand not turning off V2 since there are people with Titans who just might not get the memo (at least not immediately). But I do believe further registration of nodes onto V2 should be stopped ASAP! It makes no sense to reward node owners for adding capacity on a network where it will not be utilized. Heck, short term they are even incentivized to do exactly that.

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Hi
What is the difference between certified and uncertified?

Certified 3nodes get 25% more rewards. They need 97% uptime compared to 95% for uncertified.

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Thanks for the info. I didn’t know about it. I will make sure my system is up above 97%.

Copy/pasting here in case folks didn’t read/receive this email. Received on 2/11.

Dear ThreeFold Farmer,

Since we are now live on TF Grid 3.0, it is important that all farmers who are still on Grid 2.x migrate their farms to the newest mainnet.
Moving to Grid 3.0 will have a beneficial impact on your token rewards (see comparison Comparison V2 vs V3 minting) and will make sure the grid is fully updated to its latest version.

We have made it easier for you to migrate your farm through the ThreeFold Connect app. Please follow these steps:
Open your ThreeFold Connect app and go to ‘Farmers’ on the left-hand side menu. Make sure to have your USB in the node and it is powered on / connected to the internet.
Select the farm you want to migrate to Grid 3.0. If the wallet that is connected to your farm is imported into your app, you should see it right away. If not, please add your wallet to the app first by tapping the + sign in the wallet section and entering your wallet seed key.

Accept the terms & conditions and submit.

Once this is done, we have all the information needed to migrate your existing nodes to this new farm on Grid 3.0. Your nodes will appear in the app under your farm as soon as they are migrated in the coming weeks.

During the migration process, your node will still generate tokens on V2 until you are fully migrated.

Please be aware that the farm creation in the app might take a couple of minutes since there might be a lot of activity at the same time on the blockchain.

If you have any questions, please feel free to reach out to us on the live chat in the ThreeFold Connect app or on our website www.threefold.io.

Happy farming!
The ThreeFold Team

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these instructions are not clear

“Open your ThreeFold Connect app and go to ‘Farmers’ on the left-hand side menu”

I do not see where this is on the app!

“Make sure to have your USB in the node and it is powered on / connected to the internet”

what does this mean, what USB?

my Titan is running with Ethernet and connected

I cannot find any clear instructions on your website either

please provide clearer instructions!

Please click the “hamburger”.

image

And then click Farmers

image

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the USB stick is this (or something that looks like this):
image

It should be in the package of you Titan and it has to be in of of the slots of the Titan.

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Cable based network (Ethernet) connected to your internet router is perfect. So you are all done! Just make sure you have the USB stick in one of the slots (front or back does not matter) and then turn the Titan on. All done (really plug and play, no mo instructions needed…) :slight_smile:

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And what is on the stick?

The stick contains a so called boot-loader. It’s less than 2MB (yes Megabyte) in size and provides instructions to the server / hardware to enable and configure the NIC’s and then an address to start downloading the OS image.

Nothing with regards to the OS is on the stick, when full booted you can remove the stick and keep it somewhere safe. Also - the stick does not contain any information with regards to you / your wallet. It only has the Farm ID which couples you server to you farms definition (which has all the information to sent the minted tokens at the end of the period to).

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how to become a Certified 3nodes ?

Currently only Titans are certified.

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