GEP: Additional Rewards For Farming [Closed]

#1

As mentioned in What is the real value of TFT we are absolutely not worried about the future price of the TFT but we do understand that farmers might need some additional booster to keep on being motivated and cover for some of their costs.

We would like to introduce the first farming booster which gives farmers 60% more farming rewards for the next 6 months if their node has been reserved as a dedicated node.

We are going to promote usage of dedicated nodes for

  • Uhuru (our first implementation of digital twin)
  • Pre-search
  • Pokt.Network
  • Development Node For Algorand
  • …

It will be very easy to get started with this and there is additional 60% discount for dedicated nodes as well as the suggested 40% discount as mentioned above, this will make it very attractive for our audience to use our ThreeFold Grid for these exciting usecases.

this feature will be implemented in Aug, and rewards from Aug forward can be adjusted in line to this booster.

We need at least 50 positive votes and +70% approval rate.

  • OK, I approve this booster and the mechanism as defined above
  • Not OK

0 voters

2 Likes
Incentive for farmers to attract workloads
#2

But these additional reward is only helping nodes that get reserved as a dedicated node. How will these help the other farmer helping the ecosystem with node setup but not getting any of their node reserve?

3 Likes
#3

Agree with @noretreat
It feels like there is still no real incentive for a farmer to attract workloads (apart from this suggestion, but reserving a node costs more then a vm). If you currently have no public IP’s (which means most farms) you rather have no workloads to not have a more expensive electricity bill. No workloads currently means more profit as a farmer (correct me if i’m wrong).

If you have public IP’s and have setup the networking correctly for the nodes, even then the extra profit for public IP’s + traffic is not a lot extra if you attract workloads.

If we can provide a farmer with 60% extra tokens for a reserved node, can’t we give all farmers some % for reservations? Or give a farmer a discount for his own reservations? …

I have two friends involved in Threefold. One as a farmer, one as a developer. The developer is building a new UI to easily deploy on the grid. Together they got the idea that if the developer can provide workloads on the nodes of the farmer, if the farmer got rewards for that maybe the developer can get a % of those. So the Farmer gets more workloads (aka profit), and the developer gets a % of the farmer if workloads go via his UI (aka smart contract). This could lead to some nice cooperation and interactions between community members.

I think there should be a very strong incentive to attract workloads. The goal after all is to provide usable grid infrastructure, not print tokens. The tokens are the incentive that results in usable grid nodes, and these nodes will build the grid that in turn can be utilized.

5 Likes
#4

I agree but Rome has not been built in 1 day (-:
suggest to do this first step and then evolve from here

2 Likes
#5

Great to hear! I’ll start a topic around developer and farmer workload incentive, so we can construct some ideas how the community wants to see this implemented in the future.

#6

Can you direct me to a how to on where/how I would reserve one of my nodes as dedicated?

2 Likes
#7

Hi @ParkerS, reserving a dedicated node on mainnet can for now only be done via the Polkadot UI by reserving a rent contract. A UI for this is being build in the Dashboard. The node you want to rent has to have no workloads though. If you want find us on the Tester chat and we’ll guide you.

#8

there is dashboard function for it its in 3.6 which is on testnet now.
moving to mainnet maybe today

#9

Is this GEP is allready accepted and will run from August?

#10

Is this still going? Or has it even been implemented yet?

1 Like
#11

Hey @teisie, just got a confirmation that this is yet to be implemented as we are still working around it.

#12

the GEP is approved for sure, the dedicated nodes is working, we since 3.8 have the TFGrid solutions and other billing modalities in the chain.

We now can implement this one, we have engineering meeting this week, will discuss for which release we can do this.

there are other mechanisms we are working on to get more rewards to farmers, hope to have more info about this soon

#13