STATICs And More

STATIC node registration

Due to programming requirements and our forthcoming “main-net” activation, we’re announcing that STATIC node registration will be open soon.

In anticipation of this event, we’re providing answers to several frequently asked questions below:

What is the estimated rewards percentage?

The founders have designed a system that provides exceptional flexibility and maximum payouts to the STATIC owners. As such, it utilizes a rewards system that initially pays 100% of all fees to the STATIC network.

Internally, the XTRABYTES corporations will earn money through licensing fees. By doing so, we will not have to adjust payout percentages for STATIC owners.

Every Dapp, protected element, and the tech itself will have licensing fees attached to it. For example:

  • Use of patents or patent pending technologies will require a base fee of 10-25% of the fees received by your STATIC node.
  • Each Dapp you host will result in a fee of 5-15% of the fees generated by the Dapp.
  • Trademark usage will be covered by a 2-7% fee charged against all fees received by your STATIC node.
  • Corporate and legal expenses will be covered by an additional 1-3% fee based on all activity and fees generated by your STATIC node.

Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.

This payment model is designed to stimulate adoption of the XTRABYTES Platform. As such, we employ smaller fee percentages to help STATIC owners generate greater profit early on.  

As our network expands and more individuals, businesses, corporations, and institutions begin to utilize our technology, we will gradually ramp up fees to the maximum 50%.

In addition, please note that from the fees collected, we will share dividends with the official shareholders of XTRABYTES Intellectual Properties Inc. ( after all corporate expenses and taxes have been paid ). All of which will be made public for transparency.

Finally, please review the following list of companies. The third corporation will be set up in the near future to better control our costs and expenditures. At the same time, this will serve as the corporation for our planned Fintech division.

XTRABYTES Ltd ( Employer / Contracts )
XTRABYTES Intellectual Properties Inc. ( Patent applicant/owner / Trademarks Owner )

XTRABYTES ?NameRevealedLater? ( Fintech Partnerships & Banking )

All profits from these companies will be directed to XTRABYTES Intellectual Properties Inc. and will be applied to the dividends after all corporate expenses are paid.

How do I get a STATIC node?

STATIC node registration will be available on the XCITE module when registration opens. In the meantime, we will be creating another web-based interface designed to reserve STATIC node registrations.

STATIC node registrations will proceed on a first-come, first served basis subject to the following limits:

Level 1 STATIC nodes – MAXIMUM 1 per person.
Team members ( including Zoltan ) will be given the opportunity to register one Level 1 node each before any other community members. Dave will not participate in Level 1 node registration.
Level 2 STATIC nodes – MAXIMUM 5 per person.
Level 3 STATIC nodes – MAXIMUM 10 per person.

The above limits may eventually be lifted depending upon interest. These limits were created to decentralize ownership as much as possible. We may even have to reduce these limits in order to increase decentralization.

While we cannot provide details yet regarding the purpose of each node level, we can say that the fees received will be equally balanced. No level will receive more than any other level given the deposit size for each.

For example: if a Level 1 received 100 XBY, the Level 2 will receive 50 XBY and the Level 3 will receive 25 XBY. Thus, they’re all equal except that the deposit size is different, which is why the fee payouts vary.

STATIC registration will also require KYC documents and address verification. Since these nodes will be participating in our trust network, we need to know who the individual or entity is that owns these STATIC nodes.

What is the cost of a STATIC node?

The STATIC node “cost” has not changed (as outlined below). However, we will once again point out that you’re not purchasing STATIC nodes from us. You’re creating a “deposit” of your own coins which can be retrieved at any time (although this breaks your STATIC node). This “deposit” puts you in a position to enter into a licensing agreement with XTRABYTES Ltd and become part of the STATIC network.

Required deposits of STATIC nodes:

Level 1 is: 500,000 XBY  or 330,000 XBY + 170,000 XFUEL

Level 2 is: 250,000 XBY  or 170,000 XBY + 80,000 XFUEL

Level 3 is: 125,000 XBY  or 85,000 XBY + 40,000 XFUEL

Are there any additional fees to register a STATIC node?

Originally, we had planned to proportionately share the fees we charged with the existing STATIC owners. However, due to unforeseen delays and the fact that the original STATIC owners are getting 300 free XIP tokens each, we feel it’s fair to start the new registrations without fees (like the original STATIC owners benefited from).

This free setup will be a limited time offer, available for a 25000 block window ONLY. After this block time ends, the STATIC registration fees system will come into effect.

Rather than using a system that scales up the fee level as the number of available STATIC nodes decreases, we believe 10% of the STATIC deposit is an appropriate flat fee. This fee can be paid with any combination of XBY/XFUEL.

Are there fluctuations in the fees received by a STATIC node?

Although the basis for fee calculations are the same for all node levels, additional factors ( we call them TRUST factors ) will further determine the actual fees received by each individual node. Some of these factors include:

  • Online time
  • Node ownership age
  • Broken or original registration
  • Machine specs and capacity
  • Speed and quality of the Internet connection
  • Real shares affiliated with the node
  • Other factors (TBD).

An algorithm will automatically determine each node’s TRUST level and use that as a factor to determine the STATIC node’s final payout percentage.

Obviously, the highest possible fees percentage is likely to go to a super fast computer with massive storage and memory that retains a fast internet connection and is online 24/7. One that is an original STATIC node that has never been broken and is affiliated with real shares. Anything less than these maximum TRUST factors will result in a reduced fees percentage.

The difference can be significant. Compare someone who is renting top quality equipment through a VPS and has all other factors in place to someone who merely employs an old laptop or raspberry pi with little more ability than a node connection (and which has not maintained or applied the connection of real shares).

Do new STATIC nodes get free shares also?

Free shares will not be given to future STATIC node owners. However, owning real shares and connecting them to your STATIC node will allow you to optimize your fees percentage if all other TRUST factors are met.

In the event that you select to break your STATIC node, the real shares affiliated with your STATIC will remain yours (since you have paid for them).

When will STATIC registration open?

Once the XCITE mobile and desktop platforms have been tested and released, the STATIC registration process will also be tested. And once they’re confirmed as ready to go live, we will open STATIC registrations.

As mentioned above, we will be releasing the registration waiting list as soon as our developers can complete this task.

Notice: Additional review may uncover additional changes which may be required to achieve our intended goals. We reserve the right to make adjustments accordingly.

Would you like to know more?

We don’t just publish articles, XTRABYTES™ is a whole new blockchain platform that allows DApps to be programmed in any language, utilizing a new consensus algorithm called Proof of Signature. In doing so, XTRABYTES™ presents a next – generation blockchain solution capable of providing a diverse set of capabilities to the general public.

You can learn more on our website where you can also help to spread the word through our bounty program and get rewarded in XFUEL™, or join our community and hop into the discussion right now!

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