Proposal Title: Increasing Validator Node Rewards to Enhance Network Security, Stability, and Token Price
Proposer:Diamondhea
Date: 2024/2/12
Background:
With the growth and development of the MAP network, the importance of network security and stability has increasingly come into focus. Validator nodes, as the cornerstone of the network, play a crucial role in its healthy operation. While the current reward mechanism has incentivized node participation to some extent, the expansion of the network and the intensification of competition from similar products may mean that existing reward levels are insufficient to attract and retain high-quality validators and to boost the community’s enthusiasm for staking.
Objectives:
To attract more high-quality validators to participate in the network by increasing rewards.
To enhance the network’s security and stability, reducing the risk of malicious attacks.
To maintain and enhance the network’s decentralization.
To encourage validators to invest in better hardware and software, improving the overall network performance.
To counter external competitive pressures by locking in more high-quality stakes, thereby increasing the community’s enthusiasm for long-term participation and building.
Proposal Details:
Increase Base Rewards: For all active validator nodes, increase the base reward by 150% (2.5 times the original benchmark) for 6 months, followed by a linear decrease over the next 6 months to return to normal levels to prevent significant sell-offs, countering some competitors’ impact.
Performance and Reliability Rewards: Introduce a performance and reliability reward mechanism, offering an additional 10% reward based on metrics such as validator nodes’ online time and block proposal success rate. This proposal is long-term.
Long-term Participation Rewards:*Provide extra rewards for validator nodes that have been stable and operational over the long term, with a reward every six months equivalent to 10% of the average earnings over that period to encourage ongoing contribution and long-term commitment to the network. This proposal is long-term.
Special Contribution Rewards: Offer one-time special rewards for validators making significant contributions during critical moments, such as network upgrades and responding to attacks. Special rewards should be subject to voting, with each reward equivalent to 100% of the node’s average earnings over the last six months. This proposal is long-term.
Expected Outcomes:
The increased rewards will attract more capable validators to stake, aiming to add 200-300 million MAP tokens in staking, enhancing the network’s competitiveness and degree of decentralization, and boosting the token price.
Higher reward levels will motivate validators to invest in more powerful hardware and more reliable network connections, improving the network’s overall performance and stability.
Rewards for long-term and special contributions will encourage validators to remain engaged and actively maintain network security.
Budget and Resource Requirements:
Increase the base reward by 150% for 6 months, followed by a 6-month period of decreasing rewards to return to normal levels. Other reward metrics increased by 10% (long-term) to attract more MAP stakers to nodes. The funds will be drawn from the 30% of tokens allocated to validators in the whitepaper. Request the technical team to assess the feasibility of modifying the contract.
Conclusion:
By increasing validator node rewards, the MAP protocol can more effectively attract and retain high-quality staking validators, thereby enhancing the network’s security, stability, and performance. This proposal will lay a solid foundation for the healthy development and long-term success of the MAP network, profoundly impacting network stability, price stability, and community enthusiasm.