Ether-1 Node Leasing - A different option for staking
So I was poking around the Ether-1 discord the other day and started talking to some of the community members there about their nodes. They have both mining and masternodes to support their project, you can read a little more about that in a previous post I made about the project here. I found their options for operating nodes pretty interesting.
Now, you can go about things the normal way. Buy the necessary $ETHO as collateral and set up your VPS or whatever hosting you want to use, get the necessary items installed, and then setup and maintain your node. But, what if you want to set up a node but just don't know how to do all the technical stuff? Or what if you know how to do all the technical stuff but can't purchase all the needed collateral up front? You are just stuck, right?
Actually no, you have another option. Ether-1 has a pretty slick options they have set up through their staking site. This isn't your normal staking pool where you send off your collateral and hope it all works out. This is a trustless staking lease powered by use of smart contract. How it works is there is one party with the necessary collateral for one of the several different sized node options. Then another party with just a little $ETHO and the know-how and resources to set up a node. You both head over to the site and the one with the collateral puts up an offer, the one with the know-how selects which offer they want and then off you go. All the contracts are signed on chain and do not require you to trust the other party, the contract takes care of all the messy work. There are set deliverables and expectations, and you can choose how much you take as a return on your collateral. The lenders takes their cut for providing collateral and the borrower keeps the rest to offset their effort and resources for staking. The borrower has to put up a small amount of collateral themselves as a safety. If they don't deliver on up times or performance they lose that amount. If they do deliver they get 95% back and the lender keeps the rest. Once the contract length expires you each go your separate ways both with more $ETHO than you started with.
So what's it take to get a node? Here are the collateral requirements as well as necessary technical resources.
The staking market is in good use as well. At the time of this writing there was well over 4 million $ETHO that has been lent out and 16 available contracts of various sizes percentages and commitments.
If this interests you and you want to learn more they have a great library with all the technical details available here. All the links you need are embedded above or in the references section below.
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