Since IoTeX is a Proof-of-Stake blockchain (Roll DPoS, to be specific), the platform could not function without a sufficient number of active delegates. IoTeX makes it easier than ever to be a delegate. You can either host your own servers or use Fastblocks to run a hosted server. With Fastblocks you can buy, set up, and manage your IoTeX node, as a delegate or a data validator, all without having to buy dedicated servers.
Also new - delegates will now have your own delegate portal page on which to view node performance, reward history, as well as manage settings.
See how easy it is to manage your delegate settings in this short video walkthrough from Aaron Basi, Lead Product Manager, IoTeX.
And becoming a Delegate with FastBlocks takes just three steps. Pay attention - if you blink, you might miss it. Watch here.
Please consider becoming a pillar of the IoTeX community. Become a delegate.
Read the full blog here.
Hey all! Since this was posted, have you become a Delegate? And if you have, are you running your own server and did you use FastBlocks? Lastly, are you considering becoming a Delegate?
Thanks for the feedback!
Thanks for the videos they’re really good at illustrating the simplicity of running a node and the fast blocks add on is even easier. I’m tempted but doing the maths has me thinking about the current $90 a month cost vs staking with an existing delegate with 100% payouts. Are there additional incentives for delegates?
Yes, absolutely there are significant additional incentives for becoming a delegate. One of our community members came up with this reward calculator for IoTeX delegates. https://iotexlab.io/calculator
And here is a diagram describing the rewards:
Please let me know if you have any further questions!
Rod - does this make it a more attractive option? Also, does being able to directly participate in governance enter into your decision making process? (being a part of the governance is actually pretty cool. We’re in a new world with so much of this stuff)
Keep us posted on what you decide to do.
Can I run something past you please.
If I’m a delegate outside the 36 but still in the top 100 my node receives a proportion of 18750 per epoch (hr) depending how many votes I have. Does my node on the whole receive any other rewards?
Hey Rod, (Sorry for the delay - I was out most of last week)
To see what each delegate is earning you can start on this page:
When you hover over any value in a cell you can see an explanation and more details.
From this page you can also dig deeper into the particulars of any delegate.
To (hopefully) answer the question you posed to Aaron look at an example in the category you asked about.
You can review, of Delegate #37 with the cute name of Satoshi Musk. (“Elon’s evil twin”)
On this page you can see the rewards of this delegate who is out of the top 36 but still in the top 100. If you scroll down, you can show the Rewards Calculations.
Let us know if this was helpful.
Hi Marcos, great answer! Thanks for putting the time into your response it’s much appreciated.
I didn’t know these tools existed and they are great at giving an indication of validators and rewards and keeping things transparent. Well done to the team. Rock on.
Thanks for the kind words! Yeh, that’s a pretty awesome tool, isn’t it?
Best - Marcos