Storage providers called “Node farmers” on the StorX Network contribute towards a new decentralized, secure, private, and affordable storage. They get rewarded (in $SRX tokens) for adding Storage infrastructure and other related contributions to keep the network healthy.
With Farm storage Node Setup, farmers have to stake SRX Token. Minimum 10000 SRX tokens and a Maximum of 1 Million SRX tokens can be at stake to get rewarded up to approx 6%pa (Depends upon Node reputation and overall health) in SRX Token will be updated after hitting each milestone as per the incremental model.
The Minimum Staking Incremental model:
Post 4000 node, Minimum staking will be increasing as per the new incremental model, applicable from 10 December 2021, 06:00 UTC.
If the total number of nodes reached 4000 nodes, the minimum staking increases to 10000 SRX.
If the total number of nodes reached 4500 nodes, the minimum staking increases to 15000 SRX
If the total number of nodes reached 5000 nodes, the minimum staking increases to 20000 SRX
Technical members have also suggested capping/limiting the number of Storage Nodes at 5000, Till the network stabilizes.
How to host your StorX Node: https://www.xdc.dev/daisy_s/how-to-run-your-srx-node-15ao
Tips for maintaining a Good Node Reputation:
- Ensure Strong Cloud Infrastructure.
- Higher $SRX Stake adds value to “Good” Node Reputation.
- Ensure 100% uptime.
- Always ensure nodes maintain the latest software patch and OS updates.
Underperformance can lead to disqualification of nodes, which can lead to No ‘hosting and staking rewards’. Repeated low reputation can lead to a penalty; Staked SRX might be burned as a penalty as it may harm StorX Storage Network.
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