So, you’ve got your node set up, and it’s running. Now you want to maximize your rewards. What do you do?
I am a node validator, how do I join
If you want to become a node validator, first you need to follow this guide. It explains the process of creating and starting a node. If you already have a working node, then you are happy to apply to become a mover proxy delegator.
The requirements to become a Mover proxy delegator
If you want mover pool to delegate to you, you will need to stake (not burn, not transfer) 5,000 MOVE tokens. The delegation process is permissionless.
- When you stake MOVE it automatically specifies your rewards address (the address you stake MOVE from is your rewards address).
- You need to tell Mover how many UBT tokens you need to be delegated (up to 950,000 UBT).
- You will need to email Baseledger Council the delegated staking address, your node ID, as well as the rewards address - which will be a smart contract).
You have a responsibility of keeping the node online. If your node will not operate properly (resulting in the decrease of rewards), Mover pool will automatically delegate tokens to another node validator.
Fee share structure
There are no private communication, custodial solutions or other nonsense. All delegation process is transparent and on-chain. That is why the fee share structure is the same for all node validators.
In short, as a node operator you will receive 9.5 % of all rewards earned by Mover pool. Your rewards will be available to your rewards address (the address that will stake MOVE tokens as a confirmation of ownership).
Instructions list
In order to get up and running you will need to follow these steps:
- Reach out to Mover team via email or a live chat in the mover web app saying that you would like to become a Mover proxy delegator
- You will need to provide your node ID address
- You will also need to specify the amount of required UBT for delegation (max is 950,000)
- You will be given the address of a proxy delegation smart contract assigned specifically to you.
- You will need to stake 5,000 MOVE (via a function in the smart contract) into the given proxy delegation smart contract. You will also receive simple instructions on how to do that in 2 clicks via Etherscan
Important! Do NOT send MOVE to the address. Sending MOVE will result in losing your MOVE tokens. You will need to deposit them via the function to be able to withdraw (unstake) them later.
- Once done, the last step is to email the Baseledger Council with the required information, and your node will be delegated the tokens
- To collect your rewards you will need to claim them from a proxy delegation smart contract (the same way you initially staked your MOVE tokens)