Node operator signup bonus vesting smart contract
The following provides instructions on how to use the contracts, details scenarios where the vesting schedule may extend due to node jailing, and explains the difference between vested coins and claimable coins.
Overview and eligibility
The Signup Bonus Vesting Smart Contract is designed to manage signup bonuses for node operators who join Redbelly Network. Node operators are eligible for signup bonuses based on their node registration order.
The contract specifies two tiers of bonuses:
- The first 200 node operators will receive a signup bonus of 400,000 RBNT.
- The next 400 node operators (i.e., from 201 to 600) will receive a signup bonus of 150,000 RBNT.
These bonuses will vest over 4 years from the date of node registration/onboarding. These bonus includes the 100,000 RBNTs which will be staked on behalf of the node operator at the time of onboarding.
To be eligible for the signup bonus, node operators must first, successfully, register their node with Redbelly Network. For more information on node registration, refer to the Node Operating Guide.
The vesting schedule begins from the date of node registration/onboarding and lasts for 4 years. During this period, the bonus coins will vest gradually.
Vested coins vs. claimable coins
- Vested coins: The coins that have vested over time according to the vesting schedule.
- Claimable coins: The coins that can currently be claimed. Claimable coins make up the difference between the vested coins and the coins already claimed.
Interacting with the contract
Node operators can interact with the SignupBonusVesting contract through smart contract calls using the node’s public address (the same public address the node was registered with).
SignupBonusVesting contract address:
Remix is the recommended smart contract communication and interaction tool on Redbelly. Remix is a web-based IDE (Integrated Development Environment) that provides a user-friendly interface and built-in tools and features to write, compile, and deploy smart contracts. You'll need to configure Remix to connect to the instance of Redbelly you are trying to deploy to, review details about Redbelly environments.
- Calculate vested RBNT by calling the status() function.
- Claim vested signup bonuses, call the claim() function. This function will transfer the vested coins (minus already claimed coins) to the node's public address (provided at registration).
- Check claimable coins by calling the claimable() function.
There are some Network Governance; considerations which can impact the vesting schedule and the node operators eligibility to claim vested coins including jailing and tombstoning. Further details are outlined below.
Impact of node jailing on vesting schedule
If a node operator's node is jailed—as outlined in Network Governance—the vesting schedule will be extended. Jailing refers to situations where a node operator's node is temporarily restricted from participating in the network.
The following scenarios may lead to vesting schedule extensions:
The days spent in jail will not count towards the vesting period. Thus, the vesting end date will be extended by the duration of the jail time.
When checking the current vesting status of a node, the status() function will take into account both the time spent since registration, and the time spent in jail.
If however, a node operator's node is jailed, but subsequently found to be 'not guilty', the vesting schedule will not be impacted by any time spent in jail.
Rejoining the network
If a node operator's node is jailed and the node operator decides not to complete the required jailing period but instead decides to leave the network and subsequently decides to rejoin later, the vesting schedule for the signup bonus will end on the date of the initial jailing event. This means that any remaining unvested signup bonus coins will be forfeited. Node operators are advised to ensure compliance with network rules and requirements to avoid the termination of the vesting schedule and the potential loss of unvested signup bonus coins.
Impact of tombstoning on vesting schedule
When a node is tombstoned, as outlined in Network Governance;
- the vesting schedule for the signup bonus ends immediately and any remaining unvested signup bonus is forfeited.
the node will no longer receive additional signup bonus coins, and since the vesting schedule will stop at the tombstone event no further coins will become available for claiming from that date.
the node operator can still claim the tokens that have already vested before the tombstoning event occurred. These tokens are not affected and can be claimed as usual.