Solaris Reward Program
Txbit is rewarding 50% of the Net Transaction Fees to all users who sign up and link their Solaris Masternode to the txbit account.
We created a unique system, which supports the network security at it’s core by encouraging people to run masternodes and stake Solaris coins (Staking support coming soon). We hope our system will create a major incentive for users to take XLR off exchanges and keep it safe.
How it works
You must run a Solaris masternode to participate in the program. A Solaris masternode requires 1000 XLR coin collateral, a fully synchronised Qt wallet (download from solariscoin.com) and a VPS server (5USD per month).
Instructions on how to set-up and run a masternode can be found HERE
Next you need to create an account on txbit.io and link the Masternode with the account. You can track your estimated rewards from the Dashboard.
How to link your masternode on Txbit.io: HERE
How the reward is calculated:
Transaction Fee Pool are the actual transaction fees collected by txbit for that payment period.
Txbit Company Cost is a nominal amount required to maintain day to day operations. These are: Server Running Costs, Company Incorporation, notary and lawyers, accountancy costs, office rent, software subscriptions and a salary of 1 Director as required by the Dutch law.
Transaction fees are taken from the Base Market currency for all pairings. 50% of the Net Transaction fees are shared between the linked Masternodes.
The rewards will be deposited to the txbit accounts on a monthly basis to ensure auditability and accuracy. Once the team is sure that all calculations are correct, the deposits will be automated on a weekly basis, and with a possibility to become a daily process in the future.
The Rewards are shared equally among all linked Masternodes on txbit.
What are the rewards
Users will be rewarded a combination of BTC, ETH and XLR directly to their txbit accounts.
We have a strong and valuable partnership with the Solaris team and we value their mission statements and goals. We chose to integrate XLR into the reward program due to the fair distribution of Solaris funds among the community. It’s a truly decentralized, no ICO, project with no single party controlling a large amount of XLR. The Solaris core team posseses less than 1% of the XLR supply, and that is used exclusively for development. This is fundamentally different from Exchange-based tokens, where in many cases the exchange controls more than half of the total supply.