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New Staking Rules from BTFS Team (1st edition)

BITTORRENT | 11.24| 47

According to official sources, BTFS team announced the first edition of the new staking rules to crack down on cheating, regulate miners’ storage actions, and improve the overall mining return.

The details are as follows:

  1. Under the new BTFS staking mechanism, a portion of staked BTT (proportional to the amount and size of files that failed validation) will be charged as a penalty if files stored on hosts failed the network’s validation challenge (which examines the completeness and effectiveness of the stored files) until all BTT staked are deducted from the host’s account. Hosts who hold less than 500,000 BTT will be disqualified from earning airdrop reward from the storage competition.
  2. Penalty: For each failed validation, 10,000 BTT will be charged as penalty for files under 50MiB, and a multiple of 10,000 BTT will be deducted for files exceeding 50MiB. All BTT will be deducted as penalty if the decentralized validators (validation hosts will be introduced soon) were found to perform malicious acts. Staking liquidity: 15,000 BTT counts as one staking unit, and each staking should be made in the multiples of 15,000 BTT.
  3. Hosts may keep adding or redeem the BTT staked at any time. Change in the balance of staked BTT comes into effect on the following day. Miners may submit requests to redeem their collaterals 90 days after their staking, and the BTT staked will be deposited to the original wallet address the following day after the submission.
  4. Hosts holding less than one staking unit in their accounts after redeeming BTT by units will be disqualified from the airdrop reward offered by storage competition.

BTFS team reserves the right to modify the rules without prior notification to users, yet the team puts a premium on feedback from users and miners. You are more than welcome to contact the BTFS team if you have any suggestions or advice.

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