What privacy problem are you solving?
The Incognito network has been live for around 6 months and we have over 1000 validators so far. The more validators the network has, the more secure the network will become and the more well-known Incognito will be. That’s why my team and I are looking to acquire more validators. By powering the privacy network, they will earn rewards in PRV and other transacted currencies in return.
What is the solution?
There are currently 3 ways to become a validator:
- host a Node Virtual
- buy a Node device
- join Node Pool: hub of staking pools
Here is a simple comparison:
|Node Virtual||Node||Node Pool|
|Level of expertise||***||**||*|
|Initial investment||$20-40/mo||$399||Any amount of PRV|
The plan is to promote the whole Node category: Node Pool as an entry level offering because it is the most flexible way to begin with, Node as a default offering because it’s both easy and efficient and Node Virtual as advanced offering because it requires familiarity with code.
Which solutions do people resort to because this doesn’t exist yet?
People are currently staking crypto at a super low annual rate (Tezos 5%, Cosmos 10%, Tron 4.32%, etc…), or they need to go through a complicated setup to run their own node. In general, the staking experience at Incognito, whether via Virtual Node, Node, or Node Pool, is simpler and more profitable.
This chart below simply explains why the Incognito Node is preferable to other options.
- Zcash, Monero miners: because they already care about privacy. Incognito is more user-friendly.
- Helium, Coinmine owners: because they are already interested in buying crypto hardware devices, and Incognito arguably solves a more meaningful problem.
Who are you?
@Annie - a member of growth team. I’ve been with the project since the beginning supporting validators.
@Ducky - a member of the Growth team. For the past 3 months, she has been working on increasing Incognito exposure.
@phuong has over 10 years of experience as a senior software engineer. He’s been with the project since the beginning, leading the backend team. He built trusted bridges like BTC, ETH/ERC20, TOMO, BNB/BEP2, ZIL, and XMR. His team will add Ontology, Ripple, NEO, Cosmos, EOS, and more, soon.
@phathoang has over 2 years of experience as a software engineer. He is now the front end engineer responsible for Incognito Wallet.
Why do you care?
We want to open up access to as many people as possible. Allowing users with any amount of PRV and any level of technical knowledge to participate results in more privacy supporters, more nodes, a more decentralized network, and a stronger privacy movement. And it gives these validators a decent ROI without needing to go through all the hassle of a staking experience elsewhere.
What’s your plan? What’s your schedule?
Goal: 300 more Nodes total across Node Pool, Node Virtual, Node.
Node Virtual: 100
Node Pool: 100
Node Virtual: 848
Node Pool: 0
|April 30th||200 Node Virtual & Node Pool online, 100 Node sold|
- Launch Node Pool: including Incognito, Constant & JS Pool
- Launch new UX for Node purchase & improve Node set up experience
- Fine tune Node product page
- Go after Monero users: direct message 1-1 with Monero users, seeding in Monero group
- Push Node Virtual communities with tutorials, updates,… & upsell Node (tool: database reduction -> Node lifespan increase)
What’s your budget?
|Project Lead||2000 PRV||1||2000 PRV|
|Digital Marketer||1000 PRV||1||1000 PRV|
|Backend Engineer||2000 PRV||1||2000 PRV|
|Frontend Engineer||1000 PRV||1||1000 PRV|
|Marketing Budget (est)||4000 PRV||1||4000 PRV|
|TOTAL (x 1 months)||10000 PRV|
Is there an existing conversation around this idea?
This is the expanded proposal from this one.
Is there anything else you would like the community to know?
If you have any feedback, suggestion or idea to help us, feel free to join us, or leave a comment. I’m all ears!