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Nxt and Ardor Forging Rewards are Back!

04 March 2019

After running a forging reward program for a short time and studying the results, Jelurida is ready for a more long-term program.

Goals

  • Increase forging participation in Ardor and Nxt.
  • Convince users to forge and not keep their tokens on exchanges.
  • Increase the number of online nodes.

Reward system

  • A contract will run every 10 blocks. It will randomly select one of the last 10 blocks and reward the block generator with 20 IGNIS (minus a small transaction fee).
  • Two separate contracts are deployed: one for Ardor and one for Nxt.
  • In total, around 5760 IGNIS will be distributed every 24 hours, or around 170K Ignis per month. In the current market, this is worth €2200 / month in total rewards.
  • The program will run for 3 months, then its effectiveness will be re-evaluated.

To participate in the program

  • Setup a full Ardor and/or Nxt node and start forging.
  • If you forge on Ardor, login with your forging account, navigate to the Ignis child chain, and set the account property "ForgingReward" (without quotes) to apply for the Ignis bonus. Set the property recipient to the same account. The property value does not matter (it is ignored by the contract). More information about how to set the account property: https://ardordocs.jelurida.com/Account_Properties
  • If you forge on Nxt, set the ForgingReward account property on the Nxt blockchain. The rewards for forging on Nxt blockchain will also be paid in IGNIS. To access your IGNIS tokens, log in with the same account on the Ardor blockchain (Ignis child chain).
  • In addition, to reward people running nodes and forging on Nxt blockchain, Jelurida will put a buy offer on the Nxt Currency Exchange for 150 000 NSC at a rate of 1 NXT per NSC. NSC is a Monetary System currency on the Nxt blockchain created in the past by community members to award those running nodes/forging and NSC rewards are still distributed periodically to NXT holders.

Monitor the reward program