Requirement
Hardware Requirements
System: Ubuntu 20.04
CPU - 4 core (3.2GHZ above)
Memory - 16GB
Storage - 200GB SSD
Bandwidth - 10 Mbps above
Tip: CPU frequency lower than 3.2GHZ may affect the normal block generation of collator. Storage recommendation is using an SSD that supports the NVMe protocol.
Operating System
Ubuntu 20.04 LTS
(Bifrost binary can only run on Ubuntu 22.04, you can use docker when you have other linux system. )
Operating Procedures
Delegator
Create a BNC Address via Polkadot.js
Enter the Bifrost Dapp (Mainnet) and delegate to a Collator
Collator:
Create a BNC Address via Polkadot.js
Run Collator Node & Map SessionKey in the Bifrost mainnet (https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Feu.bifrost-rpc.liebi.com%2Fws#): Guidance
Check your Collator at Bifrost Dapp (switch to Mainnet)/ Telemetry
Get Delegation
Successfully generate blocks and enter the active Collator set to get Commission rewards
Operation Cycle
The Collator system has its own running cycle, 600 blocks in a round, each round takes about 2 hours, and the cycle is related to the operations of reward settlement, addition, and unbonding.
Basic Parameters
Glossary
Collator: Collator runs a full node on Bifrost parachain and Kusama relay-chain, and produce the state transition proof for relay chain validators.
Active set: A set of Collators who can receive commission by producing blocks, choosen by the ranking of delegating amount.
Candidates: Collators who are out of the active set.
Collator self bond: Self-bond as a minimum BNC to be a Collator, continue self-bond same as delegating.
Delegator: Bifrost token holders who stake tokens, vouching for specific collator candidates on the parachain.
Delegate: Bond BNC Token for Bifrost Collators, receiving delegating rewards depends on the rank of Collator and delegating amount.
Collator
Maximum number of active Collators and candidates
Bonding parameters (Collator)
Others
Delegator
Bonding parameters (Delegator)
Others
Collator incentive ratio
Reward Calculation
Bifrost network reserved 5% (4,000,000 BNC) of total issurance to incentivize Collator mechanism for 5 years (800,000 BNC/year), with no inflation. The reward for each Round is a fixed 180 BNC. The reward calculation method is as follows.
According to the incentive ratio, the reward for each block is:
Collator:
180/600*10% = 0.03 BNC
Delegator:
180/600*90% = 0.27 BNC
If a collector's total delegating amount is 100,000 BNC and it is in the 64 Active Collator set for the whole year, the average revenue of the Collator is:
Collating Reward:
800,000 x 10% / 64 = 1,250 BNC
Self-bond delegating Reward:
800,000 x 90% / 64 x 5,000/100,000 = 562.5 BNC
Total Revenue:
1,250 + 562.5 = 1,812.5 BNC
APR:
1,812.5/5,000 = 36.25%
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