FAQ
Can I use the WeStakit NFT to activate my Node?
Yes, you can exchange your WeStakeit NFT for a Node NFT license to operate a Node at the launch of the testnet and mainnet, and then receive your rewards.
Do I still get a multiplier after the presale phase?
No, after the presale phase, you will only get the multiplier through specific activities, and it is highly limited. Therefore, it is beneficial to acquire a WeStakit NFT during the presale phase. This way, you can immediately benefit from the staking pool rewards and get up to an 8x multiplier on the storage you provide to the WeSendit network for up to 180 days after the Node is activated.
Is the multiplier time-limited?
Yes, after activating the Node, your multiplier will be active. It is limited to a maximum of 180 days depending on the activities. After that, it will be downgraded to 1x and can be increased again through further activities, as long as the multiplier quota is still available.
Why can you pay up to an 8x multiplier on the provided storage to Node operators?
The operation pool, which makes up 10% of the total supply, is used for this purpose. This ensures that the hosting or operating costs of our Node operators can be additionally incentivized and amortized. Since the multipliers are highly limited after the presale phase, this limitation ensures that the pool can be maintained for several years. The pool rewards participants who actively support the network and regularly perform activities to maintain their multiplier. If the activities are not performed within a period, e.g., 180 days, someone else gets the chance for a multiplier, based on the "First come, first serve" principle.
What are the differences and advantages of the Nodes (Nebula, Orbit, Cosmos)?
Nodes differ in their data usage (allocated uploads) and the number of licenses they can hold. The advantage of multiple licenses is that they allow operators to run multiple Nodes under the same account, leading to more efficient management, potentially higher overall network performance, and more rewards.
What rewards do I get during the presale phase by purchasing a WeStakit NFT?
During the presale phase, you receive rewards from the staking pool for a maximum period of 52 weeks, based on your stake and expressed in APY. These staking rewards and the associated proof of commitment are exclusively available to WeStakit NFT holders. The WeStakit NFT entitles you to operate one of the three Nodes (Nebula, Orbit, Cosmos) and get an 8x multiplier on the provided storage in WSI.
What is the purpose of the WeStakeit NFT?
The WeStakeit NFT can be converted into a Node license at the start of the testnet, allowing you to operate a Node in the mainnet.
Can I acquire multiple Node NFT licenses per tier level?
Yes, you can acquire multiple Node licenses, which you obtain by operating your Node. Each NFT license allows you to operate a Node later: Nebula, Orbit, or Cosmos Node.
What are the "Tiers" 1-12 for?
The Tiers 1-12 offer a structured approach for staking your WeStakit NFT license. They allow our Node Operators to stake their WSI tokens for a period of 52 weeks and receive an annual percentage yield (APY) based on their stake, which is currently over 30%. The tiers represent different levels of investment, with higher tiers requiring larger stakes and providing correspondingly higher rewards from the staking pool. This system provides flexibility, enabling Node Operators to choose a tier that best fits their financial capabilities and return expectations, thereby helping to amortize their hardware costs through the rewards earned.
Which node category is the best and why?
There isn't a one-size-fits-all answer to this, as it depends on the individual investment capabilities and goals of the Node Operator. The Tier 1 Node is the most affordable with 10,000 WSI but offers the lowest rewards from the staking pool. In contrast, Tier 12 requires 250,000 WSI and offers significantly higher rewards. Both categories allow the operation of a node on the mainnet under the same conditions. Therefore, the best category depends on how much a Node Operator is willing to invest and what their return expectations are.
What kind of ROI perspective can be given to Node Operators who may need to invest thousands of dollars in additional hardware?
The ROI perspective for Node Operators making substantial hardware investments is based on several factors:
Web3 Users: Node Operators are incentivized based on the usage of the WeSendit network by our Web3 users, who choose one of the three subscription plans (Basic, Pro, or Business) and use their storage space.
Web2 Users: We also offer the same incentives to our Web2 users. These users can also utilize their storage space through the WeSendit Node network, contributing to the overall remuneration of Node Operators.
Partnerships and Enterprise Accounts: The main incentive comes from expanding partnerships and enterprise accounts with large companies that typically operate in the petabyte range. These companies rent storage space from our network, leading to long-term and stable revenue for the Node Operators.
Excess Storage: Any surplus storage space is rented out to our Web3 storage partners. The rewards received in the form of Filecoin or Storj are used to buy back WSI tokens from the market and remunerate the Node Operators.
The staking pool offered in the Node NFT presale serves as an additional incentive and proof of commitment, enabling Node Operators to amortize their hardware investments through the received rewards before earning additional rewards from providing storage space. This offers a certain level of security and stability, ensuring Node Operators can recoup their initial investments before benefiting from the additional incentives.
How realistic is it to share storage capacities with partners? Do they lack capacity?
Sharing storage capacities with our Web3 storage partners is strategically sensible. WeSendit, as a storage provider, has sufficient own capacities. By collaborating with external partners, we can efficiently rent out unused storage resources. Simultaneously, our focus remains on offering storage space to corporate customers as well as our Web3 and Web2 customers with subscription plans. This diversified revenue model maximizes benefits for both WeSendit and the Node Operators by creating stable income sources through the rental of unused resources.
What is the current and short-term expected storage demand from WeSendit? Is it likely to invest in large hardware capacities (10-100 TB) and use only a small portion of it while receiving the associated rewards?
Currently, we cannot make precise predictions about storage demand. The demand from our Web3 customers is moderate, prompting us to offer our storage resources to Web2 users as well. However, we are actively in talks with enterprise customers interested in using multiple petabytes of storage through the WeSendit network. These corporate partnerships are promising and represent a significant future revenue source.
Will users still be able to select the geographic location of their storage capacity down to the country level? If so, what kind of demand can Node Operators in smaller countries expect?
In the first phase, the network will be rolled out globally. As development progresses, we will segment regions (Europe, Asia, America, etc.) and eventually target specific countries. For country-level segmentation, the network must have a sufficient number of nodes available (depending on the size of the desired country). Our growth strategy is "top-down" – from global to country-specific – which is best and healthy for organic growth. As the network grows and adoption broadens, storage demand in individual countries will also increase. We will enable countries when there are sufficient nodes and corresponding demand.
What kind of "activities" will be required to maintain the multipliers?
The activities required to maintain the multipliers will be shared with the community two weeks before the end of the presale. These activities include various measures aimed at increasing visibility and engagement for the WeSendit network.
Social Media Campaigns: Node Operators must actively participate in social media campaigns, including sharing posts, creating content, and interacting with the community. These activities help increase the reach and awareness of the WeSendit network.
Marketing Measures: In collaboration with our partners and large companies (corporates), various marketing measures will be conducted to offer our storage space to potential customers, highlighting advantages such as security and cost-effective prices.
Community Support: Gaining recognition and support from the community by promoting initiatives and projects within the WeSendit community. Active participation and support from Node Operators contribute to a strong and supportive network.
By combining these social media activities, marketing measures, and community recognition, we ensure that Node Operators contribute not only technically but also through their engagement to the development and success of the WeSendit network.
Will the 8x multipliers expire after 180 days, and will Node Operators have to acquire the multipliers from scratch in this case?
Anyone who acquired a WeStakit NFT during the presale or already owns one will receive an 8x multiplier on their provided storage space and corresponding rewards when the mainnet launches. This multiplier is valid for 180 days. If the Node Operator does not complete the required activities in their dashboard within these 180 days, the multiplier will automatically expire. This ensures that the Node Operator remains active in the community and contributes to strengthening our network. The 8x multipliers are strongly limited at the mainnet launch and are only awarded to Node Operators who operate a node and actively support our network and community. Each WeStakit NFT holder is entitled to an 8x multiplier, provided they complete the required activities in their dashboard. After the presale, a maximum of 100 8x multiplier spots will be available, awarded on a first-come, first-served basis. These spots expire after 180 days, allowing others to acquire them as long as the quota is not exhausted. If a WeStakit NFT holder does not complete the required activities, the 8x multiplier will expire. However, it can be re-acquired at the mainnet launch through renewed activities, provided there are available spots.
How many WSI tokens will we need to "buy" the nodes after staking?
The required stake for the Nebula, Orbit, or Cosmos nodes will be announced before the end of the Node NFT presale. This calculation is based on several factors, including the number of sold WeStakit NFT node licenses, the current market price of our token, and the overall demand from our corporate and Web3 accounts. These variables are considered together to set the required stake flexibly and market-appropriately, ensuring an optimal transition to the mainnet launch.
When will the rewards for Node Operators start?
The mainnet launch is planned for the fourth quarter (Q4). Node Operators can start earning rewards in the testnet when their node score reaches at least 80 points. With a score of 90 or more, the node will join the mainnet and receive full rewards. More information can be found in our documentation.
On which NFT marketplace will the WeStakit NFT license be tradeable?
The WeStakit NFT license will be tradeable on the following NFT marketplaces that support the Binance Smart Chain:
AirNFTs: This platform supports the Binance Smart Chain and offers a user-friendly interface for creating, buying, selling, and trading NFTs. It is especially designed for artists, offering low fees and a mobile app for easy access.
OpenBiSea: This marketplace allows trading NFTs on the Binance Smart Chain, offering both auctions and direct sales. OpenBiSea emphasizes user-friendliness, even for non-crypto experts.
CakePunks: CakePunks is an emerging project on the Binance Smart Chain, planning to develop a comprehensive NFT marketplace dApp. This platform will support trading all types of NFTs, focusing on low transaction fees and an active community.
While OpenSea no longer supports the Binance Smart Chain since August 2023, these other platforms continue to enable NFT trading on the Binance Chain.
Will there be further refills of the staking pool? What reasonable APY can be expected for new staking positions in the first few months and coming years?
No, after the presale and the launch of the WeSendit Node mainnet, the staking pool will no longer be available. All available funds in the staking pool will then be transferred to the operations pool, which is used to reward multiplier rewards. Therefore, there will be no opportunity to open new staking positions.
If the 8x reward multiplier expires after 6 months, how long will it take to re-achieve it, and what activities will be expected?
After the 8x reward multiplier expires after 180 days, Node Operators must complete the required activities in their dashboard to reactivate the multiplier. Once these activities are completed, the multiplier will be immediately reactivated, and the countdown will start again for another 180 days. However, this is only possible as long as there are available multiplier spots, as these spots are limited in the mainnet.
What reasonable percentage of the capacity of a high-performance node is expected to be utilized in the first few months and the first year? Is it advisable to invest thousands of dollars in hardware and storage capacity upfront without knowing this?
It is difficult to predict an exact percentage of the utilized capacity of a high-performance node in the first few months and the first year. Actual usage depends heavily on demand, the expansion of our partner network, and the acquisition of corporate customers. Therefore, we cannot give a specific recommendation on investing thousands of dollars in hardware and storage capacity upfront. However, our goal is to increase demand by expanding our partner network and acquiring more corporate customers to incentivize our Node Operators and maximize the utilization of their capacities. Through continuous efforts to establish new partnerships and enterprise accounts, we aim to increase the utilization and, thus, the profitability of your hardware investments.
Will the specific geographic location of a Node Operator affect their capacity utilization through the system?
Yes, the specific geographic location of a Node Operator can affect their capacity utilization through the system. Factors such as local demand, network latency, and proximity to larger markets can play a role. A location in a region with high demand for decentralized storage and good network infrastructure can improve the utilization and efficiency of the node.
Will I receive the rewards immediately upon acquiring a license, and when can I access the staked tokens?
Yes, the rewards are credited immediately upon acquiring the WeStakeit NFT and can be seen on your dashboard at app.wesendit.io/nodes under the "Claim Rewards" menu. However, they can only be claimed after a lock-up period of 52 weeks, completion of KYC, and usage of the WeStakeit NFT for operating a node on the mainnet. If the WeStakeit NFT is not used to operate a node, 100% of the rewards will be slashed, and only the initial stake will be refunded.
What happens if I provide, for example, 10 TB of storage, but it is not utilized by the system? Will I still receive any compensation?
Compensation in WSI per TB is only paid if the provided storage is utilized by our customers, partners, and corporations.
Are my staked tokens with the WeStakeit NFTs available again after 52 weeks?
Yes, they are available, provided that KYC has been completed. The smart contract checks during the claiming request, which is active after 52 weeks, whether a node has already been operated. If not, and you still claim your WeStakeit NFTs, all rewards will be slashed, and only your initial stake will be returned.
Can more than one node be operated on the same hardware device? If so, how? One Docker for each node? Even for different wallets?
Yes, it is possible to operate multiple nodes on the same hardware device. Each node can run in its own Docker container, even if different wallets are used.
Can I have multiple nodes behind the same public IP address? Will they be affected by the data upload node selection criteria because they share the same IP address?
Yes, you can operate multiple nodes behind the same public IP address. Please note that the port configuration on your router and in Docker must be manually adjusted and mapped. This setup can become a bit more complex. Typically, the individual nodes will receive a lower score because the bandwidth and latency are shared. We recommend setting up multiple nodes only if there is sufficient bandwidth speed.
Does transferring the funds to the Operation Pool after the WeStakeit NFT presale and the start of the WeSendit Node mainnet mean that the NFT node staking, which is locked for 52 weeks, could stop giving rewards before the unlock date? If so, when might this happen approximately?
The NFT node staking will continue to give rewards until the end of the 52-week lock period. However, after the unlock date, the funds will be transferred to the Operation Pool and will no longer be available for the original staking. The WeStakeit NFT license serves as an incentive and proof of commitment for future node operators.
Last updated
