2. "Over the course of the access period, the payment

Question

2. "Over the course of the access period, the payment

contract automatically 1) burns a portion of each DID’s service token and 2) releases a portion of the corresponding EWT balance to the Utility Layer nodes incrementally. In this way, the ERC-20 service token and the EWT balance are both exhausted at the end of the payment term (e.g., one year)."

Whats the reason to release the EWT portion to the Utility layer nodes? What are they doing? Paying rewards to the patrons if they helped with the EWT lock up? So let's take a company as an example again: They want to issue a certain amount of DIDs and need to deposit EWT into a payment contract of the EWF DID utility layer service. Lets say 10k EWT as an example. They can now choose to deposit it themselves or ask the community, us as patrons to help them in return for some rewards? These rewards are paid out by the Utility layer nodes that they (the company) runs themselves, that get a portion of corresponding EWT released from the contract over time? That would mean they lose some EWT due to paying out rewards to us no? The other way would be to pay for it themselves and get it all unlocked again after the access time?

#cryptocurrency #energyweb #english

0

29.09.2021

10 ответов

12 просмотров

Rose

if you are looking to stake your $EWT you will be able to do that by the end of the year. Meanwhile feelnfreento test staking on the Volta testnet.

0

29.09.2021

Kyuubi Автор вопроса

the service provider for DIDs is the EWF no?

0

29.09.2021

Ayr

as a kickstarter yes, but the intention is to have companies hosting services themselves mid/long term

0

29.09.2021

Michal Bacia

Service nodes provide services (like DiDs) to clients. In your example the EWT is gradually released as payment for the services delivered by the nodes. This is how service operators make money. A % of every transaction will be sent to Network Reward Pool. Network Reward Pool is distributed to all staking pools run by service operators. Patrons can stake in operators’ staking pools and receive rewards from the network reward pool.

0

29.09.2021

Rose

if you are looking to stake your $EWT you will be able to do that by the end of the year. Meanwhile feelnfreento test staking on the Volta testnet.

0

29.09.2021

coebar

Thank you for clearing that up Micha, interesting!

0

30.09.2021

Micha Roon

About the identity registry: it is an ERC1056 (https://github.com/ethereum/EIPs/issues/1056) Contract which has been deployed on Volta (https://volta-explorer.energyweb.org/address/0xC15D5A57A8Eb0e1dCBE5D88B8f9a82017e5Cc4AF/transactions) So yes, it is open source and freely accessible.

0

30.09.2021

Kyuubi Автор вопроса

Thanks 👍🏻

0

30.09.2021

Kyuubi Автор вопроса

Awesome that’s something I was looking for 🙂

0

30.09.2021

Ayr · Accepted Answer

afaik the staking model doesnt work for outside the utility layer companies that just intend to pay for a service. That would come from their pockets not from patrons. Patrons stake with service providers not companies trying to subscribe to a service. Would make sense if its a lend/borrow situation tho. Not fully sure if i understood your question but the example you are proposing "the company" is playing both the service provider and suscriptor role?

209 похожих чатов

2. "Over the course of the access period, the payment

10 ответов

Похожие вопросы