Wanchain

Second Storeman Group Begins January 1st, 2020 — Don’t Forget to Register Your Node

Published by Liam on

The first Storeman group began from November 21st, 2020, and the second group will begin operation on January 1st, 2021.

Make certain to prepare your node if you want to participate in the second group, or to register to withdraw if you are a current Storeman node and wish to withdraw.

Read more below for details.

Details

  • Selection Time: 4:00 AM UTC, January 1st, 2021 — 4:00 AM UTC, January 7th, 2021

  • MPC Time: 4:00 AM UTC, January 7th, 2021–4:00 AM UTC, January 9th, 2021

  • Working Time: 4:00 AM UTC, January 9th, 2021–4:00 AM UTC, February 9th, 2021

  • Amount of Storeman Nodes: 21 (including one Foundation node)

  • Threashold of Storeman Node: 10,000 WAN, the Partner In mode is supported

  • Rules To Win The Selection: The top 20 Storeman nodes with staking amount will enter Storeman Group

  • Delegation Fee Rate: 10%

  • Deposit Rate: 200%

  • Delegation Ratio: 1:1.5

  • wanBridge: The Storeman Group at this cycle is applicable to Wanchain-Ethereum wanBridge

Note: If you are currently operating a Storeman node and do not wish to participate in the second group, you must register to exit before December 30th, 2020 — in order to withdraw when the current period ends. But we highly recommended that if you do not wish to particpate in the second group, you can withdraw as early as you can. If you withdraw, staked funds will be returned to your wallet on January 10th, 2021. Rewards will be issued daily as usual during the withdrawing period.

Nodes who do not register to exit before the end of the current period WILL be included in the selection process for the next period

How To Create A Storeman Node

In general, the rewards rate of running a Storeman Node is about 50% higher than the rewards rate of being a delegator. To set up a node, users need to at least well prepare the following two things:

  1. You need to have enough WAN to stake to the Storeman node you created. Those WAN coins can be either totally contributed by yourself or partly from partners and delegators through the way of Partner In and Delegation. In short, the top 20 Storeman nodes with staking amount will finally enter to the Storeman Group.

  2. You have to buy the cloud service on AWS, Google Cloud or Ali Cloud, etc, and deploy your node on the cloud.

For the detailed operations of how to set up a Storeman, please go to Wanchain 5.0 Mainnet Storeman Setup Guide.

Milestones Hit by the First Storeman Group

8.3 Million WAN Staked!

The total staking amount of current Storeman Group has increased significantly, from 2.2 million WAN on November 15th to 8.34 million WAN as of December 27th.

APY of Up to 13.98%

Storeman Group APY has increased steadily, from APY 11.9% on November 15th to 13.98% as of December 27th (APY is priced in WAN).

Notice: Storeman Group APY is an average measure of both node and delegator APYs. Therefore, APY of Storeman nodes is higher than 13.98%, while APY of delegators is lower than 13.98%.

Over $2.5 million in Cross-chain Assets

The value of cross-chain assets including BTC, ETH, EOS, USDT, and more now exceeds 2.5 million USD.

At present, there are primarily 6 types of WRC20 tokens on Wanchain, namely WAN (and wrapped WAN), wanETH, wanBTC, wanUSDT, wanUSDC, and wanEOS.

The total value of cross-chain assets on Wanchain has reached USD 2.56 million on December 29th, 2020 and continues to grow.

About Wanchain

Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.

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