Splinterlands to Provide Validator Nodes with $1 Billion in Rewards

Splinterlands to Provide Validator Nodes With New License Offering

Splinterlands, one of the most prominent play-to-earn (P2E) games, is scheduled to transition to Splintershards (SPS) validator nodes to provide a decentralized validator network for validating network transactions with 1$ billion burn and rewards. The SPS Validator node software is projected to go live on the main net in the third or fourth quarter of 2022.

The SPS validator software will be open-source, allowing anyone to download, install, and use it without any additional expenses or limitations, although node licences will be obtained through SPS payment. It will first be available as a "docker container" for Linux workstations, with Windows and MacOS versions following soon after. The node software is now undergoing internal testing, with the mainnet expected to deploy in the fourth quarter of 2022. Participants who want to be a part of the new initiative might buy validator node licences at a later date.

Matt Rosen, Founder & CPO of Splinterlands, said:

There will be a governance system that will work through Delegated Proof of Stake (DPoS). It's very similar to Hive, BSC, and EOS. Like Gala Nodes, our SPS Node will help us secure the Splinterlands Network. So, people who own the SPS token will have voting rights and can elect entities to validate all SPS transactions. We believe this is beneficial for both users and validators. We'll have a system that puts the community first.

Akin to other prominent networks like Binance Smart Chain, EOS, and Hive, the SPS governance mechanism will leverage the DPoS (Delegated Proof of Stake) consensus methodology. Thus, any account holding staked SPS tokens will be qualified to vote for validator node accounts to select additional individuals or businesses accountable for verifying all SPS transactions and administering the SPS foundation money. In other words, the more staked SPS a validator has, the more blocks they will be awarded, and the larger their payouts will be.

Nevertheless, only a limited volume of accounts may earn the largest number of votes, and thus the majority of the prizes, in the process mentioned above. The Splinterlands team will introduce "licences," which will let all customers obtain rewards for operating nodes without having any staked SPS votes. These SPS licences are available for purchase using a mix of SPS and VOUCHER tokens. Additionally, 80% of the SPS tokens and 100% of the VOUCHER tokens used to purchase node licences will be burnt. When the 3 billion SPS token maximum is met, the residual 20% of SPS tokens will be transferred to the SPS Foundation and utilised to reward SPS validator nodes.

Splinterlands will release 60,000 licences in numerous phases, with the value of each phase escalating as the game progresses. NFTs (non-fungible tokens) will be used to buy, sell, and exchange these licences on secondary markets. Users can also use a single SPS validator node to validate numerous SPS licences. Users need to run the validator software once to accumulate rewards for all of their licences, even if they acquire several licences.

P2E games empower players to generate income by engaging in in-game activities. The prize might be a cryptocurrency, an NFT, or an appreciation in the price of an NFT that has already been acquired. Play-to-earn games, on the whole, are doing what traditional video games however do not: they compensate players for their time and effort invested in a game.

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Source: https://www.prnewswire.com/news-releases/splinterlands-to-launch-node-program-with-1b-burn-and-rewards-301525339.html