The Sentinel incentive bandwidth mining program is about to launch

2023-07-13 11:41:02

Collection

Anyone can participate in earning rewards by hosting Sentinel dVPN Wireguard nodes.

Compiled by: ChainCatcher

The long-awaited incentivized bandwidth mining program by Sentinel will launch on November 1st at 12:00 PM UTC on its own Cosmos-based Hub.

This incentive program is open to everyone in the Cosmos community and other crypto communities, and anyone can participate by hosting a Sentinel dVPN Wireguard node on their Linux or Mac-based systems or virtual machines. Participants must meet certain eligibility criteria in various aspects such as node uptime and minimum bandwidth transmitted to earn rewards.

The process of generating network rewards in exchange for providing bandwidth to Sentinel's dVPN network is called "bandwidth mining."

This incentivized bandwidth mining program is significant because:

The Sentinel ecosystem is fortunate to have the support of the HandyHost team, which has released the HandyHost miner, allowing users to set up Sentinel dVPN nodes with just a few clicks in an easy-to-use interface.

This incentive program marks the transition of Sentinel's Ethereum-based dVPN network to its own native dVPN network based on Cosmos, which offers exponential growth in scalability and resilience compared to the Ethereum-based dVPN network. The existing Sentinel dVPN applications on the AppStore and PlayStore (and the Velocity dVPN third-party applications) will soon be replaced by Cosmos-based clients, marking the end of a wonderful journey for these Ethereum-based mobile applications with over 500k active installations.

dVPN applications built on Sentinel will be able to accept any tokens integrated with the Cosmos IBC protocol, which will soon include Bitcoin and Ethereum, as well as stablecoins like USDT when the bridge is fully established. In addition to crypto payment gateways, third parties are integrating payment gateways with the Sentinel dVPN protocol to allow dVPNs built on Sentinel to accept fiat payment channels.

Participants in this incentive program should allow payments in UST and ATOM to maximize rewards, and these participants will become the first dVPN node hosts to accept interoperable payments, making history.

Validators on the Sentinel hub should enable ATOM, UST, and OSMO transaction fees on our blockchain to simplify the user experience for consumers interacting with dVPN applications.

Now, with Sentinel Hub becoming part of the Cosmos IBC network, the Sentinel wallet can now receive Terra UST, which was recently integrated with IBC. The Cosmos interoperability protocol is the most complex to date in terms of scalability and significant security.

Moreover, with Sentinel launching its first dVPN mobile application on Android and iOS, this incentive program encourages increased participation from dVPN node hosts.

The Sentinel dVPN for Android (based on Cosmos) is now available in the Google Play Store, link below!

play.google.com

The incentivized bandwidth mining program will start on November 1st and will continue indefinitely until further notice.

Participants in the program will host dVPN nodes that will support the upcoming iOS and Android dVPN applications, as well as the existing CLI-based desktop dVPN client that has been running for 6 months.

Daily reward snapshots will be taken to track the eligibility criteria that node hosting participants need to meet. Rewards will be distributed on the 1st of each month.

A dedicated rewards program website will be launched soon, where participants can track their performance in the program.

(uDVPN is a subunit of DVPN, 1 DVPN = 1,000,000 uDVPN) Given the price volatility of DVPN, this pricing range will be updated next month. Ideally, during the initial phase of the network, $0.05 per GB should be the highest price to promote network development.

*Not mandatory, but strongly recommended to obtain potential special rewards.

The reward pool for the program will distribute rewards on the 1st of each month.

The first pool will start with $25,000 in November, and if successful, it will gradually expand based on demand in the following months.

The monthly payment amount from the pool will be of fixed size and will be shared proportionally among all nodes that meet the program's criteria.

The pool will be able to target and incentivize a specific number of nodes by adjusting its size as needed, maximizing the observed network utilization efficiency.

The amount of rewards each user receives is inversely proportional to the number of participants, so high rewards should incentivize the community to participate during times of lower engagement, such as at the start of the project.

While expenditures are made monthly, node performance monitoring is conducted daily.

Additional reward categories:

Bandwidth miner performance rewards:

1st place ------ The highest bandwidth transmission for the month receives 10,000 DVPN.

2nd place ------ The second highest bandwidth transmission within the month receives 6,000 DVPN.

3rd place ------ The third highest bandwidth transmission for the month receives 4,000 DVPN.

An additional 22 nodes among the top 25 (based on transmitted bandwidth) will receive DVPN rewards worth $20 in recognition of their performance.

Official GitHub download link for the Handyhost application for Linux and Mac:

github.com

Official video setup guide for the HandyHost application (Linux/Mac):

Official GitHub download link for the Linux and Mac Docker images of Sentinel dVPN Wireguard nodes:

github.com