Summary:#
Logical Architecture#
- The mainnet consists of DSL and VSL.
- DSL (Data Sublayer) includes all nodes and can be understood as the data business layer.
- VSL (Value Sublayer) consists of dApps, which are used by developers and users to access the RSS3 mainnet hub, where the RSS3 ecosystem unfolds.
In simple terms, DSL is similar to the backend of Taobao, and VSL is equivalent to the Taobao webpage. The latter is responsible for transactions between sellers and buyers, while the former ensures the execution of all business logic.
Economic Architecture#
- The mainnet consists of decentralized nodes and dApps, with nodes divided into regular nodes and public nodes.
- Regular nodes require staking of RSS3, and stakers can receive node rewards.
- Public nodes do not require staking and do not participate in any form of incentives. Their main purpose is to serve the public interest.
Stakers#
- Staking RSS3 to nodes will result in corresponding RSS3-N Chip NFTs (familiar to DeFi players). The amount of RSS3 staked must be a multiple of Chips, and any excess will be refunded.
- Chips can be used to redeem RSS3, with a waiting period of 22.5 days or 30 mainnet epochs (my guess - in the future, Chips may also be directly tradable).
- The staking tax rate (reward for stakers) is set by the node operator.
Node Operators#
- Node taxes are settled every epoch. If the tax amount is less than or equal to 25 times the staked amount by the node operator, the node receives the full tax amount. Otherwise, the excess beyond 25 times is allocated to the public interest pool.
- The minimum staking amount for regular nodes is 10,000 RSS3. Otherwise, the tax will be fully allocated to the public interest pool.
Public Interest Nodes#
Users can stake RSS3 to the public pool to increase the trust value of public nodes. Public nodes determine the tax rate based on the average tax rate of all regular nodes, and all taxes will be donated to the Open Information Grant.
All Rewards#
- Each year, 3% of the total RSS3 supply, which is 30 million, will be used for network rewards (operational rewards, staking rewards, and trust rewards).
- These three rewards correspond to node operators, regular node stakers, and public node stakers.
There were some misunderstandings in the first version, which have now been corrected. It is important to note that the mentioned taxes are the portion collected by the node operators from the staking rewards, so the tax rate represents the proportion collected by the node operators.
Penalties#
- Nodes will be downgraded if they report inaccurate data or fail to process requests.
- When a node is downgraded four times within an epoch, it will be penalized.
- The penalty includes deducting 2% from the staking pool (staked RSS3) and 10% from the operational pool (receives taxes and rewards).
- Once the penalty starts, the node's trust score is reset to 0, and it will be unable to receive any network requests until the current epoch ends.
- 50% of the penalty proceeds will be directly destroyed, 10% will be used to reward the reporter of the node, and the remaining amount will be donated to the public interest pool.
- Regular nodes can appeal the penalty within seven epochs. If the appeal is successful, the penalized tokens will be refunded.
- Public interest nodes will only be downgraded and will not be subject to token penalties.
RSS3 Token Inflation#
Basics#
- In the first year after the mainnet launch, there will be no additional issuance, and the total supply will remain at 1 billion. The circulating supply will change based on token releases and node penalties.
- Starting from the second year, there will be an annual inflation of 3%, which corresponds to the network rewards mentioned above.
5-Year Circulating Supply Curve#
From February 2022
Other details await official announcement.