TFGrid 3.14 Farming Updates

Table of Contents

Introduction

We present the farming updates for TFGrid 3.14.

For this version of the grid to take place, we must first decide its parameters and features, and second we must pass grid enhancement proposals (GEP) to set the agreed upon parameters and features.

Note that this documentation is for TFGrid version 3.14. It is subject to change based on the feedback from our community. Read more and join the discussion on the ThreeFold Forum.

3.14 Parameters

We discuss the parameters needed for the TFGrid 3.14.

Farming Rewards

We bring many important changes to the farming rewards. This should benefit users and farmers alike.

  • Farming reward stays the same, price on 0.08
    • If price > 0.08 for more than 30 days, then the farming price changes ...
  • Max 1 billion TFT on Stellar chain
  • Uptime checks include network, min BW, quality of HW (needs to be further specified)
  • All farmers have done KYC/AML
  • Bigger farmers can sign with DMCC for SLA, which will be visible, with penalty in locked tokens by TF DMCC/COOP, there is contract involved, which gets linked to TFChain

The cooperative will resell capacity (using TFT at back) and redistribute margin as follows:

  • Give 50% on utilization to farmers
  • Give 10% on utilization to the stakers on the validators
  • Give 40% on utilization to treasury of TF Cooperative

For more information, see here.

UI & Explorer

We want to make sure the user interface (UI) and the user experience (UX) are as good as possible. Providing users with as much information as possible on their deployment will allow them to take sound decisions that benefit them.

  • track more info about nodes in explorer, easier for people to select which node is good one
  • info about mem, cpu, ...
  • unified way how to query nodes in UI
  • show that farmers are having SLA & link to their contract with TF DMCC or TF COOP

Governance

The governance of ThreeFold will be updated to a 1 TFT, 1 vote system. This will add value to TFT and allow anyone to participate in decisions around TFT by holding the coin and voting with the power it provides.

  • 1 TFT = 1 vote

GEP to Enable 3.14 Parameters

As discussed, we need to prepare the TFGrid for 3.14. To achieve this, we will pass GEPs in the coming weeks and months to ensure we are ready for 3.14.

GEP 1: Ongoing

  • 95% and 98% uptime requirement for DIY and certified nodes respectively
  • 50% of proof-of-utilization revenues will go to the farmer running the 3Node
  • Minting will be slashed for 1 month if the node cannot wake up within 30-minutes twice within the same minting period
  • When we reach 1 Billion TFT on Stellar, minting stops on Stellar
  • TFT burning will stop

References: Read the GEP on the Forum here.

GEP 2: TBD

This GEP is used to define further the role of the coop as well as define clear farming rules that will ensure high-quality hardware on the grid and reliable support from farmers.

  • incorporate more farming rules (see above)
  • utilization revenue distribution through cooperative (see above)

GEP 3: TBD

This GEP can be done once voting system has been changed and GEP 1 and 2 are done.

  • Agree on 9 directors for cooperative

GEP 4: TBD

This GEP can be done once voting system has been changed and GEP 1, 2 and 3 are done.

  • Agree on 9 guardians who run the validators

Questions and Feedback

We highly encourage everyone to discuss on the forum about this exciting phase of the ThreeFold adventure.

Please share your thoughts and feedback on the ongoing forum post here.