📌Running a Checker Node

To become a Checker within the KIP system, it is first necessary to purchase a Checker Node, which will then be associated with an ERC721 NFT that provides proof of ownership.

Upon deployment, your nodes will go live within the KIP ecosystem and begin receiving ping requests. The nodes will be set up automatically by the KIP team, but you will be able to manage them via Checker Node Owner Portal. And eventually, you can resell it via secondary markets.

For every check conducted, you will receive a reward provided via the KIP ecosystem fund and protocol transaction fees. In addition to this, if your check reveals a malfunctioning provider, this will trigger a secondary check by other Checker Nodes. If the nodes agree with your assessment, the provider’s stake will be slashed and the Checkers receive a proportion of the slashed amount. If they disagree, the decision will be noted. Thus, the Checker Nodes monitor both providers and each other.

Finally, your Checker Nodes will also grant you voting rights in the KIP DAO, allowing you to help rule on intellectual property disputes, and thus earn further rewards.

For more information on this, see here.