👾What is the Checker Node License (NFT)?

Checker Node License (NFT)

The Checker Node License is an ERC-721 non-fungible token (NFT) that represents authorization to operate a verification node on the KIP Protocol network. Possession of a valid Checker Node License NFT is required to participate in transaction validation and receive block rewards/fees. The Checker Node License allows you to earn rewards by running a Checker Node Client.

You can choose to run your Checker Node Client on your own laptop / PC, through a VPS or a NaaS (nodes-as-a-service) supplier, or delegate to another user's machine.

Checker Node Details:

• 50,000 Node Licenses across 33 tiers;

• See table for pricing of each tier and implied tier FDV;

• Implied tier FDV of 50% assumes 50% of total nodes are active;

• Checker Node NFT transferrable 6 months post-TGE.

Checker Node Rewards:

• 20% of total token supply allocated for node rewards;

• Rewards earned every 15 min over emission period of 3 years;

• Nodes begin emission within the 7 days following TGE;

• No cliff - withdraw every 30 days from the last withdrawal.

Licenses are NFT assets that may be sold on secondary markets. This allows for liquidity and value accrual over time.

By purchasing a Checker Node License NFT, individuals can directly participate in securing KIP Protocol's network by conducting random checks on providers and earn yields from processing rewards. License owners agree to maintain network integrity.