Phantasma Chain recently released information pertaining to its masternode staking model. Phantasma Chain is a content distribution and storage platform built on NEO, that uses blockchain to increase security and privacy. Its masternode staking model will “accept transactions from users, validate them and broadcast them to other nodes.”

As the SOUL token supply is finite (91,136,374 tokens total), theoretically the number of masternodes can’t exceed 1,822 nodes. To deploy a Phantasma masternode, hosts will need to meet the following requirements:

  • A minimum stake of 50,000 Phantasma Chain tokens (SOUL)
  • Host a virtual private server (VPS) or server 24 hours a day, 7 days a week.

It should be noted there will be a minimum 30-day waiting period required of staked tokens before they can be unstaked.

Transaction fees on the network are designed to be split, with some of the fees redistributed from a pool, to the active masternodes at a fixed interval. Additionally, fees will be rewarded to the block validators for every block generated.

As an added incentive, Phantasma Chain also aims to reward masternodes with a 2% bonus. To receive the bonus, participants will have to set up a masternode within the first three months following Phanstama Chain MainNet launch and their SOUL tokens will need to be staked for at least 360 days.

The date of the Phantasma Chain MainNet launch has yet to be announced.

More information on Phantasma Chain is available through the links below.

Written by Vincent Geneste