# Nodes/Locked-staking (Completed) ## What is a Node? Users may be familiar with the concept of validator nodes which as the name suggests validating transactions on a blockchain, in most blockchain networks these validators are rewarded for their efforts with native tokens. GoldMint Fi Nodes are not transaction validator nodes however they follow this concept of rewarding locked-stakers with GLDM rewards for their efforts. Users deposit GLDM to purchase a node which in turn deposits 90% of that into a reward pool that drips daily rewards back to all node holders thereby granting a passive income in return for locking up your GLDM. 5% of the remaining GLDM will be used to help boost our NFTs coming soon. The other 5% is sent to the DAO and used to increase protocol sustainability through several mechanisms, depending on TWAP, including adding to the GLDM/PAXG LP and/or investing in other protocols to generate a non-protocol specific income that can be used to directly support the system. Our node operates in a similar manner to the many well-known investment-type node projects in existence such as Grape Fi (our lovely partner/friends) and others. ### Disclaimer & Risks Note that investing in DeFi is experimental and risky, there is no guaranteed return on any product or investment. By participating in GoldMint Finance, you agree that the team/company is not responsible for any financial losses from investing in GoldMint Finance, nor do we promise any returns now or in the future ## GoldMint Fi Nodes {% hint style="warning" %} #### The first thing you must know is that to be able to participate in the Nodes, you **need** to be WHITELISTED! There are unlimited whitelist spots. What does WL offer you? Not only does it allow you to acquire Nodes, but it will also grant you bonus's in the future and give you an advantage for later systems. One you might see is a discount on future NFT releases or early access to something we drop. More to come soon... To get a WL spot you have to send 0.125 PAXG to our DAO,\ 0xf372fdf10d31a01F028FEBe7894449402536ff99\ or you can join the Discord and try to win one within the events/contests that are held.\ \ After you have sent the PAXG, please open a support ticket in our discord server for further assistance. {% endhint %} GoldMint Finance Nodes are here to help the ecosystem by providing more utility, support, and sustainability by introducing a form of "locked-staking" within our multi-token protocol. Nodes will be limited in relation to the amount of GLDM in circulation and will regularly cost 1 GLDM, though this first round will be at a 20% discount costing 0.8 GLDM. Participants earn rewards in a linear method of 1.6% daily (0.4% per Epoch) for a total of 96 days, this comes out to a return of 144% quarterly (more information further down). Nodes give a fixed return unlike our VAULTS and MINT which have a variable APR, this will provide an area to reward long-term participants/holders with a slightly higher and stable yield than the VAULT, and in turn, lock up a portion of the GLDM supply helping to reduce market sell pressure on GLDM. We use the terms locked-staking and Nodes together because they are essentially the same, the main difference is with a Node you cannot pull out your initial deposit with the rewards earned like normal locked-staking. Instead, you are giving your tokens to a contract pool that distributes those tokens back to the participants over time. ## Main Details * Limited amount of total Nodes which correlate to the amount of GLDM in circulation, new Nodes will only be released when over peg or when all Nodes have reached 100% ROI or expired * Unlimited Nodes per wallet * Fixed 1.6% daily return that expires after 96 days = max ROI of 144% ### Tax: Compounding before a Node has made its full ROI will put it through a claim first, and therefore you will get taxed based on the peg at the time. * 20% Tax on early claim when GLDM is under peg :chart\_with\_downwards\_trend: * 10% Tax on early claim when GLDM is above peg :chart\_with\_upwards\_trend: * 2% tax to compound rewards into new Nodes * 2% Tax on Fully vested withdrawal ### First set of Nodes: * 1500 total Nodes available: * 1000 GLDM Nodes costing 0.8 GLDM token * 500 BGLDM Nodes costing 0.8 BGLDM token First round is 20% cheaper than normal, compounding will be 1 token. Distribution of GLDM tokens: 90% to the reward pool - 5% to the DAO - 5% to NFTs (All BGLDM goes to the DAO to further support the protocol) ## Sustainability & ROI We believe adding Nodes into the Seigniorage ecosystem will only improve and benefit the utility, as long as it is done in a meaningful way. That's why we are taking a different approach than other projects' Node systems and really focusing on the overall sustainability by implementing limited Nodes that emit fixed daily rewards for a quarter of a year. GoldMint Finance Nodes yield a fixed 1.6% daily and will expire after a total of 90 days, meaning you will receive a maximum ROI of 144%. There's also a limited amount of Nodes that will be available, this is based on the circulating supply of the GLDM token, and how many Nodes are available/expired. In this first round, 1500 Nodes will be available at no limit per wallet, with 1000 GLDM Nodes and 500 BGLDM Nodes available, (yes that's right, Bond nodes), though keep in mind that BGLDM Nodes will pay out GLDM as rewards. {% hint style="warning" %} We are aiming to release tiers within our next round of Nodes that will have different purchase rates with different ROI, this is to offer more levels of entry and more incentives within the system. Another idea is to release LP Nodes, but more on that soon... {% endhint %} There are a few different methods to help ensure we can provide stability in the Node system, one being a variable tax on the claim of rewards. To enter the Nodes there is a 0% deposit fee but when claiming rewards you will have 0% tax on compounding into a new Node and only a small 2% tax if you let your Node accumulate all of its rewards before claiming any. Though if you claim early (don't let all the rewards accumulate fully) and GLDM is over peg you will have a 10% claim tax, but if GLDM is below peg, you will have a 20% claim tax. This tax is to help maintain the longevity of the Nodes and incentivize keeping your tokens locked up in the protocol without constantly dumping the earned rewards. The GLDM obtained from the tax will be distributed as follows; 50% to the Node reward pool, and 50% to the DAO. If needed the DAO will send back the GLDM earned to the reward pool. To maintain the 144% ROI we have a few means to bring more GLDM into the reward pool, one of which will be the release of NFTs coming soon that will have some fun gamification mechanisms and rewards attached to them. We are also going to designate 5% of Mint (Boardroom) prints to this pool, as well as some new additions that haven't been mentioned before (alpha), to ensure that it can produce the full ROI. Lastly, only if needed, the DAO will be able to support the pool and provide GLDM to the loyal Node holders. The Distribution of the tokens entering the Node system is as follows, 90% to the reward pool, 5% to the DAO, and 5% to the NFTs. The 5% going to our DAO is to help provide more overall strength and support for the entire GoldMint Fi ecosystem, while the 5% going to the NFTs is going to be a little surprise that will be dropped soon, which will in turn help the ecosystem and benefit the Nodes. ## Extra For help or strategies, [check here](/whitepaper/help-and-strategies/healthy-strategies.md). *** --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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