1. Download a node
2. Select Tasks to run
3. Stake KOII tokens
4. Earn KOII, and run more Tasks
Running a node to earn KOII is super easy, it just takes a small amount of software that will work in the background while your device is plugged in and on WiFi.
If you have 250MB of space on your hard drive and 1GB of RAM you’ll be all set to run a node.
You get to choose which types of contracts to validate with your node. The easiest way is to select all available Tasks (this is the default setting).
You can specify Tasks that offer a bounty above a chosen amount, or only certain contract types.
As Koii grows, the number of types of contracts will grow as well. If you select by contract type, make sure to check in once in a while to see what other contracts you could be running.
To interact with the network, nodes must add KOII tokens to the staking vault and choose a lock period of at least 24 hours. The network requires staking to incentivize good behavior.
If a node acts in bad faith (falsifying data, for instance), the network will vote to take their staked tokens (“slashing”).
If you are simply running a node and not engaging in nefarious activity, you don’t need to worry about your stake being slashed.
You get to choose how many tokens to stake on each Koii Task your node runs. The more you stake, the more you earn.
After a Task is complete, the Task’s bounty is rewarded to participating nodes, proportional to the amount of staked tokens. If you staked 20% of all tokens staked, you will receive 20% of the bounty.
This means it is better to stake many tokens on a small number of Tasks than a few tokens each on hundreds of Tasks.
We are currently developing the next version of the Koii Node.