Tool

Zeepin Candidate Rule

1. Candidate Eligibility: Voting trusteeship is allowed among all ZPT holders during the node campaign. ZPT holders who are running for node have to lock up at least 1,000,000 ZPT and pay 11,000 Gala as the fuel cost.

2. Campaign Rules: STEP 1 Node Application; Open ZeeWallet and click "run for node" on dAPP. Enter the mortgage amount in ZPT (at least 1,000,000 ZPT), then click "submit." Once confirmed, the node campaign application is completed.

STEP 2 Entering the Candidate Pool: Once the application has been completed, Zeepin ranks all candidates based on the sum of "mortgage + votes"

STEP 3 Dynamic Changes: In the candidate pool, the ranking is a process of "dynamic changes." Faced with numerous competitors, your ranking could drop at any time. You can increase the votes you receive to solidify or promote your position on the ranking! Of course, you can also help your friends by giving their nodes your votes!; The voting process will last until the end of the election period. After the election, the nodes ranked 1 to 9 will be selected as “consensus nodes;” if the rankings are in the 10 to 51 interval, the nodes will be selected as “candidate nodes;” others will become “backup nodes.”; Candidate nodes must occupy at least one planet in CryptoGalaxy within three months and bind the information to its public profile (the binding is to be carried out on Zeescan: https://main.zeescan.io/)

STEP 4 Node Deployment: At the end of a campaign cycle, if a node is ranked between 1-51, it can apply to access the Zeepin Galaxy Consensus Network and become a Masternode.

Reviewing the access process:: 1. Submit node KYC information to the community governance committee through the campaign page;; 2. After the KYC audit is passed, according to deployment requirements, the node applicant configures the hardware and network before performing node deployment and block synchronisation;; 3. Formal access to the Galaxy Consensus Network will be granted after the node passes the community security team’s verification.

STEP5 Block Demonstration: Once a Zeepin Masternode, you can use Zeescan (the blockchain explorer) to review, edit, and bind node information. Zeescan link: https://main.zeescan.io/

3.Incentive System: Once you pass the final node election and become a Masternode in Zeepin Galaxy, whether you are a consensus node ranked 1-9 or a candidate node ranked 10-51, you can participate in the Galaxy Consensus Cluster governance and get all kinds of benefits.

There are mainly two types of revenue

Firstly, there is the revenue in ZPT, which worths 5% of the mortgaged ZPT during the campaign, and the revenue in Gala, which worths 20 times of the mortgaged ZPT;

Secondly, Masternodes in Zeepin Galaxy are eligible for regular "bonuses," which the system regularly distributes to Consensus Nodes and Candidate Nodes as revenue for participating in the governance.

40% of the total revenue will be allocated to the 9 Consensus Nodes, and 60% will be distributed to the 42 Candidate Nodes.

What is the estimated total revenue?

According to our minimum estimation, the average the Zeepin Chain transaction volume is 100tps, and each transaction costs 1 Gala. Therefore, the annual revenue of each of the 9 Consensus Node is approximately 140,000,000 GALA, and the annual revenue of each of the 42 Candidate Node is approximately 45,000,000 GALA.

Initial scale and the incentive scheme of Galaxy Consensus Cluster

Zeepin Incentive Curve

Note: Points A, B, and C represent the distribution of compensation for all nodes participating in the consensus, when their equity ratios reach the average equity ratio. The distribution scheme constructs a multi-game mechanism for node owners: sufficient ZPT mortgages allow them to join the consensus network, but too much ZPT mortgaged will lower node revenue. Thus, only the "right amount of" ZPT mortgages can maximise the revenue.

4. Other relevant rules
1. Candidate Node Augment Procedure: In case of a Candidate Node insufficiency, new Candidate Nodes are added according to the rankings of the Backup Nodes. Meanwhile, according to the network computing power demand, quarterly augments will be carried out based on the Backup Node ranking. Up to 3 nodes will be added each time and up to 101 nodes in 5 years.

2. Node Withdraw Procedure: In order to withdraw from a node campaign, you can apply to do so by clicking "my campaign."

Once a "Consensus Nodes" confirms to withdraw, its mortgaged ZPT will be returned to the original account after two campaign cycles, and the node will not be able to participate the next two node campaigns (after two campaign cycles, the node will be allowed to participate again).

Once the withdraw application from a "Candidate Node" or a "Backup Node" is confirmed, the mortgaged ZPT will only be returned to the original account after one campaign cycle, and the node will not be able to participate the next node campaign (after one campaign cycle, the node will be allowed to participate again).

3. Blacklist Procedure: If a node, after being elected as a Masternode, performs some malicious behaviour that harms the interest of the Zeepin network (please refer to the governance white paper for concrete rules), it will be added to the blacklist.

Rules of Punishment

Consensus Nodes:

① The node is no longer allowed to participate in the current consensus;

② the node is no longer eligible to participate in the next cycle of node campaign;

③ only after two consensus cycles, the node will be removed from the blacklist, and the mortgaged ZPT will be refunded accordingly to him;

④ the ZPT mortgaged by the node will be detained.

Candidate Nodes and Backup Nodes:

① The node is no longer eligible to participate in the next cycle of node campaign;

② after one consensus cycle, the node will be removed from the blacklist, and the mortgaged ZPT will be refunded accordingly to him;

③ the ZPT mortgaged by the node will be detained.

4. Blacklist Appealing Procedure: Blacklisted nodes can appeal to the Zeepin governance committee. If the appeal is approved, the node will be removed from the blacklist, and the mortgaged ZPT will be returned.