I just wanted to pop by and remind everyone on the forum that iNodez offers shared masternodes where you can earn rewards on less than a full masternode. We also host full masternodes where users can keep the 1000 FIRO in their wallet if they have the full collateral required already. We charge no upfront fees and we take a shared of earned rewards to cover operating costs. We keep 8.5% of rewards currently earned for this and 91.5% of rewards are distributed daily back to the users that have FIRO on the iNodez platform.
This means we are able to currently offer roughly ~16% APY net returns paid out daily (when rewards are available to the node pool) on all FIRO deposited with iNodez without any regularly occurring fees to users. Regular withdrawals are free and occur at the end of every month. We also just introduced early withdrawals with a small fee for users that don’t want to wait until the end of a given month.
We are currently operating 28 shared FIRO masternodes. Please note this requires you to send FIRO to the platform meaning it is a custodial service and you have to request a withdrawal to get your deposited collateral back similar to an exchange. However, unlike an exchange, we do not offer any trading and all our supplies are verifiable on the FIRO explorer. You can always see the IP address and collateral addresses of nodes we are running through our website to verify the funds are locked in place as they should be.
Although we do our best to utilize best security practices, all custodial options have risks and you should be aware of these! If you have enough FIRO to run a full node yourself, we encourage that as the best option. iNodez is simply a way to earn returns on fractions of nodes and/or to provide rewards for users who don’t wish to maintain and operate nodes themselves. The minimum to join the site platform and earn returns is currently 5 FIRO. We can also operate a full node for you while you hold funds locked in your own private wallet if you have the entire 1000 FIRO needed for a node as well.
Please feel free to look over the site at: https://www.inodez.com/
or drop into our discord server if you have questions (discord server link is on the bottom of the homepage).
The fee for hosting a full node (1000 FIRO collateral stays in my wallet) is also 8.5%?
If so, with the current rise of FIRO, it is more expensive than AllNodes…
Since I think this may be inodez first post here, they recently increased their rates due to the bear. It doesn’t make sense to impulsively drop rates pre-emptively, so for this month, maybe 8.5% is higher, but in 60 days when FIRO may have proven it can hold its price? Rates used to be 5%. The rates aren’t adjusted dynamically, so how things work out in the long run you will probably still be correct - using another service may still be more cost effective.
Still, there’s something to be said for a Masternode host that allows you to pay AFTER the fact, and in the reward currency itself. Something unique for anyone looking for avenues to eliminate fiat from their operations.
It is entirely possible that we are not the cheapest option at this time. The goal is to lower the fees again in the future, but we did recently increase them due to the bear market and for the fact that we don’t accept fiat at all so we are somewhat at the mercy of the current market in terms of covering overhead costs. I would say to research all your options and go with what works best for you certainly.
INodez fees are pretty reasonable still IMO and when the Firo price was lower they were actually cheaper than doing it yourself. Can’t really compare apples to oranges
Hi @iNodez
Following your post, I would like to try hosting a FIRO masternode with iNodez.
I have the 1000 FIROs collateral so, no need to make a shared masternode: FIROs remain in my wallet.
I searched in your website, but I did not understand how to make you manage this personnal FIRO masternode (just a shared one).
Are there explanations somewhere? How to make it ?
Hi @Zen
It’s a fairly simply process where you input a single registration command into your unlocked wallet. We can provide you with an ip address and public bls key for the command and you would fill in the rest of the info in terms of desired rewards payout address along with a few other items in the command. If you’d like to try it, we can discuss the setup command and info you need in direct messages.