Sharenodes: Making masternodes accessible
Sharenodes are tradable assets that facilitate fractional ownership of pooled masternodes.
Sharenodes are a “win-win” feature of the new ionomy platform. Traditionally, masternodes have presented an attractive opportunity for earning passive income by committing to hold large amounts of cryptocurrency and allocating processing power to secure the coin’s network. Until now, the expense of acquiring a full masternode and the technical knowledge required to operate one have been the two main barriers to entry. ionomy’s Sharenode innovation addresses both challenges.
The ionomy team started asking, “How can we make network participation and masternode rewards more accessible regardless of wealth or technical knowledge?"
Previous third party efforts, like community masternodes, have made gradual steps towards masternode accessibility. But the mechanism for cooperation was inefficient: it was hard to get in and hard to get out of community masternodes because there was no liquidity. ionomy uses the Sharenode Exchange to achieve market efficiencies. Now you can buy Sharenodes in any quantity and receive daily payouts. There are no trading commissions. Once you own a Sharenode, you’ll keep getting daily payouts.
How Sharenodes work
ionomy maintains a pool of dedicated Masternodes and sells shares entitling the buyer to a share of the daily rewards pool. The pooled rewards are distributed proportionally to Sharenode owners (less a 2% maintenance fee) at a scheduled time each day. Since the payouts come from pooled rewards, the reward frequency becomes more regular the larger the pool grows. Predictable rewards is another Sharenode advantage.
As a result of this innovation, ionomy has opened up masternode participation to anyone who wants it, no longer just those with enough assets to own an entire masternode. Plus, with Sharenodes, ionomy takes care of the initial technical setup, activation, and ongoing server maintenance. Daily payouts are delivered directly to your account.
ionomy currently operates 20 dedicated ION masternodes, 1 PIVX masternode and 2 DASH masternodes. The DASH Sharenodes aren’t available for purchase yet. ionomy will maintain a public list of masternodes that make up the Sharenode offerings. As new nodes come online (or are taken offline) according to supply and demand, ionomy will update the list for public auditing. Using a third party explorer, it’s easy to verify that Sharenode payouts correspond to the pooled rewards from actual masternodes.
The ION community has taken the Sharenode market by storm. In just the first week, platform users bought 85% of the available stock! Currently, users can trade ION for ION Sharenodes (IONSX) and PIVX for PIVX Sharenodes (PIVXSX) on the Sharenode Exchange. ionomy will be offering more Sharenodes as it adds support for more masternode coins to the platform.
Sharenodes — a tradable asset that earns masternode rewards
If you have any questions about Sharenodes or anything else in the ionomy universe, please contact us at email@example.com.