Maya Protocol One-Stop-Shop
  • Introduction
    • 🍫What is Maya Protocol?
      • Getting Started
      • Roles
        • Liquidity Providers
        • Swappers
        • Arbitrageurs
        • Node Operators
      • Maya Protocol Native Assets
    • 🌐Maya Ecosystem
      • User interfaces & Wallets
      • Tools
    • 🍫How to buy CACAO?
    • πŸ›£οΈRoadmap 2025
  • Deep Dive
    • πŸšΆβ€β™‚οΈStep-by-Step Guides
      • Set up a MAYAChain wallet
        • Using El Dorito Club
        • Using THORWallet web APP
        • Using THORWallet Mobile APP
        • Through MAYANode cli
        • By importing Ledger hard wallet into Ctrl Wallet
      • Custom Memos
        • Swap
        • Add Liquidity
        • Withdraw Liquidity
    • πŸ› οΈHow It Works
      • Technology
      • Incentive Curve
      • Fees
      • Governance
      • Constants and Mimir
      • Security
      • Dynamic Inflation
      • Liquidity Nodes
      • Impermanent Loss Protection (ILP)
      • ELI5
        • What is Threshold Signature Scheme (TSS)?
    • πŸ’΅DeFi Products
      • Synthetics
      • Liquidity
    • πŸ”Audits
    • 🎭Maya Masks
    • ❓FAQs
  • Blockchain Explorer
    • πŸ”ŽMayaScan
      • πŸͺ™MRC-20 Tokens
      • πŸ–ΌοΈM-NFTS
  • Airdrop
    • πŸͺ‚$MAYA Airdrops Guide
  • Media
    • πŸ“½οΈAaluxx Interviews
    • 🐦Twitter Spaces
    • πŸ”—Links
  • Contribute
    • 😎Ambassador Program
    • 🎨Content Creators Guide
  • Node Docs
    • πŸ–₯️MAYANodes
      • MAYANode Overview
      • Cluster Launcher
        • Setup - Linode
        • Setup - Azure
        • Setup - Hetzner Bare Metal
        • Setup - Google Cloud
        • Setup - HCloud
        • Setup - Digital Ocean
        • Setup - AWS
      • Deploying
      • Joining
      • Managing
      • Pooled MAYANodes
      • Alerting
      • Leaving
      • πŸ›‘Emergency Procedures
      • βœ”οΈ CHECKLIST
      • Multi-node Deployment
      • Fullnode Installation Guide
    • Bonding & Unbonding Guide
    • Bare Metal Node Guides
  • MAYACHAIN DEV DOCS
    • Introduction
      • MAYAName Guide
      • Swapping Guide
        • Quickstart Guide
        • Fees and Wait Times
        • Streaming Swaps
      • Add MAYAChain to your Wallet
    • Examples
      • Tutorials
      • Typescript (XChainJS) WIP
        • Query Package
        • AMM Package
        • Client Packages
        • Packages Breakdown
        • Coding Guide
      • SwapKit SDK
    • Concepts
      • Connecting to MAYAChain
      • Querying MAYAChain
      • Transaction Memos
      • Asset Notation
      • Memo Length Reduction
      • Network Halts
      • Fees
      • Delays
      • Sending Transactions
      • Math
    • Aggregators
      • Memos
      • EVM Implementation
    • CLI
      • Multisig
      • Offline Ledger Support
    • Protocol Development
      • Adding New Chains
      • Chain Clients
        • UTXO
        • EVM Chains
        • Cosmos Chains
      • ERC-20 Tokens
      • THORChain Version Updates I
      • THORChain Version Updates II
  • White Paper
    • πŸ“–Maya Whitepaper 2.0
      • Introduction
      • 🍫Fair Launch
        • Philosophical perspective FL
        • Economic overview FL
        • Technical overview FL
      • πŸͺ™$MAYA token
        • Philosophical perspective MT
        • Economic overview MT
        • Technical overview MT
      • 🌊Liquidity Nodes
        • Philosophical perspective LN
        • Economic overview LN
        • Technical overview LN
      • πŸ”’Security Nodes
        • Philosophical perspective SN
        • Economic overview SN
        • Technical overview SN
      • πŸ”΄Aztec Chain & $AZTEC token
        • Philosophical perspective AC
        • Economic overview AC
        • Technical overview AC
      • βš–οΈStable Pools & Route Optimization
        • Philosophical perspective RO
        • Economic overview RO
        • Technical overview RO
      • πŸ‘£Roadmap. Maya 3.0
        • Philosophical perspective 3.0
        • Economic overview 3.0
        • Technical overview 3.0
  • Website
  • GitLab
  • Archive
    • Liquidity Auction
    • THORChads Airdrop
    • Add ETH, USDC, or USDT through THORWallet using Metamask + Ledger
    • $MAYA Airdrop for Maya Mask Holders
    • Maya Integration Guide
    • Roadmap 2023
Powered by GitBook

Social Media

  • Twitter
  • Telegram
  • Discord
On this page
  • Summary
  • Rationale
  • Economic Security
  • Managing a Pooled MAYANode
  • Node Operator
  • Bond Provider
  • Reward Shares

Was this helpful?

Export as PDF
  1. Node Docs
  2. MAYANodes

Pooled MAYANodes

Summary

Skilled Node Operators who don't individually have enough Liquidity Units (Asset + CACAO) to run a node themselves can use the Bond Provider feature to collect bond from other Liquidity Providers.

Node Operators can define up to 8 Maya addresses as Bond Providers. These addresses will be able to bond and unbond to the node, earning rewards proportional to the amount of bond they contribute. Node Operators define an operator fee in basis points, which defaults to zero and must be set explicitly when bond providers are added. The Node Operator fee is taken from rewards and paid directly to the Node Operator address after each churn.

Rationale

The minimum Value of Liquidity Units needed to churn in as a MAYANode can be pricy (currently above $100k).

Not many people in the world have both the technical skills to run a validator AND at least $100k, which limits the supply of Node Operators who secure MAYAChain.

Pooled MAYANodes provide a way for a skilled Operator to enter a trusted agreement with Bond Providers to bootstrap enough capital for running a MAYANode. The Network's security increases, and Liquidity Providers can earn more yield.

Economic Security

At first glance it might seem Pooled Validators contradict the economic security model of MAYAChain (i.e. that Node Operators put up more in value in slash-able bond than the assets they secure). With Pooled Validators it is possible for the Node Operator to individually put up less bond than the value of the assets that the node secures. However this nuance only exists within the relationship between the Node Operator and the Bond Providers. The Network only considers the MAYANode as single entity thus the economic model is intact.

It would be disastrous to MAYAChain if operators could collect unlimited bond quantities from anon/retail providers. Malicious Operators could start marketing campaigns collecting liquidity and then rug-pull their users, or worse, access economies of scale and take over the network.

This is why Pooled MAYANodes are invite-only and limited to 8 per node. It is difficult to access economies of scale in these small quantities.

Managing a Pooled MAYANode

All CACAO Amount values are in 1e10 decimals, e.g. 1 CACAO = 10000000000.

Node Operator

Adding a Bond Provider

Add a bond provider using a BOND transaction with a modified memo from a wallet you control (APP or mayacli):

BOND:<NodeAddress>:<BondProviderAddress>:<NodeOperatorFee>

Example: BOND:maya7djftrgu98z84hef6dt6ykhe7cmjf3f8dcpkfun:maya9diy4q8u50qzsznpvh02s8j483aga63cl02k6jt:2000

  • NodeAddress - MAYANode address (prefixed by maya)

  • BondProviderAddress - Bond Provider address to whitelist (prefixed by maya)

  • NodeOperatorFee - fee in basis points to be taken from rewards and paid directly to Node Operator's address after each churn.

  • CACAO TX Value - 2 minimum (anything over 1 is added to the Operator's Bond).

A Node Operator is the first on-chain bonding transaction to a new node. You cannot change the operator address after the fact.

The Operator is also added as a Bond Provider.

Removing a Bond Provider

While the node is churned out, A Node Operator can remove a Bond Provider using an UNBOND transaction with a modified memo:

UNBOND:<NodeAddress>:<Amount>:<BondProviderAddress>

  • NodeAddress - MAYANode address (prefixed by maya)

  • Amount - amount of Bond Provider's bond to refund

  • BondProviderAddress - Bond Provider address to refund/remove (prefixed by maya)

  • RUNE Tx Value - 1 minimum

This command will refund the Bond Provider their bond and remove them from the Bond Provider list only if Amount constitutes all of the bond the Bond Provider is owed.

Node Operator Fee

Node operators can set a fee that is paid to them from the earnings each churn.

To set a Node Operator fee, send a deposit transaction with the following memo:

BOND:<node address>:<bond wallet address>:<operator fee in basis pts>

Example: BOND:maya1agftrgu74z84hef6dt6ykhe7cmjf3f8dcpkfun:maya1tfm4q8u57qzsznpvh02s8j483aga63cl02k6jt:2000

To adjust the Fee, The no operators can send: BOND:<node address>::<operator fee in basis pts>

Example: BOND:maya3guru5gu74z79hef6dt6ykhe7cmjf3f8dcfudge::4000 to see the fee to 40%.

Fees can range from 100 to 9900 basis pts. Setting 10000 causes all rewards to be to the node operator each churn. Setting it to 0 causes rewards to accrue to the bond.

Bond Provider

Adding/Removing Bond

Once whitelisted, a Bond Provider can Bond and Unbond from the node as normal.

Adding Bond:

BOND:<NodeAddress>

  • NodeAddress - MAYANode address (prefixed by maya)

  • CACAO Tx Value - Amount of LP to bond

Removing Bond:

UNBOND:<NodeAddress>:<Amount>

  • NodeAddress - MAYANode address (prefixed by maya)

  • Amount - Amount of LP to unbond

  • CACAO Tx Value - 1

When can you add Bond?

When the node is standby, active or not churning, bond amounts can be increased/decreased.

Reward Shares

Operators and Providers all have a bond amount registered to the node. Operators can start at 0.00 bonded. This on-chain bond amount is summed to the total bond, and thus everyone has a fair share in the MAYANode's principle + Liquidity Pool & transaction fees.

The Operator Fee is distributed to the Node Operator address from all CACAO rewards earned by a node after each churn.

If an Operator LEAVES, all the bond is fairly distributed.

PreviousManagingNextAlerting

Last updated 1 year ago

Was this helpful?

πŸ–₯️