Prepare for Launch! Register Your Interest in Running a Skybridge Metanode
Registration Form: https://forms.gle/uKDg3iNCW8XMXJTg9
Calling for Node Operators
Swingby is preparing for its first network launch next month, and the team is looking for dedicated node operators to help run Skybridge.
You don’t have to be an expert system admin to run your own node, but node operators should have a keen interest in server management and spend enough time in Discord to work with the community. There is also an expectation that you will use a reliable server host or cloud with dependable hardware and network access (e.g. AWS, DigitalOcean, Scaleway).
You will also be required to stake a significant amount of Swingby tokens in order to bond these to your node (see below).
To ensure a stable and phased launch of the network, we will only be accepting up to 30 submissions of the form for the first batch of applicants.
While we’ve tried to keep the Skybridge node software lean and light on resource usage, there is an expectation that your node will have sufficient storage, CPU speed and RAM to run the software. The suggested setup is an instance with at least 8 CPU cores, 16 GB RAM and 500 GB SSD storage.
Why would I want to run a Metanode?
The main incentive to run a Metanode is to earn a share of the fee emissions that it will receive on the live Skybridge network.
Each user that sends tokens through Skybridge will pay part of the amount in fees, and these are shared between 2 groups of participants:
- Bridge Metanodes (2/3 share)
- The liquidity providers that delegate their BTC and ERC20 tokens to the float pools (1/3 share)
This means that, due to network economics, a Metanode in the network will earn higher rewards as more value passes through the bridge.
How do I run a Metanode?
Firstly, you will need to set up an instance of the Skybridge daemon. This software will be communicating with connected blockchains and its setup depends on which coins/tokens the bridge connects.
For example, for the Chaos-MainNet Apollo1 bridge (BTC ⮂ Ethereum), you will need the following:
- The Skybridge Daemon.
- A Binance Chain node.
- An Ethereum node.
- An Ethereum Blockbook instance.
- A Bitcoin node.
- A Bitcoin Blockbook instance.
Since the Skybridge network is proof-of-stake, your node will require a certain amount of Swingby tokens bonded to it for other peers in the network to consider it as a Metanode. The exact amount required for this is currently under review and node operators that have filled out the above Google Form will receive further information closer to the launch.
To bond tokens to your node, simply time lock your tokens and specify the peer-to-peer key of your node in the memo field of your staking transaction.
We will be releasing some useful tools to help users with this process soon, and deployment will be made easy through a scripted step-by-step process for users.
What are the risks?
At the moment there are few risks when running a Metanode. The funds that you have bonded to your node will not incur any kind of slashing or performance based penalties during the initial launch period. If your node goes offline or fails to communicate with the other nodes, it will be excluded from receiving the rewards.
Running a live distributed system in production requires plenty of time, patience and understanding of the underlying infrastructure. Please only apply if you are serious about participating in the future of Swingby.
Reminder: To ensure a stable and phased launch of the network, we will only be accepting up to 30 submissions of the form for the first batch of applicants.