Earlier, the Safe Haven network announced that they will be launching a new masternode program, which they call Safe Nodes, that resemble the nodes in the VeChain network. Additionally, they advised that a new governance model will be implemented along with the update.
What is a Safe Node?
The team behind Safe Haven have recognized that masternodes can be an integral part of any blockchain network when it comes to ensuring the stability of a large-scale economy. There will be rewards and privileges for masternode holders which will mostly vary depending on how long these holders have been dedicated to improving the network.
Safe Haven refers to the safe nodes as masternodes as there is no better way of wording it. The way it works is that you have to be a full node first in order to be a masternode, but in the Safe Haven network, you just need to hold funds, since you will not be a part of the consensus. That’s why comparisons to VeChain’s model are in place.
Safe Haven created a fee pool that will be controlled by the new governance model in the network. This pool will collect fees from all of their platforms and services and once a month will distribute its holdings to safe node holders. The distribution of the rewards so far looks similar to the way VeChain distribute their rewards. Depending on the amount of funds you have locked in your masternode address and the size of the pool holdings, the payout will differ. Here is the formula:
P = Total Pool amount generated by using the Safe Haven Platforms
W = Reward per Connect Node (1,000,000 SHA)
X = W * 2.66 reward per Harbor Node (2,500,000 SHA)
Y = W * 10.66 reward per Consensus Node (10,000,000 SHA)
Z = W * 19 reward per Legacy Node (30,000,000 SHA)
P = ((P * W)/CN) + ((P * X)/HN) + ((P * Y)/CS) + ((P * Z)/LN)
| Connect Node | Harbor Node | Consensus Node | Legacy Node | |
|---|---|---|---|---|
| Token possession | 1,000,000 SHA | 2,500,000 SHA | 10,000,000 SHA | 30,000,000 SHA |
| Maturity Period | 30 days | 45 days | 60 days | 90 days |
| Tiered Rewards | Silver status | Gold status | Platinum status | Diamond status |
| Immediately Available | 10 % discount on subscription fees using Safe Haven platform | 25 % discount on subscription fees using Safe Haven platform | 50 % discount on subscription fees using Safe Haven platform | No subscription fees using Safe Haven platforms |
| 3-Month Tier | Ongoing 3% rewards from the reward pool | Ongoing 8% rewards from the reward pool | Ongoing 32% rewards from the reward pool | Ongoing 57% rewards from the reward pool |
| 6-Month Tier | One-time Safe Haven sweater and sticker pack | One-time Safe Haven sweater and sticker pack | One-time Safe Haven sweater and sticker pack | One-time Safe Haven sweater and sticker pack |
| Ongoing Ambassador status and displayed logo | Ongoing Ambassador status and displayed logo | Ongoing Ambassador status and displayed logo | Ongoing Ambassador status and displayed logo | |
| Free SafeKey U2FA Fido | ||||
| 9-Month Tier | Ongoing VTHO sponsored by and under the discretion of the Safe Haven Company in the Solutions where Multi-Payment Protocol (MPP) is used | Ongoing VTHO sponsored by and under the discretion of the Safe Haven Company in the Solutions where Multi-Payment Protocol (MPP) is used | Ongoing VTHO sponsored by and under the discretion of the Safe Haven Company in the Solutions where Multi-Payment Protocol (MPP) is used | Ongoing VTHO sponsored by and under the discretion of the Safe Haven Company in the Solutions where Multi-Payment Protocol (MPP) is used |
| Ongoing priority access to Safe Haven events | Ongoing priority access to Safe Haven events | Free SafeKey U2FA Fido | Ongoing priority access to Safe Haven events | |
| Ongoing priority access to Safe Haven events | Eligible for the Safe Haven Government | |||
| Ongoing VIP access to Safe Haven events | ||||
| One-time SafeKey hardware ledger |
There is no set in stone date of the release of this update, but it is expected to be released relatively soon in the first quarter of 2019. In the beginning, everyone that has enough SHA in their nodes will automatically and instantly be recognized as a Safe Node and will be eligible for rewards. After a few days up to two weeks, all nodes will have to undergo a maturity period that will vary on the category of node it falls into depending on its funds.
Ambassador Program and Governance Model
The Safe Haven Ambassador program will give the community the ability to host events locally and to be approved by the network. Safe Haven will fully fund the event and provide the necessary marketing materials to the said Ambassador. More information regarding this will be revealed at a later stage.
The main idea of the governance model is to escape both the anarchy that can come with complete decentralization and totalitarian governance. The Government of the network will consist of founders, Legacy node holders, strategic advisors, and stakeholders. This resembles the VeChain method of governance, where the masternodes are included. More information is yet to come.