Swan Chain Computing Provider (CP) UBI-0 Plus
As we transition into the next phase of the Swan Chain CP UBI Program, CP UBI-0 Plus, we are introducing updates that preserve the benefits of early participation while realigning the program with its long-term objectives. This phase begins on November 29, 2024, and will continue until the Token Generation Event (TGE).
Key Highlights of CP UBI-0 Plus
- Duration: November 30, 2024, at 00:00 (EST), to TGE.
- Daily UBI Rewards: Fixed at 55,462 SWANU/day (same as the final UBI-0 daily amount).
- Key Benefits: Previous airdropped collateral remains intact, providing CPs with a head start in earning potential.
Let’s dive into the changes and how they impact your participation and earnings.
1. Collateral Returns to Standard Levels
Starting in CP UBI-0 Plus, the collateral requirement for Computing Providers (CPs) will revert to its standard level, as outlined in the “Collateral Requirement Per Card (in $SWAN)” column in “Collateral Requirement and Earning Multiplier”.
- Collateral Level: Returning to 100% of the original collateral requirement
- Previous 1/10 Collateral Model(UBI-0 Phase): Discontinued
- Standard Collateral: Full collateral is now mandatory for maximum rewards
2. Previous Airdropped Collateral Remains Intact
To reward early participants, the SWANU tokens airdropped as collateral during CP UBI-0 will not be slashed. These tokens remain in your account and can serve as partial collateral in CP UBI-0 Plus.
Why This Matters
The previously airdropped SWANU tokens provide a unique opportunity to maintain and potentially maximize your earnings without additional financial burden. However, your earnings are directly tied to the percentage of collateral staked.
With only 1/10 of the required collateral, your earnings will be proportionally lower.
3. UBI Distribution Formula: Earnings Linked to Collateral
UBI rewards are calculated based on task performance and the amount of collateral staked:
Actual UBI = Total Potential UBI × Sampling Task Success Rate × Collateral Percentage
Key points:
- Full Collateral (100%) unlocks maximum UBI potential.
- UBI rewards scale with sampling task performance.
- Partial collaterals yield proportional rewards.
Example Calculation:
If you have a CP with the H100 model, you could potentially earn around 5,000 SWANU per day. If you’re assigned 100 tasks, complete 90 of them (achieving a 90% success rate):
Scenario 1: Using Airdropped Collateral (1/10 of Requirement)
- Collateral staked: 10% of required amount
- Earnings = 5,000 × 90% × 10% = 450 SWANU.
Scenario 2: Fully Staking Collateral (100% of Requirement)
- Collateral staked: 100% of required amount
- Earnings = 5,000 × 90% × 100% = 4,500 SWANU
These examples illustrate how increasing your collateral stake directly boosts your rewards.
Note: For Application Rewards: During the UBI-0 Plus phase, Computing Providers must stake at least 15% of the total collateral requirement to receive and earn AI tasks and application rewards. After the Token Generation Event (TGE), the requirement will return to full collateral staking.
4. How to Add Collateral for Increased Earnings
If you want to maximize your earnings, you’ll need to stake additional SWANU tokens.
For Fog Computing Provider (FCP):
- Update to the latest version of the CP code
- Ensure your wallet has sufficient funds
- Execute the following command:
computing-provider collateral add --from=<YOUR_WALLET_ADDRESS> --account=<YOUR_CP_ACCOUNT> --fcp <Amount>For Edge Computing Provider (ECP):
- Update to the latest version of the CP code
- Ensure your wallet has sufficient funds
- Execute the following command:
computing-provider collateral add --from=<YOUR_WALLET_ADDRESS> --account=<YOUR_CP_ACCOUNT> --ecp <Amount>Verifying Collateral: After completing the collateral addition, you can check the details using the command:
computing-provider infoNote: The slash mechanism remains disabled during CP UBI-0 Plus. This ensures participants can earn rewards without penalties for task failures or incompletions. The slash mechanism will be introduced post-TGE, and detailed guidelines will be shared in future roadmap updates.
5. Pre- and Post-TGE Token Economics
Pre-TGE:
- Daily UBI distribution is fixed at 55,462 SWANU/day.
- SWANU tokens earned can be used for collateral or traded on DEX platforms.
Post-TGE:
- The formal UBI model will be activated with parameter x=1. Detailed information can be found here.
- 1:1 Token Swap: SWANU tokens can be exchanged for SWAN tokens.
About Swan Chain
Swan Chain, initiated in 2021, is a full toolset AI blockchain infrastructure accelerating AI adoption. Utilizing OP Stack’s Ethereum Layer 2 technology, it pioneers in merging Web3 with AI by providing comprehensive solutions across storage, computing, bandwidth, and payments. By tapping into underutilized computing power across a network of community data centers, its integration facilitates a significant reduction in computing costs by up to 70% while enabling the monetization of dormant computing assets. Through innovative marketplaces for decentralized storage, AI, and Zero-Knowledge proofs, alongside the efficiency of LagrangeDAO for AI model deployment, SwanChain makes AI development seamless and affordable.
Investors
Binance Labs, Protocol Labs, Waterdrip Capital, Chainlink Labs, Outlier Ventures, SNZ Holdings and more.
Partners
Nvidia, Google Web3 Startup Program, Microsoft Startup Program, Chainlink BUILD, Filecoin Orbit.
Website: https://www.swanchain.io
Twitter: https://twitter.com/swan_chain
Telegram: https://t.me/swan_chain/
Discord: https://discord.gg/swanchain
