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Legal Documentation
Exira3 Layer2 Delegate Election
Introduction
Exira3 Network introduces a pioneering Layer2 solution, utilizing OP Stack technology to redefine Web3 data management and transactional efficiency. This solution is set to dramatically reduce costs and enhance the efficiency of the Web3 ecosystem. In preparation for the testnet launch, Exira3 Network announces the Delegate election for Nodes, offering opportunities for engagement, decision-making, and attractive mining rewards.
Becoming a Exira3 Network Layer2 Delegate
Role and Responsibilities
As a Delegate on Exira3 Network’s Layer2, you play a crucial role in the decentralized landscape. Delegates are responsible for staking Exira3 tokens, which allows them to influence the network’s direction, support its nodes, and ensure its operational security. This role is not only about network maintenance but also involves earning rewards and contributing significantly to a dynamic Web3 ecosystem.
Benefits
Influence on Network Development
Rewards
Annual Percentage
Central Role in Web3 Evolution
Advantages of Running PoS Delegates on Exira3 Network’s Layer2
Key Benefits:
Cost Efficiency & High Throughput
Benefit from reduced transaction fees and increased processing speeds, with further improvements anticipated in the 2024 Cancun upgrade.
Web3 Integration
Layer2 is designed to meet the growing demands of Web3, providing a robust foundation for data-centric applications.
Security & Rewards
Enhance network security and decentralization while receiving substantial rewards, fostering a healthy ecosystem and augmenting token value.
Becoming a Exira3 Network Layer2 Delegate: A Guide
Requirements and Eligibility
Open Invitation
Verification
Token Holding
Delegate Voting Rules
Delegates may set their own incentives, such as additional rewards, to attract and retain voters.
Delegate Reward Rules
Engagement and Decision-Making
Mining Rewards
Fixed Earnings
Top 3 Bonus
User Participation in Staking and Voting
Stake to Vote
Rewards for Duration
Lock-up Period
Impact of Your Vote
By becoming a delegate, you transition from a mere token holder to a key contributor, supporting network operations, governance, and security. This enhances the efficiency and resilience of the Layer2 solution, further solidifying your investment in the future of the Exira3 Network and the broader Web3 ecosystem.
Enhanced Reward Structure for Top Delegates
Gold Tier Rewards
Silver and Bronze Tier Rewards
Reward Distribution
Monthly Bonuses
Delegate Autonomy
Calculation Basis
Important Notes
Early Movers Advantage
Security Measures
Withdrawal
Frequently Asked Questions (FAQs) for Delegate
Q: What is the Exira3 Network Delegate Election?
A: It's an event where Exira3 token holders elect Delegates to secure and govern the Layer2 network.
Q: How can I become a Delegate?
A: Join the community, verify your identity, stake the required amount of $Exira3 tokens, and submit an application.
Q: What benefits do Delegates receive?
A: Delegates participate in decision-making, earn rewards based on their staking pool's performance, and receive additional bonuses for ranking among the top three nodes.
Q: How are rewards calculated?
A: Rewards are based on the number of votes, with fixed APR for nodes exceeding a vote threshold and additional bonuses for top-ranking nodes.
Q: How does voting and staking work?
A: Token holders stake $Exira3 to vote for Delegates, with each token equating to one vote. Staking duration affects reward distribution, and votes are locked for 3 days to ensure election integrity.