All blockchain communities that are decentralized have some sort of rewards system for people who help secure their network. In some systems like Bitcoin, these rewards are given to ‘miners’, a select subgroup of people who secure the Bitcoin network. In PIVX, anyone who has PIV can help secure the network and is able to receive rewards for their efforts!
As of today there are three distinct groups who all help out PIVX in different ways and are all receiving rewards for those efforts.
How to Get Rewards
PIVX operates using a Proof of Stake security mechanism which means that in order to help secure the network, you must prove you hold PIV. The first two methods below are two ways you can use your PIV to earn interest on what you already have. If you don’t have PIV, but you want to earn some, the third method allows your to earn by helping the community.
Method 1 – Running a Masternode
Running a Masternode, which requires 10,000 PIV.
(Note: Requires some technical know-how)
Method 2 – Stake Your PIV
Staking your PIVX, which has no required minimum, but requires you to keep your wallet active.
Method 3 – Helping Out
There are also opportunities available all the time to help out with community projects funded by PIVX. If you help these projects along, you become eligible to earn PIV for your time and work. These opportunities include development, marketing, customer support, and more. If you’d like to help out with these activities, please reach out to us on Discord or in the Forums.
How Much PIV is Created, and How is it Distributed?
Every 60 seconds, 6 PIV are created (Also sometimes called minting). These PIV are then automatically divided into three pieces. A fixed amount (1 PIV) goes into a pool that is used to fund the growth of PIVX. (Method 3) The Masternodes vote on which projects that amount should be spent on, and then the community members who proposed the project claim the PIV. The remainder (5 PIV) gets divided between the Masternodes and the Stakers. (Methods 1 & 2) The split between Masternodes and Stakers differs depending on whether or not the winning stake was PIV or zPIV (zPIV earning 3 a zPIV reward rather than 2 awarded to PIV stakes). This current distribution incentivizes zPIV staking to support the anonymity set size.
How Much PIV Should I Actually Expect to Make?
The reward system by design has a lot of randomness built into it. This is done for security purposes, but it can make calculations a bit tricky. With that said, a Masternode requires 10,000 PIV, and each Masternode should be getting a reward approximately every 1-2 days, but this may vary depending on the number of currently active masternodes. For staking, a very general rule of thumb is that for every 1,000 PIV (slightly over that in fact), you can expect a staking reward once every 30 days, but remember that this is a completely randomized process. You may go for 15 days without a reward and then get two in one day.
Staking your PIV, which has no required minimum, but requires you to keep your wallet active.
PIV staker finds block: 3 PIV to masternodes, 2 PIV to staker, 1 PIV budget
For up to date rewards please check out the PIVX Rewards Calculator.
Want More Information?
Please join our thriving Discord community and ask any question you would like! Get your invite at https://discordapp.com/invite/jzqVsJd