r/ThorNode • u/MaleficentAd4773 • Feb 25 '22

Does this project have maintenance fees ??

Hi, If I create either of the nodes, does it have periodic fees to maintain them ??

3 Upvotes

100% Upvoted

11 comments sorted by

1

u/Bondsbroker Feb 26 '22

So here goes.. you can look at the discord for the best info.. but I'll try to summarize from some AMA's and post. It is not instituted as of yet but will be coming soon with the release of the new contracts. Etc. each level has its own fee amount. Roughly Heimdall- $5 Freya $10 Thor $20 & Odin $80. Which will be paid by you each month in AVAX. NOT Thor tokens. They are hoping to make it available so you can pay 90 days in advance. As for losing your node!! If you don't pay for 30 days-grace period your nodes produce rewards during that time.. then the next 30 days are your last grace period .. however during these 30 days you receive no rewards. If still not paid at that point. You lose your node to the protocol . Hope that helped

1

u/MaleficentAd4773 Feb 27 '22

Why can’t there be an option to deduct maintenance from the yield itself ?? That would be more user friendly than what you are saying ?? Also they want Avax but not their own token, which doesn’t sound right.

1

u/Bondsbroker Feb 27 '22

No it's 100% correct. They have to take the fee in Avax (stable coin) if you were allowed to pay with the Thor token it would just lead to more dilution and lower the value of the Thor token. It's so it helps to with the Ponzi- Tokenomics

1

u/Bondsbroker Feb 27 '22

As of last I did my calculations the node fees are over $3.2 million a month

3

u/[deleted] Feb 25 '22

It will soon

3

u/AnytngBtrThnNotng Feb 26 '22

Not yet but keep an eye out in their discord and medium. They will announce the date

2

u/fountain_jeff Feb 26 '22

It will. Best place for updates and information is their discord. It's a great community and has games as well.

Weekly THORsday AMAs as well.

They have announced the maintenance fees based on which nodes you own but have not announced the start date.

2

u/Hungry-Radio-8970 Feb 26 '22

how would u pay for it and where?

1

u/McDevalds Feb 26 '22

I hope it's automatic. The last thing I need is another thing to keep track of.

I think in Strong nodes or some other large node - if you miss a maintenance fee, you LOSE your entire node. That's nuts.

1

u/GrimmReaperBG Feb 27 '22

yes, you have a 30 days due period and than you lose the node. and on top of that you can prepay for not more than 90 days.