Announcement: New Matrix AI Network gman Introduces Fixed and Flexible Staking!

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Source: https://medium.com/@matrixainetwork/announcement-new-matrix-ai-network-gman-introduces-fixed-and-flexible-staking-78cc6fc10394

What to expect from the June 25th Matrix AI Network Update, including patch notes and upgrade instructions.

Update 2019/06/22: The new stable gman files are available for download! To account for the delay, we have pushed the update back to Block 567,000. Please be sure to upgrade your gman files before Block 567,000! Thank you for your patience and support!

Update 2019/06/21: A small stability issue was discovered in the updated gman files. A new version will be available for download on 2019/06/22. Those of your who have already upgraded will need to do so again. Apologies for the inconvenience. This article will be update again once the new gman files are ready.

Following the successful deployment of the Matrix AI Network’s first major update in May, the Matrix team is happy to announce that a second major update is ready! It brings with it two major new features. They are: Fixed/Flexible Stakes and Verification Masternode Pools. This article will outline Fixed and Flexible Staking. A subsequent article will introduce Verification Masternode Pools.

Introducing Fixed and Flexible Staking

Once this update goes live, the Matrix AI Network will support two different stake types: Fixed Stakes and Flexible Stakes. Both have slightly different behaviors, rules and attributes.

Please note that you must first stake enough for a Masternode (10,000 MAN tokens for a Mining Masternode or 100,000 MAN tokens for a Verification Masternode) before the above rules apply. Additionally, you must always ensure that you have enough stake for a Masternode.

How to calculate stake rewards?

Stake rewards are distributed to every person with a stake every 3,600 blocks. Each individual’s stake rewards are calculated as follows:

1. First, everyone’s stake reward is calculated using the following formula:

Individual stake weight is determined as follows:

2. Second, penalties are applied. Penalties are calculated as follows:

Please note that the % of blocks when an individual is offline will not exceed 75%, even if the individual Masternode has been offline longer.

Other Notes and Updates

● You can combine fixed and flexible stakes.

● If you have a fixed stake, you must initiate unstake procedures prior to the end of your stake period or else it will be automatically renewed at the same lock-up period.

● When you unstake a fixed stake, you will not be able to transfer the funds to your personal wallet until your lockup time is expired. Your stake will still be valid for the duration of your lockup period.

● If you unstake a flexible stake, you must wait at least 7 days before being able to transfer the funds your personal wallet.

How do I perform the upgrade?

As of this writing, the new gman files for Mac and Windows are available for download on the official Matrix AI Network website. The Linux version is available on the official Matrix AI Network github.

Everyone must download the updated gman files as soon as possible to ensure the continued smooth operation of their Mining and Verification Masternodes.

Performing the upgrade requires just a few simple steps:

1. Shut down your node

2. On Windows, rename your original gman.exe file to gman old.exe. On Mac, rename your original gman UNIX executable to gman old

3. Download the new gman files

4. Move the new gman.exe file into your original gman folder. For mac users, do the same with your new gman UNIX executable

5. Delete gman old.exe or gman UNIX executable

6. Redeploy your node (Windows). MAC instructions are similar and can be found in the Matrix AI Network Node Deployment Guide

    • a. Open Notepad or another word processing software. Copy and paste the following string into a separate document and replace the highlighted section with your own Wallet B address. After doing so, ensure that the entirety is a single string of text. Copy it and paste it into the Command Prompt.
    • Please make sure to insert a space between manAddress and your Wallet B address.
    • gman — datadir chaindata — networkid 1 — debug — verbosity 3 — manAddress MAN.2sXxXxxXxXxxXxXxxxXxXxXxxxXjU — entrust entrust.json — gcmode archive — outputinfo 1 — syncmode full
    • b. Press Enter. You will be prompted to enter the password you just set up. As before, you will not be able to see your password as your write it. Do so. Press Enter. If you mistyped your password, you will receive an error message. Don’t worry. Simply follow the prompts until the “>” symbol appears.
    • c. After entering your password, you should receive a congratulatory message after a few seconds. Congratulations! Your node is set up!

Please note that the above steps assume you have already been running a Matrix AI Network Masternode using the previous gman files. If you are setting up a completely new node, please download and refer to the Matrix AI Network Node Deployment Guide.

After upgrading gman files, there is no need to restake. All you need to do is replace your existing gman.exe file with the new one, as demonstrated above, and redeploy. Please ensure that all files path remain the same to avoid issues.

Is there a deadline?

Everyone must download the updated gman files as soon as possible to ensure the continued operation of their Mining and Verification Masternodes. The new gman files are available for download from the official Matrix AI Network website and github as of this writing. The deadline to upgrade gman files and redeploy your Masternode is block 567,000.

Beginning at block 567,000, the Matrix AI Network will no longer interact with the old gman files. It is strongly recommended that you download and redeploy using the new gman files immediately. The new gman files are backwards compatible so upgrading early will not impact your nodes ability to perform mining and verification tasks prior to block 567,000.

What happens if I don’t upgrade?

Simply put, if you don’t upgrade gman files, your node will not be able to perform mining and verification tasks beginning with block 567,000. This also means that you will not be able to receive full block rewards.

What happens to my preexisting stake?

Existing stakes will be automatically converted to flexible stakes. You can switch flexible stakes to fixed stakes at any time should you wish to benefit from increased stake rewards.

If this Matrix’s final form?

Not at all! The Matrix AI Network will continue to monitor and improve. The next major update is scheduled for later in 2019.

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