Follow these steps to register a supernode and prepare for election:
1. Migrate the Vite ERC20 tokens you wish to stake for your SBP.
In mid-November, migrate your ERC20 Vite tokens to the Vite TestNet via the smart contract provided by Vite.
2. Stake 500,000 VITE (this amount will increase to 1,000,000 VITE after the MainNet is launched). These tokens will be locked for 3 months, as required for SBPs.
3. Receive at least 200,000 votes (each vote is represented by one VITE). With each new community supernode that receives a minimum of 200,000 votes, Vite will stop one of its own official supernodes running. The community supernode will become the new supernode.
4. Run the server for the SBP (more detailed information will be released later)
1. Each VITE can only be used to vote for one SBP.
2. Each address can only be used to vote for one SBP. The number of votes from that address will equal the entire amount of VITE held in that address.
3. Voting from a given address does not lock up the VITE tokens stored at that address. These tokens may be transferred at any time, however, it would inherently affect the total number of votes going towards the supernode.
4. The user may change their unique address's voting target. The change will take effect within 75 seconds at most.
Rules for Creating Blocks
The first 100 supernodes will be responsible for creating blocks. For each round (lasting 75 seconds), the first 25 nodes have a 23/25 chance to create a block, and the last 75 nodes have a 2/75 chance. The block creation rate will affect the final rewards for the supernodes.