🔑TONSquare Keys

Enabling and Regulating Node Operations

1. Introduction to the TONSquare Key

  • The TONSquare Key is a specialized non-fungible token (NFT) that serves as a mandatory license for operating a node within the TONSquare network. This NFT certifies a node's eligibility to submit claims and collect rewards, integrating critical functions into the network's framework.

2. Add-on access of the TONSquare Key

  • To obtain a TONSquare Key benefits, operators must add-on the NFT access by sending a specific amount of TON currency to a designated address. The cost of minting is dynamically determined based on a system of escalating thresholds, which adjusts in response to network demand and other economic factors.

3. Role in the Referee Contract

  • Verification of Node Pass ID: When a node wishes to participate in a challenge, it must first provide its Node Pass ID. The Referee contract, a crucial part of the network's governance protocol, verifies the legitimacy of this ID.

  • Ownership and Authorization Checks: The contract checks whether the node is the actual owner of the TONSquare Key or an authorized delegate. This step is essential to ensure that only legitimate and authorized participants submit assertions to challenges.

4. Claiming Rewards

  • KYC Verification: Before any rewards can be claimed, the Node Pass holder must complete Know Your Customer (KYC) verification, which ensures compliance with regulatory requirements.

  • Reward Criteria and Distribution: If the assertion meets the established criteria, the Referee contract authorizes the distribution of rewards. This ensures that only valid and verified contributions are rewarded, maintaining fairness and integrity within the network.

5. Key Holder Benefits

  • Bridge Fees: Key holders earn a portion of the fees generated from cross-chain transactions facilitated by the TONSquare bridge. This serves as an incentive for maintaining active participation in the network's operations.

  • Gas Sharing: Participants also receive a share of the gas fees collected on the network, further aligning their interests with the overall health and activity of the network.

  • TONSquare Tokens ($TOS): Additionally, key holders are periodically eligible to receive $TOS tokens through minting mechanisms, airdrops, enhancing their stake and involvement in the network's ongoing development.

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