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The “small” Masternode

A collateral of 5,000 DMS coins is required for a complete masternode. If you own less coins and do not want to buy more, you can now participate in a split masternode for 500 DMS.

There are comparable concepts for many coins, this is called “Shared Masternode Hosting”. The disadvantage is usually that you have to entrust your coins to the service provider, usually a third-party.

We now offer a Shared Masternode Service via our Discord Bot. Unlike with a hosting provider, the coins remain in the wallet of the owner. They only have to remain at the respective address, as with a normal masternode. As soon as the coins are spent or moved, the masternode service ends.

Instructions

See also YouTube tutorial by Crypto bRO.

  1. Create a new receiving address, see menu File | Receiving addresses. For example, name it “Shared MN1”.
  2. Send exactly 500 DMS to this new address.
  3. Switch to the Transactions tab page of your wallet and wait for 15 confirmations.
  4. Right-click on this “Payment to yourself” and select Copy transaction ID.
  5. Open our Discord channel #shared-mn. Type !shared-mn-add  and press Ctrl+V to paste the transaction ID from clipboard. Press Enter.
  6. You should lock the 500 DMS in your wallet so that they are not spent unintentionally. To do this, right-click on the input in Coin Control and select Lock permanently.

Functionality

As soon as the mentioned masternode receives a blockchain reward, you will get a share of it. This is paid to the same address where the 500 DMS were sent.

The system is therefore very similar to a complete masternode. You don’t need to worry about hosting on a server, but 10% will be deducted from your reward as hosting fee. So if you have 5,000 DMS, it is better to run your own full masternode. Especially since you cannot book an unlimited number of shared masternodes, currently it is limited to a maximum of seven shares per user.

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