Incentivized RPC Pools: September Report
Incentivized Public RPC
Lava Foundation
Oct 24, 2024
We are working with Axelar to provide Incentivized Public RPC - serve RPC through Lava to get paid out of a pool of AXL worth $12k (at time of writing).
This partnership introduces a new paradigm for node runners and validators, turning RPC from an altruistic side-project to a business opportunity.
Read below to understand how ipRPC works, how to join Lava as an Axelar RPC provider, and how you can start getting paid to help scale web3.
📢 Onboard now! 📢
🤖 Join our discord for updates and support! 🤖
Lava has partnered with Axelar to offer Providers incentives for serving RPC. Axelar ipRPC aggregates large & small providers into a single, highly reliable endpoint with built-in quality of service and data accuracy mechanisms, powered by Lava protocol. Servicing RPC relays through Lava’s endpoint is incentivized by Axelar with a pool of $12000 worth of $AXL (at time of writing), based on the amount of service you provide, the quality of your responses, and other criteria set by the Axelar Foundation.
RPC providers joining the program are paid with AXL in return for their RPC responses, according to the volume and quality of their service!
đź’¸ Get paid AXL for RPC
🚀 Onboard in minutes
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🧠Gain insights into how to earn more
Follow these steps to onboard:
1. Create a Lava wallet
2. Set up a provider
3. Sign up to receive Lava testnet token
4. Join our Axelar channel on discord and get notified about receiving your tokens!
5. Stake testnet tokens on-chain to activate your provider
6. Stay active in discord for further updates &Â support
Lava's Provider Client automatically runs a series of verifications. In addition, we recommend that each provider verify they are running with the right configurations.
These are the minimal requirements you must meet the tech requirement & node configurations to participate in ipRPC:
At the conclusion of each month, Lava compiles a usage report and proposes incentive payments to Axelar based on processed requests and quality of service (QoS). Axelar retains the authority to adjust rewards per provider or the rewards pool, as well as the distribution timeline.
Following the ecosystem’s monthly reward distribution, each provider is required to claim their rewards from the distribution contract.
The reward distribution in the ipRPC campaign is divided into two key components: “Participation” and “Service.” Each component plays a crucial role in determining how providers are compensated for their contributions. Here’s how it works:
90% of the pool is distributed monthly based on the services provided by each participating provider. Providers may be eligible to claim rewards based on the following calculation:
Calculation: (Claimable CU / Total CU) * 90% of the monthly cap
Claimable CU refers to the Compute Units (CU) after accounting for Quality of Service (QoS) effects. This calculation specifically applies to services provided through the public endpoint or on-chain gateway subscription ID (accessed through the Gateway endpoint or lavasdk). The formula for Claimable CU is: (1 + Total QoS Score) * Requested CU / 2
The “Service” portion of the rewards emphasizes the quality and quantity of services offered by providers. It encourages providers to deliver reliable and high-performance services to the network, aligning their incentives with the goals of the campaign.
10% of the pool is dedicated monthly to the top 3 providers who have made contributions to help amplify Lava & Axelar. To qualify, providers create engaging Twitter content about Lava and Incentivized Public RPC for Axelar, and share it with the team. Lava will pick the top 3 content creators according to their quality, creativity, and engagement.
Participants of ipRPC are part of our Incubation program. They receive 101,000,000,000 uLava to stake as providers on Axelar Mainnet &Â Testnet (50,000,000,000uLava each) and to cover gas costs. Providers aren't allowed to stake more than 50,000,000,000uLava - crossing that limit will remove your payment eligibility for that month.
Lava is also onboarding Provider Partners to Axelar ipRPC. They are bespoke providers who have showcased their QoS, and are allowed to stake more testnet tokens in order to ensure users are getting the best service possible.
Terms of Service: https://www.lavanet.xyz/terms-of-service
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