Wallet Information

To obtain your personal DFT Address, download your wallet at https://github.com/btcdraft/draftcoin/releases/tag/V1.0.0.4 and run the installer.

After that, your Wallet is ready to be used and receive its DFT!

We strongly advise encrypting your Wallet at Settings => Encrypt Wallet and set your own Pass Phrase there so only you can access the funds stored in the wallet. Save this Key in a safe place and make sure you do not lose it as any funds stored on the wallet cannot be accessed without it and will be lost!

To review your DFT Address, check out the “Receive” Tab on the left side, this will bring you to your Address management, where you can edit, add and delete your Addresses to receive funds.

After some DFT have been added to the wallet, all you need to do is keep it running and unlock it for staking, after 1-2 days the first PoS rewards should start coming in and can be reviewed on the Dashboard or in the Transactions Tab.

Staking:

1. Download the wallet from BTCDraft

2. Allow time for it to sync (might take an hour or more)

3. Move your dft from EXCHANGE to the BTCDraft wallet

4. Backup your BTCDraft wallet (dat file?)

5. Encrypt your wallet, during this process select to unlock your wallet for staking only.

Masternode Information

WHAT IS A MASTERNODE?

A masternode is a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, and is always up and running.

Masternodes are different in their function to normal nodes. They perform several other duties apart from keeping the full blockchain and relaying blocks/transactions as a full node does, such as increasing privacy of transactions, and instant transactions. These masternodes are not standalone but they are always communicating with other such nodes to make a decentralized network and are often referred in short form as MN.

MASTERNODE REQUIREMENTS

DraftCoin masternodes are required to have a minimum of (ten thousand) 10,000 DFT collateral, a dedicated IP address, and be able to run 24 hours a day with no more than a 1 hour connection loss. Masternodes are paid 10% apr dependant on network weight and all fees associated with block transactions and miners reward on every block. This is distributed to masternodes one at a time. Typically, around 5-7 DFT is paid to each masternode every ~1 day.

MASTERNODE INCOME

To set up and host a masternode it will cost money and a bit of effort. Masternodes are paid a miners fee as a reward to incentivize them. With current masternode numbers and rewards they will earn approximately a 12-15% return on 10,000 DraftCoins for the year of 2018. This reward increases in subsequent years as the network usage increases. As the value of DraftCoin rises, and the supply of DraftCoin moves downwards due to new masternodes starting, hosts will continue to be sufficiently incentivized. This projection includes 10% staking as well as fees that masternodes earn whenever someone uses its services, for example, sending a transaction.

HOST A MASTERNODE

The mining of 10,000 DraftCoins is out of the question since DraftCoin is a 75% premined coin and fully Proof Of Stake network. People argue the hardest part of obtaining such a quantity of DraftCoins is being able to purchase them all at the same price. DraftCoins can be obtained from exchanges such as Yobit.net, Coinexchange.io and Tradesatoshi.com. Would you like to see us on your favourite exchange? Drop us a line at [email protected]

You will need a server or a VPS installed with Linux or Windows. For the purposes of this guide we will be using Ubuntu 16.04 LTS. We recommend purchasing a cheap VPS through providers such as OVH and DigitalOcean, though any decent provider will do. Generally a low spec one will do. I use the 4 CAD ones from OVH and they work fine. You will also need a dedicated IP address. These will come with the VPS/server.

Here is a DraftCoin guide that will make the process a lot easier: Setup DraftCoin Masternode

If you don’t have time to set up and maintain your own masternode and don’t mind forking out a little extra, then you can go with paid masternode hosters which will greatly simplify the process.

A few good ones can be found below.

MASTERNODE HOSTING SERVICES

If you’re interested in setting up a Trustless Hosting service for DrafCoin, these services only provide the VPS Backend setups. The wallets and coins are held by you (Trustless).
If you’re interested in setting up Pooled Services and provide masternode accessibility to users with less than 10,000 DraftCoins (many users share 1 masternode) feel free to contact us [email protected]

P2P

Peer2Peer. Thanks to incentivization, DraftCoin’s network has grown to 50 masternodes since it’s launch in 2014. More masternodes means we will have more secure services, and more capacity for end-users to access Digital Cash from anywhere in the world, 24/7.

PROCESS OF REGISTERING A MASTERNODE

Obtain 10,000 DraftCoins(DFT) from an exchange, purchase a vps, install a wallet on the vps, email your masternodes wallet address and static IP address to [email protected] with this format

Name:
Contact Email:
Location:
Static IP address or DNS entry:
Primary Wallet address:

You agree that in order to remain in our masternode list, you must maintain a minimum of 10,000 DraftCoins(DFT) 24 hours a day in your registered masternode with no more than 1 hour downtime per day. If you are found to break these terms then your masternode will be removed from the masternode list.

There are a Limited number of masternodes available, if there are none left you must wait until a current masternode breaches contract and falls out of the list. You will then play in priority sequence.