Home Blog The ADDIX-FOMO Validator Node
Jun 10, 2024
The ADDIX-FOMO Validator Node
It is my absolute delight to announce that after weeks of work, the ADDIX-FOMO Radix Validator Node, is live!
Validator Node, Addix, FOMO, $HIT

Hang on, did you say ADDIX-FOMO?!

You’re damn right I did!! For last couple of months, FOMO and Addix have been working closely together. Don Marco & Haseeb helped implement the Addix-fork of Timan’s superb Astrolescent Staking Contract onto the FOMO website. Not content with merely implementing, FOMO proceeded to add a novel Airdrop feature, which means anyone can airdrop tokens to FOMO holders, with no additional fees. In a little over a week, this airdrop feature has seen $1350 USD in value from 20 different tokens airdropped into the hands of the currently >75 FOMO stakers, and counting!

But most importantly, FOMO has built a project & community that champions everything we love about Radix; generosity, fun, utility and inclusion. Whether it’s helping to introduce heroes like The Machinist to Radix, or building and gifting a Free Buy-Bot that projects can add, FOMO at it’s core is about contributing to Radix - and we love this!

Ok, so you like FOMO, but why a validator?

Here we need to pay homage to two of the heavyweights in the Radix Culture Club; Hug and WOWO. The leadership of Zombie and Ward, and everything they’ve brought to radix with their teams, cannot be overstated. From community-building, welcoming newcomers and giveaways, to podcasts, parabolic charts and wider twitter attention, to video games, mobile dApps, Defi and last but not least, those epic, epic memes!

We’ve been super inspired by what they’ve done. Proof of Hug is a revelation, and WOWO validator ensures WOWO can keep accelerating the ecosystem. After careful consideration within our community, it was clear the desire for something similar within Addix was there.

Weeks of work - what did you do in that time?

Several factors needed to be considered. Firstly, running a validator is not something Haseeb or myself have done. There are very proficient node runners in the community who offered to do so for us, however after discussions with Don Marco, we ruled this out for three reasons. For starters, one entity running multiple nodes flies in the face of decentralisation. Secondly, the fees would detract from what we could put back into the project. Lastly, it’s just more fun to do it ourselves! A fundamental part of being in this space is to learn and get involved!

So for the last few weeks, Haseeb has been immersing himself in the very welcoming Node-Runner Community, doing our due-diligence on server type, specs, and how to actually run the thing! Meanwhile, I’ve been grateful for multiple node-runner and founder OGs who’ve advised on everything from tokenomics to how delegation will evolve with Xi’an.

Ok, so how will it work?

Discussions with FOMO made it clear that our vision and values align, and rather than compete for top 100 entry we decided to join forces!

Node-running will take place on the Addix side. Due to different tokenomics of the projects, incentives are asymmetrical. FOMO is almost completely diluted, which is awesome for holders, but creates limitations with ability to airdrop tokens. Addix is in a position to airdrop tokens to holders, similarly to Hug and WOWO. As such, the following arrangement is made:

  • The node will run with 100% fee
  • A total of 15% Addix tokens (150 B) will be airdropped to Node Delegators, over the course of four years, beginning upon entry into the Top 100
  • 2/3 of XRD generated will be used for Addix buybacks and liquidity
  • 1/3 of XRD generated will be used for FOMO buybacks
  • FOMO buybacks will be airdropped to FOMO stakers, through their component, with amounts dependent on what can be bought in the open market
  • As a sweetener, additional FOMO will be airdropped to delegators, upon successful entry into the top 100. Additional details regarding this coming thoon

You’re announcing now, but the Node has been live since 4th June…

Yes, well done you, you eagle-eyed Radix Network Staking scrolling-to-the-bottom, Not-Within-Top-100-Validator voyeur, you..

Why should I be excited?

This collaboration between two different projects, who are aligned with long-term participation within the radix platform, gives delegators the chance to receive airdrops from two distinct projects, each of whom are adding utility and value to the Radix Ecosystem.

The ADDIX-FOMO link-up is a natural continuation of an already established collaboration. It’ll also supercharge some of the things already in the pipeline…

We’re bloody excited about this partnership!


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