mirror of https://github.com/nucypher/nucypher.git
Initial modification of docs to reflect updated 7 day period length.
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@ -12,7 +12,7 @@ Service Fees (Pricing)
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Minimum fee rate
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----------------
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When stakers join the network, they specify a minimum fee rate, on a *per sharing policy* and *per 24h period* basis, that their worker (Ursula) will accept at the point of engagement with a network user (Alice). If Alice’s offered per period rate (contained alongside the sharing policy’s parameters in an ``Arrangement`` object) for a specified policy duration computes as equal to or greater than the minimum fee rate, the sharing policy will be accepted by Ursula and the access control service will commence. Ursula will service the sharing policy by being online and answering access requests, at that unchanging per period fee rate, until the specified expiration date or an early revocation is instigated by Alice.
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When stakers join the network, they specify a minimum fee rate, on a *per sharing policy* and *per period (7 days)* basis, that their worker (Ursula) will accept at the point of engagement with a network user (Alice). If Alice’s offered per period rate (contained alongside the sharing policy’s parameters in an ``Arrangement`` object) for a specified policy duration computes as equal to or greater than the minimum fee rate, the sharing policy will be accepted by Ursula and the access control service will commence. Ursula will service the sharing policy by being online and answering access requests, at that unchanging per period fee rate, until the specified expiration date or an early revocation is instigated by Alice.
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The minimum fee rate applies to each individual worker machine managing a given sharing policy. In other words, the rate is also *per Ursula*. If Alice wishes to employ multiple Ursulas to service a single sharing policy (``n`` > 1), a common configuration, then they must pay each staker associated with that policy the same fee rate. This rate will be the highest from the set of *minimum* fee rates specified by the stakers with which they engage. Alices may attempt price optimization strategies to find the cheapest group of Ursulas.
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@ -24,7 +24,7 @@ The minimum sum of fees a staker can receive period-to-period is the product of
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Global fee range
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The global fee range is a means of establishing quasi-universal pricing for the NuCypher service. It is enforced via the function ``feeRateRange`` in ``PolicyManager.sol``, which specifies per sharing policy and per 24h period constraints expressed in **WEI**. Note that elsewhere, fee rates are discussed in **GWEI** and fiat (USD).
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The global fee range is a means of establishing quasi-universal pricing for the NuCypher service. It is enforced via the function ``feeRateRange`` in ``PolicyManager.sol``, which specifies per sharing policy and per period (7 days) constraints expressed in **WEI**. Note that elsewhere, fee rates are discussed in **GWEI** and fiat (USD).
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The minimum fee rate chosen by stakers must fall within the global fee range. The network will launch with the following parameters:
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@ -3,7 +3,7 @@
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Sub-stakes
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==========
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A staker may extend the unlock period for any number of portions of their total stake. This divides the stake into smaller parts, each with a unique unlock date in the future. Stakers may also acquire and lock new tokens. The total stake is represented as the sum of all the different sub-stakes active in a given period (new period every 24h), which includes locked sub-stakes, and any sub-stakes that have passed their unlock date, and can be freely withdrawn.
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A staker may extend the unlock period for any number of portions of their total stake. This divides the stake into smaller parts, each with a unique unlock date in the future. Stakers may also acquire and lock new tokens. The total stake is represented as the sum of all the different sub-stakes active in a given period (new period every 7 days), which includes locked sub-stakes, and any sub-stakes that have passed their unlock date, and can be freely withdrawn.
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Each sub-stake has:
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@ -12,7 +12,7 @@ Staker Overview
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A nucypher staker is a holder of NU and manager of one or more stakes. NU is an ERC-20 token that underpins the network. Stakes are initiated by locking NU into
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the *"Staking Escrow "* contract for a fixed duration of time. Staked NU earns two income streams: inflation
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rewards (NU) and policy fees (ETH). Staked NU gradually unlocks with each completed period (24 hours),
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rewards (NU) and policy fees (ETH). Staked NU gradually unlocks with each completed period (7 days),
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depending on *re-stake* and *wind-down* configuration options.
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Active network participation (work) is delegated to a *Worker* node through *bonding*.
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@ -28,7 +28,7 @@ Worker Overview
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The Worker is the bonded delegate of a Staker and an active network node, performing work on behalf of a Staker.
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Workers must remain online to provide uninterrupted services on-demand, signalling their availability with
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commitment transactions every period (24 hours).
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commitment transactions every period (7 days) each transaction costing ~200k gas.
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Staker and Worker Delegation
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@ -92,7 +92,7 @@ workers can use, a software based wallet is the easiest.
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Before proceeding it is important to know that the worker must spend ETH to unlock staked NU.
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Periodic automated commitments are required to signal continued availability. Currently, Worker
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nodes must perform one commitment transaction every 24 hours each costing ~200k gas.
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nodes must perform one commitment transaction every 7 days each costing ~200k gas.
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Use the `--max-gas-price` option to set the maximum commitment gas price you are willing to spend.
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Workers will automatically retry and replace any previous commitment attempts. Too low of a gas price
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@ -34,8 +34,8 @@ Staking Procedure
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.. caution::
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Once NU is locked in the staking escrow contract, a worker node must be run to unlock it. Worker's make
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periodic automated commitments which spend ~200k gas each transaction. Be sure to consider this operational
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cost when locking NU.
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periodic automated commitments (every 7 days) which cost ~200k gas. Be sure to consider this
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operational cost when locking NU.
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.. note::
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@ -149,7 +149,7 @@ the commitment period.
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Before proceeding it is important to know that the worker must spend ETH to unlock staked NU.
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Once tokens are locked, the only way for them to become unlocked is by running a bonded Worker node.
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Currently, Worker nodes must perform one automated transaction every 24 hours costing ~200k gas.
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Currently, Worker nodes must perform one automated transaction every 7 days costing ~200k gas.
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.. code:: bash
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@ -246,7 +246,7 @@ bonded a Worker node to your Staker.
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After initiating a stake, the staker must delegate access to a work address through *bonding*.
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There is a 1:1 relationship between the roles: A Staker may have multiple substakes but only ever has one Worker at a time.
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.. important:: The Worker cannot be changed for a minimum of 2 periods (48 hours) once bonded.
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.. important:: The Worker cannot be changed for a minimum of 2 periods (14 days) once bonded.
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.. code:: bash
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@ -29,7 +29,7 @@ NuCypher currently has two testnets available, each of them with different goals
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Q: How long is a period?
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~~~~~~~~~~~~~~~~~~~~~~~~
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1 period is 24 hours. Periods begin at midnight UTC.
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1 period is 7 days, and periods start at midnight UTC.
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Using the Network
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