This page assumes you understand the process and reasons behind Staking. If you do not, please first read our short guide here.
Before we begin...
What is a Masternode?
Think of a Masternode as a special type of MUE Staking Wallet.
Compared to a normal Staking Wallet, a Masternode will perform additional security checks and services to help keep the MUE network running smoothly. For example a Masternode may, host a copy of the blockchain, or relay certain messages in addition to validating transactions on the network.
Finally, a Masternode acts similar to a shareholder on the MUE network. Masternode owners may vote on proposals for improving the ecosystem.
As an owner of a Masternode you are unable to spend the 500,000 MUE assigned to the Masternode whilst it's running; however you can stop being a Masternode and instead use your MUE any time (should you wish to).
How are Masternodes rewarded?
As we learned in the Staking guide, every 40 seconds MonetaryUnit generates ('mints') 40 MUE. This is new MUE that didn't exist before.
This new MUE is divided up as follows:
18 MUE (45%) = Rewarded to those Staking
18 MUE (45%) = Rewarded to Masternodes
4 MUE (5%) = Issued to MonetaryUnit budgets.
As you'll see above, owners of Masternodes (which will be substantially fewer people than those staking, due to the requirements) have their own separate pool of rewards. In addition, each MasterNode counts as 1 vote in deciding where and how the MonetaryUnit budgets are spent.
For example: 10 people may put forward proposals as to services/tools they want to build which will benefit the MUE community. These projects may ask for financial support from MonetaryUnit, which could be paid for by the MonetaryUnit budgets (above). As a Masternode holder you will have a chance to decide which projects get the funding.
What do you need?
In order to stake you need:
A server set up to run a Masternode.
Alternative: If you would like to be involved in the Masternode process but are unable to obtain enough MUE, and/or do not wish to configure a server, you can instead buy MasterNode Shares. MN Shares are run by MyMue.com. Here a MasterNode is split into 50 shares. You can can buy a share for 10,000 MUE. You will automatically earn rewards from the Masternode based on your shareholding.
We have provided detailed guidance as to setting up a MasterNode. In addition we have partnered with MP Hosting to provide you with low-cost, high-quality servers suitable for running a MasterNode.
Calculator monthly income earned through Masternodes
Read more advanced features with MUE