💬FAQ
Explore NodeK's FAQ to learn how to stake tokens, calculate rewards, and access machines. Understand eligibility, reward options, and tips to maximize earnings on the Homnifi platform.
Last updated
Explore NodeK's FAQ to learn how to stake tokens, calculate rewards, and access machines. Understand eligibility, reward options, and tips to maximize earnings on the Homnifi platform.
Last updated
NodeK is a platform where our community can earn rewards by staking LYK tokens and leveraging the minting power of their chosen plan/machine as token locked value. The platform operates on the principle of Token locked value + New token added = Rewards, allowing users to optimize their earnings through strategic token adding.
You can access NodeK directly from the Homnify platform under the Defi360 section. Simply navigate to this section to explore the features and functionalities available for staking LYK tokens and earning rewards.
To be eligible for NodeK rewards, you need to have purchased machines from Horys Mall and staked tokens within the NodeK platform. These steps are essential to activate your participation and start earning rewards based on your staked LYK tokens.
NodeK offers two options for producing rewards:
Auto Linking Off: Provides regular rewards that can be withdrawn directly by the user.
Auto Linking On: Optimizes rewards through Linking, where rewards are summed into the staked tokens. Users cannot withdraw rewards directly in this mode.
When Auto Linking is Off, rewards are calculated based on several factors:
Token locked value Calculation: Calculated based on the tokens staked and LYK token prices at the time of staking.
Staking Limit: Determines the maximum tokens a user can stake based on their chosen plan/machine and available Token locked value.
Reward Calculation: Daily calculations at 00:00 UTC consider factors like All Time High (ATH), Percentage Fall from ATH, Decrease Level Price (DLP), Production Decrease, and Minting Power to determine rewards.
When Auto Linking is On, rewards are summed into the staked tokens daily. The calculation includes:
Token locked value Calculation: Includes rewards received and tokens staked.
Reward Calculation: Similar to Auto Linking Off but with the added consideration of auto-link rewards into staked tokens at the prevailing LYK price.
You can purchase machines by visiting the NodeK landing page, clicking on the ‘Buy Now’ option associated with each machine, and completing the purchase process on Horys Mall. Your purchased machines will then be visible under the Machines section of NodeK.
To stake tokens, navigate to the Machines section, click on the ‘+ Stake’ option next to your purchased machine, select the token and amount to stake, review the details, and confirm your staking decision. Staked tokens contribute to your eligibility for earning rewards on NodeK.
Use the Reward Calculator function available on NodeK to estimate potential rewards. This tool allows you to input specific machine and staking details to calculate projected earnings based on your staked tokens and chosen plan/machine.