Inspired by Bittensor network, the Neural Cluster contains a collection of 4096 Neurons. Their main purpose is to fund our Validator and to separate the holders from non-holders.
A thread 1/9👇
🌐firsttensor.com
$TAO #Bittensor
A thread 1/9👇
🌐firsttensor.com
$TAO #Bittensor
Each Neuron has the ability to bring a higher APR to their owner for life.
By owning a minimum of 3 Neurons, the owner is eligible to receive the maximum APR. This is similar to running a Validator on your own, without incurring the specific costs associated with running a node.
By owning a minimum of 3 Neurons, the owner is eligible to receive the maximum APR. This is similar to running a Validator on your own, without incurring the specific costs associated with running a node.
Furthermore, the Top 100 holders will have the opportunity to both receive 50% of the Validator's profits based on the number of Neurons they own and have access to our fine-tuned models (allowing them to mine TAO).
1. How is this even possible?
By participating into the consensus mechanism of the Bittensor network each Validator is eligible to earn rewards based on their total stake in the network.
By participating into the consensus mechanism of the Bittensor network each Validator is eligible to earn rewards based on their total stake in the network.
It is important to note that each Validator charges an 17.99% fee/tax/commission for running and maintaining the node. This fee applies to each delegator that stakes their TAO to a Validator.
In order to offer the maximum APR, Firsttensor will NOT apply these fees to the Neuron holders. They will be returned at the end of each month to each of our holders.
Meaning that our holders will have the base APR offered by any other Validator (that is currently ~34.9%) + the 17.99% fees that we will return to them.
This will boost their APR to a maximum value (currently ~42.5%).
This will boost their APR to a maximum value (currently ~42.5%).
Example:
If you stake 300 TAO, at the current APR of 42.5% the Validator will earn 127.5 TAO. The 17.99% service fee (22.9 TAO) will be retained by the Validator.
This means that the delegator will earn 104.7 TAO and the Validator will earn 22.9 TAO.
If you stake 300 TAO, at the current APR of 42.5% the Validator will earn 127.5 TAO. The 17.99% service fee (22.9 TAO) will be retained by the Validator.
This means that the delegator will earn 104.7 TAO and the Validator will earn 22.9 TAO.
With Firsttensor you can get your fees back (22.9 TAO) and this way your total amount generated will be 104.6 + 22.9 = 127.5 TAO
2. Is this APR going to last forever?
Each day 7200 TAO is coming into the network. We can assume that most of it will go into staking.
As more and more $TAO is delegated the APR will slowly decrease over time. This will be applied to all Validators, not only to Firsttensor.
Each day 7200 TAO is coming into the network. We can assume that most of it will go into staking.
As more and more $TAO is delegated the APR will slowly decrease over time. This will be applied to all Validators, not only to Firsttensor.
It doesn't matter what the APR percentage will be over time, as Firsttensor will always return the service fees back to their Neuron holders.
Since we return the service fees to our Neuron holders every month, our APR will always be the highest.
Since we return the service fees to our Neuron holders every month, our APR will always be the highest.
Ultimately, each member of our community will have the potential to earn an equivalent amount to that of a Validator.
3. What is your Validator UID?
As the costs & difficulty of entering the network increased over the last 2 months, we decided to invest into fine-tuned models and wait for Finney update in order to start our miners and Validator.
As the costs & difficulty of entering the network increased over the last 2 months, we decided to invest into fine-tuned models and wait for Finney update in order to start our miners and Validator.
4. When we will be able to stake our TAO to Firsttensor Validator?
As we are waiting for Finney new registration method to be available, our Neuron holders + non-Neuron holders will be able to stake their TAO to Firsttensor starting 3 April.
As we are waiting for Finney new registration method to be available, our Neuron holders + non-Neuron holders will be able to stake their TAO to Firsttensor starting 3 April.
5. What will Neuron holders do until then with their TAO? Where should they stake it?
As you are waiting for Firsttensor Validator, our recommendation is to stake your TAO to Bittensor Foundation Validator in order to receive TAO rewards.
As you are waiting for Firsttensor Validator, our recommendation is to stake your TAO to Bittensor Foundation Validator in order to receive TAO rewards.
After our Validator will be online, you will be able to unstake your TAO and stake it into Firsttensor Validator in order to receive the best APR possible.
6. What will happen to Neuron holders if Firsttensor Validator will not enter the Top 100 Validators?
Starting from Finney Update (20 March) we will have 120 days available to fund our Validator.
Starting from Finney Update (20 March) we will have 120 days available to fund our Validator.
If we will not manage to raise enough TAO in this period of time, all the TAO raised will be returned to our holders (minus the transaction fees).
So, there is no risk for our Neuron holders to lose their TAO.
So, there is no risk for our Neuron holders to lose their TAO.
Our objective is to build something sustainable that generates mutual benefits for Firsttensor and our Neuron holders.
7. Where is the smart-contract?
As Neurons are just an internal way to fund our Validator & separate the Neuron holders from non-Neuron holders there isn't a smart contract for them.
As Neurons are just an internal way to fund our Validator & separate the Neuron holders from non-Neuron holders there isn't a smart contract for them.
8. Are Neurons transferrable?
At the moment they aren't transferrable, buy they will be in the future as we are looking for the best way to do it (probably as tokens or NFTs).
At the moment they aren't transferrable, buy they will be in the future as we are looking for the best way to do it (probably as tokens or NFTs).
9. How to buy Neurons?
- Watch the video tutorial
- Visit our website firsttensor.com/buy
*Be sure to enter the transaction link in order to be able to verify your transaction!
- Watch the video tutorial
- Visit our website firsttensor.com/buy
*Be sure to enter the transaction link in order to be able to verify your transaction!
• • •
Missing some Tweet in this thread? You can try to
force a refresh
