Create your account and participate in the Initial Masternode Offering (IMO) of your choice!
At Goldnode you can participate in an IMO (Initial Masternode Offering). Basically this is buying a share in a Masternode server. Goldnode will manage the setup and maintenance of the Masternode.
Here follows a 5 step explanation on how a IMO is initiated.
Goldnode does a quality check of the crypto/coin project. We are always looking for a long-term project that has a solid foundation regarding it’s proposition, roadmap, team and Masternode incentive.
When all of these things check out we will continue and setup the Initial Masternode Offering (IMO).
The coin selection process can be initiated by Goldnode or it can be based on community demand.
So now that we’ve got a coin selected we can move forward to setup an IMO. Setting up an IMO takes two things into consideration: the total funds required and the time limit in which the IMO should be completed.
Once everything is setup the IMO will be published on Goldnode.io.
Participants can now join in on the Masternodes by buying seats. One seat equals one percent in the Masternode (1% = 1 seat). When all the seats are taken the IMO is a success and the preparations of the Masternode begins.
What happens when we don’t gather the funds in time?
We either extend the time or dismantle the IMO. Dismantling means we pay every participant back their initial transfer of ETH (minus ETH network fee).
All the funds have been collected and now we go ahead and launch the Masternode. We will gather the hardware or setup the VPS server. The server will be optimized to run the blockchain and get rewards.
Now that the masternode is running we start to get rewards.
The rewards will be paid out weekly (fridays) in the Native coin and and distributed each month in ETH (read more about payouts).
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