Section C: NFT Needed to Host a Node

This section outlines the requirements and significance of owning a Non-Fungible Token (NFT) for hosting and participating in the L1X blockchain network as a node operator.

What is Right to Node NFT?

“Right to Node” allows you to sell, lease or self-host “One” Event Listener or Full Validator Nodes. It allows you to Solo stake minimum L1X Coins to become a L1X Node or it allows you to lead Smart Contracts that live on the Protocol where the users can stake directly into the protocol.

Can I sell my NFT?

Yes. You can sell your NFT to an L1X Account.

Can I lease my NFT?

Yes. You can lease your NFT on a predefined %commission and t (timeline) to an address (account). This smart contract will be in between your account and the address you want to lease your NFT.

How do I get rewarded if I lease my NFT?

You can set a predefined % of commission you would like to receive from the rewards that the Node will earn in a contract.

Can I withdraw at any time?

No. You can only withdraw based on predefined conditions in between your address and the other address.

How long will this NFT be valid?

There is no end date on the Validity.

How many NFTs will be issued out?

There will only be 1000 NFTs for Event Listener and Full Validator Nodes each available until Jan 2024. Total of 2000 NFTs.

How do I get access to this NFT?

Once you have acquired the minimum number of L1X Coins in the public sale which is 50,000 for Full Validator Nodes and 10,000 for Event Listener Nodes; you will be able to lock your L1X Coins which will give you the right to host the NFT.

Do I get L1X Coins + NFT if I purchase the required amount of Coins in the L1X Public Sale to run a Node?

To unlock the NFT you will need to lock your L1X Coins from the public sale to then be used when the Node hosting begins.