Questions about setting up a validator node

Secret Nodes
1

Hello, I’d like to set up a validator for the secret network, and I’m doing the initial investigation. However, I have some questions. Maybe someone here could help me.

  1. In the docs it says that there is a top limit of 50 validators, but in mintscan it says 80/182. So I guess the current maximum is 182. Is this correct?

  2. I’d like to calculate the ROI of the server. I’ve found this calculator but I don’t understand everything. For example, I don’t see the fees in that formula, nor the volume of TXs. I think the validator gets the income from the fees, isn’t this correct? Where could I find more information about this? I need to have a precise idea of the numbers before investing in the server.

  3. Related to the previous point, Where can I see the total fees of the network per day/month? I didn’t find it in mintscan.

  4. If I need to “convince” people to use my validator, how should I do it? Any document about this? I guess I’d need a web and show some real-time data about the validator. Also, creating value inside the community is something that would help, and I’m willing to do it. Any other recommendations?

Thanks a lot for your help!

2

1: Current limit is 80.

2: Fees are a minor factor in validator return, the majority (98% range) comes from commissions. Assuming a setup that will cost you about $200 a month and a commission rate of 5%. You will need at least ~130k SCRT delegated to your node at current market price ($1.70 per SCRT)

3: check secretnodes.com but again, fees don’t play much of a role in this calculation

4: There are public resources available to see validator uptime, like mintscan and Ping Wallet. The most notable to attract people is to be active in the community, help others, take up a position in the ecosystem, or build applications and tools.

1 Like
3

Thanks Stefan!

So no way I can set up a validator now. 130k SCRT is way too much for me. I’d need to grow in the community first.