FAQs

This sounds similar to a Cardano stake pool ISPO. Is it?

In a way, yes. Stakers are forfeiting their staking reward in exchange for something else. While it is not exactly the same, as we are not issuing a token in its place, you are receiving a stake in an AirNode instead.

How do you pronounce “Amplifi”?

Amplifi is pronounced the same way as amplify, i.e. we aim to amplify the World Mobile network.

What is Amplifi’s staking fee?

The economics around running an EarthNode have not yet been established, however during the pre-mainnet staking period Amplifi will retain 5% of the total staking rewards to be used towards operating costs.

How much of the Community AirNode revenue will be distributed back to stakers?

At this stage we hope to distribute 90% of our Operator revenue (i.e. after the Host and WM fees are removed), however this may be adjusted once we get actual revenue numbers. All revenue information will be fully transparent, so everyone with a stake knows how returns are calculated.

Will Community AirNode returns be paid back to stakers in $WMT?

Yes, we will use AirNode revenue to buy $WMT to distribute to eligible stakers.

Will an NFT be used for the Community AirNode stake?

No, not at this stage.

We have considered this idea, but initially we will distribute returns based on the wallet address that staked to Amplifi. As each delegated wallet will have contributed a different amount of $WMT staking rewards to fund the AirNode, representing this as an NFT will add some complexity to their creation. We do plan to explore this further in the future.

How much of the AMP AirNode revenue will be shared with NFT holders?

The amount of Operator revenue from the AMP AirNode that will be shared with AMP NFT holders will vary based on the total amount of $WMT staked for each period, according to the following:

Less than 2 million $WMT - 10%

2 million to 5 million $WMT - 20%

5 million to 10 million $WMT - 35%

Greater than 10 million $WMT - 50%

We will commit to these numbers for at least 12 months from the time when NFTs are first issued. After 12 months we will reassess the financials around the AMP AirNode and adjust accordingly.

How many AMP NFTs will be available?

There is no limit to the number of AMP NFTs. Everyone who meets the eligibility, will receive one.

When does AMP NFT eligibility period end?

We haven’t set an end date yet for gaining eligibility to receive an AMP NFT. When it is decided we will give our community plenty of notice, so they still have time to meet the eligibility requirements.

If I stake more than 30,000 $WMT cumulative over 3 months (e.g. 60K, 90K, etc.), will I be eligible for more than 1 AMP NFT?

Yes. Given people can just split their $WMT over multiple wallets (to simulate being different people), we don’t think people should experience this inconvenience to access something they have earned.

How are user funds secured and staked? (Pre-mainnet)

For pre-mainnet, your staked WMT will be sent to Amplifi’s staking smart contract. The staking contract address will be registered in the World Mobile Vault, so that all WMT funds held by it will collectively earn staking rewards. These rewards will then be used to begin investing in Community AirNodes. We have used one of the standard smart contracts provided by the Aiken team for our staking app.

How are user funds secured and staked? (Mainnet)

For mainnet, the process will be to delegate directly to the EarthNode. This process isn’t known yet, as it is still being developed by the World Mobile team

How will the team access pre-mainnet staking rewards without being able to withdraw from the staking contract?

The primary address registered in the World Mobile Vault is a wallet address managed by the Amplifi team. The pre-mainnet staking smart contract address has been configured to use the same stake key as the primary address, so the World Mobile Vault attributes the $WMT in the smart contract to the same wallet. Rewards are paid to the primary address.

What happens if someone withdraws their $WMT and the staking balance drops below the snapshot balance?

To manage this scenario, we plan to deposit some of the team’s $WMT into the staking wallet after the snapshot has occurred. We will monitor withdrawals throughout the month and if withdrawals do occur we will top up the team wallet to maintain a buffer through to the end of the period.

Will stakers be able to receive airdrops associated with AyA or WM partners such as Minutes Network?

We are investigating with the WM team what process will be used to distribute tokens to $WMT holders, however in the event that airdrops are sent to the same address as $WMT we will work with the appropriate parties to ensure they can be distributed to stakers. If the airdropped tokens are sent to the primary staking address (registered in the WM Vault), then we will be able to distribute them accordingly based on each staker’s percentage contribution.