Community Based Pooled Wallets For Hosting Stake

[hashratez]

https://staking.ethofs.com is an amazing platform that allows people with extra ETHO to lend to those whom want to run nodes but do not have the capital to invest.

As ETHO grows in price the money required to stake a node increase making more and more difficult for people to come up with the required funds. Yet, to lower the staking deposits would require a retooling of the entire node setup. It would require development time to update the code and people restaking the nodes which could jeopardize the network stability.

Thus a simple solution would be to allow Community Members to pool funds and create staking wallets. Using some concepts that are very popular in the DeFi space here is the basic ouline:

1. Anyone could create a Community Wallet. The wallet could be named to make it fun. For example "Jimmy's ETHO Rocket Gateway Wallet" etc.
2. The creator of the wallet could set a minimum deposit amount to participate. Do to transaction fees, you would not want too many people in the wallet, but at the same time setting a minimum deposit/contribution too high might limit participation. 500 ETHO seem like a good number for a GN, 250 ETHO for MN, and 100 ETHO for SN. Just suggestions.
3. The wallet creator would determine the split (like wallet owners do now) for the ETHO lender -- in this case the Pooled Wallet and the Node Operator. Splits range from 1/99 to 50/50. Same goes for the ETHO penalty if a node operator does not deploy the node after claiming the stake. If a node operator defaults the penalty would be refunded prorata to the wallet members.
4. Wallets will be placed into a "wallet marketplace" where others can review and decide what wallet to join.
5. Then when the wallet reaches the 5000/15000/30000 level (set during setup) it can/will be placed into staking.ethofs.com for a node operator to pick up.
6. Unlike the current setup a very important difference is each pooled wallet would have an expiration date/time period. 90/120/180/360 days. When a Community Member joins the wallet you are locked in for that period of time. Upon expiration the initial funds would automatically be return.
7. Same would go for wallet creation. There needs to be a set time period for something to happen. 10 days to fund and 10 days to deploy for example. If a pooled wallet does not reach its funding limit for the desired node for if a Node Operator does not borrow the funds would be refunded. The wallet cannot tie up people ETHO in limbo forever.
8. To avoid Wallet Spamming (creating dozens of useless wallet combinations that do not get community backing) there should be a "wallet setup fee" that will be refunded + interest at the end. For example there is a 100 ETHO wallet setup fee. If the wallet does not get funded or deployed the fee is refunded. If the wallet gets funded and deployed there is a 10% bonus paid back to the creator at the end of the contract, 110 ETHO. The extra 10 ETHO would be accumulated out of the rewards paid to the community wallet. The idea here is to keep too many spam wallets from being created, not to make money as a full time wallet creator.

This setup allows for interesting dynamics. You could have 360 day SN or 30 day GN wallets, any combination you like. Like short term and long term bonds. People can chose how long they want their ETHO in the wallet. Node operators know exactly how long they need to run the node with that wallet before it expires, providing them a known timeframe.

Post your comments/ideas/improvements.

[hashratez]

After the Version 1 of the Pooled Wallet is battle tested and in production something we could add that would be very very cool would be "Wallet Purpose":

1. Charity Wallets: A Pooled Wallet could be created and 10%* of the node rewards would be given to a Charity. This would be amazing... *The Wallet creator could set the donation rate and charity.
2. Funding Wallets: You have an idea that you want funded? Use ETHO rewards to do so. Someone could create a "GoFundMe" Wallet for you or your idea.
3. Dev Fund Wallet: A wallet creator could take 10% of the rewards and kick it back into the ETHO Project for example.

[Crypto-Saiyan]

I love it,everything looks good,nothing to add at this point.

Lots of people that have less then 5,000 ETHO will participate & that is what we want.