FAQ
What is Pacnode?
With the recent birth of $PAC and all the great things this community aims to represent, it comes as no surprise that many investors are eager to jump on-board. One feature of $PAC that has created a lot of buzz is their Masternode system. $PAC is #3 for the largest network on the list of all cryptocurrency payment networks. Growing at a rapid rate and receiving attention from many news outlets and investors, $PAC aims to be the #1 largest, secure payment network in the Cryptocurrency space. Masternodes provide many exciting benefits, but with a price tag of 500k $PAC each, a large number of investors stand to miss out due to insufficient funds. The Pacnode team has taken notice of this need and have created a solution for those who can’t afford a full Masternode.
Pacnode(.net) is a masternode sharing and support platform designed to enable investors with as little as 100 $PAC to join a shared masternode, and to take part in a community driven charitable cause. This is a worthy alternative for investors which will help $PAC to have a lasting impact on the community, and as an added bonus, to reward those who contribute to the network; whether you have a little or a lot to offer.
Our primary goal is to help those who would otherwise miss this opportunity due to financial constraints, by giving them the ability to reap the benefits of being part of the masternode system. Additionally, our shared masternode system will take full advantage of micro-investors, which will further enhance the network, reward more investors, and take additional coins out of circulation.
What is a masternode?
With the rebranding of Paccoin to $PAC, and the redemption of old paccoin to new $PAC, many new masternodes are being purchased and used in the new and improved $PAC network. So, what is the purpose of a masternode and how do they benefit the $PAC network and community?
Think of it as a community chest. A Masternode with the new $PAC will take a total of 500k $PAC coins to acquire. These coins would then be locked up and removed from circulation for the allotment of time indicated in the $PAC whitepapers. By locking those 500k $PAC, you help stabilize the coin value, enable services such as Instant$PAC for even faster transactions through the block-chain, and additionally, the masternodes are used to confirm the transactions people make in their everyday lives. For these services, those participating in the shared Masternode will receive a shared portion of the rewards given out to each Masternode from the $PAC network. The rewards will then be split according to the percentage invested by each member.
Why should I get a masternode/shared masternode?
Owning or being a part of a Masternode provides you with a variety of benefits. Through locking the coins you add to a Masternode, you help stabilize the coin value as they are no longer in circulation for the locked amount of time. Also, when transaction blocks are being completed by the whole Masternode network, Masternodes receive rewards which are split throughout all the Masternodes that are online. In a months’ time, or for more accuracy 720 hours, total rewards should amount in 7%-9% of your total amount staked. The fees people pay when sending PACs around (TX fee) are an additional reward.
How are the rewards for masternodes calculated?
Using this equation: ROI = ((N/T)xRxBxAx365) / 500,000
T is the total number of Masternodes on the network
R is the current block reward
B is the number of blocks in an average day
A is the average Masternode payment (93% of the block-chain reward)
Is there a possibility to track my pay-in amount?
A fully featured dashboard is now available. For security reasons, we will generate the accounts for each investor. Once the investor sends Drew a direct message on Discord (Drew#9463) showing proof of transaction with the TXID to verify, we will give them their own username and password. This will be used to track your current winnings, stake rewards, all-time rewards, and view your staked time.
How do I know that this is a trusted and secure service?
We have already amassed a large community, mainly on Discord, where everyone has recognized that this is an unassociated trusted service provided by volunteer members and supported by a wide range of $PAC community members. In addition, Drew is an advisor on the official $PAC team, which further ensures that we have a solid backing.
For more information on this subject please reach out through discord, at @Drew#9463
How do I know that my coins are safe?
Our IT infrastructure provides a high level of security through the use of temporary software, future hardware firewalls provided by Hetzner (a high-end service provider), high-end machines and 1GBps bandwith uplink. Should the website become compromised(API), there would be no possibility to obtain any personal or identifying information as there are middleman servers securing the information about the actual masternode servers. Also, cloud/hardware snapshots and wallet/privkey backups are completed on a daily basis.
Do I need to purchase a minimum amount of $PAC to join the shared masternode?
Yes, an amount of at least 100 $PAC is required to be a part of the shared Masternode system.
When can I withdraw?
You can withdraw your rewards at any time using the dashboard. Withdrawing Collateral Coins can be done at any time but MUST be requested directly through @Drew#9463 on the Pacnode Discord.
When can I reinvest my rewards?
The dashboard has a reinvest button that allows all Pacnode users the ability to reinvest their rewards into the next filling Masternode without having to send the coins to their wallet first and then back to the address you were originally provided. This helps ensure a quick easy transfer of coins to your Pacnode account and without the added hassle. This button is active on the 15th and last day of every month to allow accumulation of coins before you reinvest.
Fixed fees for Masternode Rewards
When Pacnode.net distributes the rewards received by the Masternode each investor will be charged a fee that is a percentage of the MNs rewards that is equivalent to no more then $6.25 USD per month and no less then $5.00 USD per month for the entire node per month. The fee is set at the beginning of every month reliant on the stability of price.. This fee goes to pacnode.net and it’s volunteers to help further development of Pacnode.net, and to help compensate our Pacnode team.
These fees are greatly appreciated. They will then be used to compensate the volunteers that take time to make shared Masternodes possible within Pacnode.net This helps expand Pacnode.net and enhances everyone’s experience with our services.
Community Charity Pool
5% of the donations gathered from investors will go to a thread entitled Community Charity Pool.
Once the PacLyfe platform is launched, the funds in the Community Charity Pool will then be voted on (Periodically), by the investors to see what project on the PacLyfe platform we will donate the $PAC to. This is the great value that the $PAC coin and the community bring to our lives.
That sounds awesome! How can I join?
Message @Drew#9463 on the Pacnode Discord
Once a user decides to use Pacnode $PAC MN services, an address will be provided for them to send the $PAC to the MN pool. Once a 500k MN is full and live on the $PAC network they will receive a USER ID and a password that they can use to monitor their earnings and see their MNs status.
We pride ourselves on offering you timely responses and support throughout the set-up process, as well as a high level of continued support after the shared Masternodes are up and running. Our line of communications for needed support is the Pacnode Discord Channel
Terms and Conditions
Pacnode is a 3rd Party platform for hosting single owner and shared Masternodes. Pacnode is not responsible for exchange wallet failures or delays; we always recommend using an official $PAC wallet that is properly secured on each investor’s personal PC or laptop.
Pacnode is not responsible for hacking attacks or DDoS attacks on our website or masternode servers. We take all the precautions necessary to avoid these scenarios, but in the event they would occur, Pacnode is not liable.
Fractional portions of $PAC will be disregarded if received on investments and any fractional rewards of $PAC during the monthly payouts may go to Pacnode.
It is clearly stated to each investor that if they want to withdraw their Collateral coins they can at any time with a 24 courtesy time slot added to give the Pacnode team time to fill the MN you are leaving. Also, Since rewards are self-withdrawable, If a Pacnode user does not stay with Pacnode for a full month’s time (30 days) the rewards the received and withdrew will be deducted from their initial collateral. This is to avoid constant withdraws after taking advantage of a shared Masternode system.