StrongBlock Flash Paper (2024)

StrongBlock.io

StrongBlock is the first and only blockchain-agnostic protocol to reward nodes for supporting the infrastructure of their blockchain.

Why incentivize nodes? With limited resources and no financial incentive, many nodes run out-of-date software, maintain incomplete blockchain histories , and are intermittently off-line. There is no easy mechanism to fix this problem once a blockchain is launched.

To solve this, StrongBlock has made it possible for anyone to create a node in seconds — or add their own node — and receive STRONG token rewards every day. More nodes equals more resilience.

At the time of writing, StrongBlock is rewarding over 1700 Ethereum 1.0 nodes, representing more than 15% of all Ethereum active nodes.

This paper provides details of how the protocol uses incentives and governance to prioritize the safety and sustainability of node rewards, compounding value for token holders by regularly reducing supply.

Currently, only Ethereum 1.0 Full Nodes are eligible for STRONG rewards. Ethereum 2.0, Bitcoin and other protocols will be eligible at a later date.

The StrongBlock team is composed of blockchain and enterprise software veterans including CEO David Moss, CTO Brian Abramson, and CPO Corey Lederer.

STRONG: A governance token, enabling decentralized protocol governance
Name: Strong
Symbol: STRONG
TYPE: ERC-20
Decimals: 18
Original Supply: 10,000,000
Burned: 9,472,218.9008 (increasing over time) STRONG Burn Address
New Max STRONG Supply: 528,886 (decreasing over time)
Total Community STRONG: 330,366 (62.46%)
Total Team and Shareholder Strong: 198,520.43 (37.54%)
Community Rewards Reserve: 196,459.58 Rewards Reserve Address
Circulating STRONG Supply: 144,907 (increasing and decreasing over time)
STRONG Contract Address: STRONG Contract Address
Protocol Smart Contracts: Ethereum Solidity, audited by Hacken
Deflation possible: Yes. The original minting contract did not provide for deflation. Tokens are sent to the STRONG Burn Address to permanently remove them from circulation

NFT Tokens: Non-fungible, Unique, Serialized, Bronze, Silver, Gold, and Platinum 3D tokens
TYPE: ERC-1155
NFT Use: Souvenir
NFT Supply: Each serialized NFT will have a limited supply
NFT Contract Address: NFT Contract Address

Rewards and Eligibility

The StrongBlock protocol is designed to provide an ongoing Node Universal Basic Income (NUBI). STRONG earned in this way is then used to govern the protocol. As the protocol matures, potential reward deficits can be addressed by the community via protocol governance in many ways.

Community measures to ensure ongoing node rewards may include: increasing community contributions per node; lowering NUBI; creating different NUBI classes; charging a renewal fee; burning STRONG for NFT’s; and other measures.

NUBI rewards calculations are based on many factors, including the number of nodes, node health, node revenue, token price, and NFT ownership; are variable; and are not guaranteed.

Node rewards are in STRONG and — in the future — NFT’s.

ERC-1155 NFT tokens are achieved under certain conditions to be determined.

Node Rewards

There are currently two methods to submit nodes for rewards eligibility. Rewards, fees and availability are subject to change over time. To get started, go to StrongBlock Nodes.

Nodes as a Service (NaaS)

Level of Effort: A few clicks and a few seconds
Adjusted based on many factors, not guaranteed
Claiming: Every block
Community Contribution: 10 STRONG
Monthly Fees: ~$14.95, based on many factors
Renewal Fees: TBD
Read more about NaaS

Bring your own Node (ByoN)

Level of Effort: Hours to days
NUBI Target: Adjusted based on many factors, not guaranteed
Claiming: Every block
Community Contribution: 10 STRONG
Monthly Fees: None in StrongBlock. (From $50 to $150 externally.)
Renewal Fees: TBD
Read more about ByoN

Distribution of Community Contribution

10% for future use (NOTE: 7,896 STRONG — 5.81% — of circulating supply was burned through 2/25/2021 since the NaaS protocol launched on December 3, 2020)
10% to STRONG-ETH and LINK-STRONG Pools for rewards
20% into the Strong Pool
60% into node rewards pool
Distribution subject to change over time

Pool Rewards

Pool rewards are provided to those supporting the protocol. You can participate by going to StrongBlock Mining.

Strong Pool: Mining of STRONG for STRONG rewards

UNI-V2 LP STRONG-ETH Pool: Mine with LP tokens for STRONG rewards

UNI-V2 LP LINK-STRONG Pool: Mine with LP tokens for STRONG rewards

Node Signaling Rewards

For each STRONG you have mined in the Strong Pool, you are allowed to Signal one node. Signaling indicates which nodes you wish to support. Both you and the node you are Signaling receive a small amount of STRONG for your participation. Your signal stays in place until you recall it.

Fees

The StrongBlock protocol generates revenue to be used for technical operations via Ethereum transaction fees. These small transaction fees are added throughout the protocol for activities such as mining, unmining, claiming, and registration.

Governance

A gradual path to decentralization has been determined to be the safest for all blockchain protocols. Holding STRONG will continue to allow governance referenda to be proposed, debated, and voted upon by the community, steadily moving towards decentralization over time. Governance proposals are in the form of Ethereum Smart Contract updates, and can be submitted on the website.

On the Roadmap

While some initiatives cannot be disclosed due to potential competitive risks, here are some upcoming initiatives.

Expansion of NaaS and ByoN to support Ethereum 2.0, Bitcoin, and other protocols
A Node Balancer providing services similar to Infura that will Increase rewards by monetizing nodes
Multiple nodes per wallet
NFT gamification and marketplace

Since launching its protocol, StrongBlock has dramatically reduced the total supply of STRONG, reduced daily inflation, achieved deflation, and added a fee-based Nodes as a Service (NaaS) offering, shifting the project into a model designed for long-term self-sustaining growth. This sets the stage for continued expansion of the protocol.

STRONG enables decentralized governance of its community DeFi protocol. STRONG is not a fundraising device or investment opportunity.

Learn more by visiting the StrongBlock website, Twitter, or Telegram.