Polkadex partners with OnFinality to offer one-click node deployment
OnFinality provides core infrastructure services for the future of Web3 and allows anybody to run reliable, scalable, and fast nodes. In the case of Polkadex, OnFinality lets future Polkadex validators focus on building out a community of nominators and maximizing their validator’s profits.
In fact, OnFinality makes running a Polkadex validator node so easy that users don’t need to worry about buying the necessary hardware, setting it up, or making tools to monitor it. The set-up is as simple as selecting the node’s configuration, entering your payment details, and clicking the ‘deploy’ button. After your node is deployed, you can monitor it from the easy-to-use visual dashboard.
We made a walk-through guide (embedded below) to highlight just how easy the process is for Polkadexers who may be interested in running their own validator node with OnFinality.
Why run a validator node?
Apart from the fact that OnFinality makes running a validator node easy as pie, there are many benefits to becoming a validator on Polkadex. Validators actively participate in the running of the Polkadex network. They form new blocks, validate transactions, and maintain network efficiency. Nominators (and validators themselves) stake their PDEX in the validators’ pools in order to secure the network. In return, they earn PDEX rewards. As of right now, the staking rewards on the network are around 93% per annum while most validators are earning an additional commission percentage (of their choosing) on top.
For more details on what it means to be a validator on the Polkadex network and why it may be appealing to do so with OnFinality, check out the article below:
Validators in the Polkadex network
Over a week after the successful Polkadex Mainnet launch, dive into the importance of validators on the Polkadex…
What makes the partnership between Polkadex and OnFinality so important?
The Polkadex network is public and open to anyone. Anything that makes it easier to actively participate in the network therefore makes Polkadex more distributed. That is a win for the Polkadex community and it’s a win for decentralization. When Polkadexers can start running validator nodes in a few clicks, the network as a whole benefits. OnFinality’s infrastructure solutions are designed to make that possible and have been doing so for dozens of Polkadot ecosystem networks, including Polkadot, Centrifuge, Kilt, and Kusama. We could not be more proud to add Polkadex to that list.
The Polkadex network continues to grow
3 weeks after its launch, the Polkadex network continues to grow. At the time there are 70 active validators, while over 40 nodes are waiting to make it into the active validator set. Over 600 nominators are staking their PDEX in validator pools and thus securing the network. Lastly, there are over 550,000 PDEX being staked right now, which equates to over $10 million USD according to CoinMarketCap at the time of writing. With OnFinality’s infrastructure support, the Polkadex network can only grow further.
Keep up with the growth of the Polkadex network as the Polkadex team launches different components of the project onto the Mainnet. Follow the journey with the official Polkadex accounts below!
OnFinality is a SaaS platform that provides infrastructure and developer tools that saves developers hours and allows you to grow with confidence. Our mission is to help blockchain and dApp developers build the decentralised future faster.