Petale’s Vortex is a decentralized and scalable Proof-of-Authority blockchain designed as a compliant infrastructure for investors, asset managers and financial institutions to issue, trade and interact with tokenized assets on-chain.
Our approach with Petale Vortex is to create a global network of node validators that contribute to decentralizing the infrastructure and to build a next-generation infrastructure for tokenized real-world assets trading and management.
A node holds a copy of the registry of all Petale’s Vortex transactions and maintains it through its interactions with other nodes in the network, spread all over the globe. Each node is managed in a decentralized way and administered by different types of organizations from the public or private sector. The addition or deletion of nodes within Petale’s Vortex is done via a democratic and decentralized governance committee of compliant network validators.
The decentralized governance committee will be initially formed from a group of selected validators. Gradually, Petale Vortex seeks to grow the committee size to 100 node validators. As we continue to implement improvements and optimizations, the committee size may grow even bigger with time.
We are building a unique reward system for node validators to contribute to the realization of a decentralized issuance, trading, and settlement system for tokenized real-world assets. The incentivization program for Petale node validators is a model based on factors such as the average cost of a node, the annual XPTL performance and node validator bonus, the lock-up period, and the wish to participate in Petale’s Vortex governance.
As our objective is to build a strong and self-sustainable decentralized network for tokenized real-world assets, we will soon offer different plans for node validators to encourage long-term commitment towards achieving our vision. Rewards and governance rights will also depend on node validator’s commitment towards the long-term vision of a compliant and decentralized financial system.
Further information on Petale’s Vortex, XPTL security token and the platforms will be revealed in the upcoming white paper.
To become a candidate for a validator on Petale’s Vortex network, one will need to have a minimal stake of 50,000 XPTL, align with the hardware requirements, and contribute to the organizational, geographical and governance decentralization of the Vortex.
While all node validators will accrue rewards proportionally to their stake and their plan, not all of them will be responsible for validating blocks at a given time.
The minimal stake as well as hardware requirements might be subject to change, however, they will be infrequent and communicated well in advance. Eventually, the minimal stake will be decided upon by decentralized governance.
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The previous crypto-asset bull market has driven the total capitalization of the crypto-asset market to over $3 trillion in November 2021, according to Bloomberg.Learn more
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