1. Introduction

Roxe Chain Foundation, creator of Roxe Chain, provides infrastructure to enable application providers to create next-generation payment services to global citizens — faster, cheaper, and more reliably. One such application is Roxe Inc.’s global instant settlement network that facilitates instant value transfer with an infrastructure that supports the free movement of value globally, enabling the world to exchange value as easily as it exchanges information. Together with our partners, we connect scattered assets, markets and systems around the world and eliminate friction built into the financial institutions’ systems. 

The Roxe Chain Foundation is the owner and operator of the Roxe Chain, which is a hybrid chain built for value exchange that enables payment settlement.   For more information about the Roxe Chain, please refer to the roxe.io website.  

Twenty-one Roxe supernodes will govern and maintain the Roxe Chain. These supernodes will provide computing power to ensure efficient operations for the entire Roxe Chain network. 

Roxe Supernodes are highly connected nodes in our blockchain network. In general they are permanently “switched on,” running the Roxe Chain blockchain software 24/7 – this makes them a reliable point of contact for other nodes to join or rejoin the network. They also use considerably more processing power than other nodes, as they make connections and transfer information to other network members.

The purpose of the Roxe Supernode Partner Program is to provide a process for the recruitment of the initial set of partners that will operate Roxe Supernodes from 1/1/2021 through 12/31/2021.  

The rest of this overview document describes:

  • Benefits of becoming a Supernode
  • Requirements for Supernodes
  • Qualifications for Supernodes
  • Supernode Partner Program Timeline
  • How to Apply to Become a Roxe Supernode 

2. Supernode Benefits

The Roxe Chain Foundation will earn revenues from the use of the Roxe Chain, by entities using the Roxe Chain to send value nearly instantly.  

The main benefit for an institution to become a Roxe supernode is a financial incentive.  Roxe supernodes will earn 1% of the total revenue that the Roxe Chain Foundation receives from entities using the Roxe Chain to send value.  

The 1% revenue share will be paid out to each of the Roxe supernode organizations by the Roxe Chain Foundation on a monthly basis.

In addition to the 1% revenue share, other benefits of being a Roxe supernode includes:

  • Opportunity to play an active role in the governance of the Roxe Chain.
  • Recognition for being one of the leaders in the blockchain / cryptocurrency ecosystem, especially in the areas of global instant settlement and cross-border payments.

3. Supernode Requirements

Roxe Chain uses real-time on-chain clearing, with Roxe supernodes completing the corresponding out-blocking, bookkeeping, and recording the account book of each node in real time.  Specifically, Roxe supernodes will provide on-chain service to ensure block production and normal operation.

Technical Requirements

There are two hosting options for organizations that wish to become a supernode: self-hosted and cloud service-hosted.

Running a Self-Hosted Supernode

Self-hosted Supernodes are hosted in data centers run and managed directly by the organizations in the Roxe Supernode Partner Program.

  • Hardware requirements for running a self-hosted supernode: 
    • Server configuration: 16 cores, 32 GB RAM, 400 GB SSD
  • Dedicated high-speed internet connection with redundancy:
    • 100 Mbps or higher
  • Operating system: Ubuntu 18 or CentOS 7 or above 

Running a Cloud Service Supernode

For organizations in the Roxe Supernode Partner Program that would like to run a Roxe supernode via a cloud service provider, Roxe Chain Foundation will provide tools and documentation in order to facilitate deployment.  For cloud resources recommendations, the hardware and internet connection requirements are the same as running a self-hosted supernode.

Other Technical Requirements

  • Follow the Roxe Protocol regulations
  • Conduct periodic joint reviews with the Roxe Chain Foundation on server safety management
  • Comprehensive testing before connection with the Roxe Chain
  • Perform any necessary server software updates or server hardware upgrades
  • Implement any necessary future protocols, policies or procedures adopted by the Roxe Chain Foundation to ensure the operations and security of the Roxe Chain 
  • Have strong blockchain or IT infrastructure
  • Optional, but not required:  Experience storing cryptocurrency assets in secure facilities

Downgrading of a Roxe Supernode

If a Roxe supernode’s performance is impaired for 24 hours, it will be downgraded to a regular Roxe node.  

Upgrading of Roxe Candidate Nodes to Supernodes

Candidate nodes are nodes that are upgraded to a Roxe supernode when an existing supernode cannot operate normally and is downgraded. 

4. Supernode Qualifications

Roxe supernodes can be operated by leading financial services, fintech, tech, and government organizations (central banks), from different geographic locations around the world. 

Organizations that are good Roxe supernode prospects include:

  • National or central banks
  • Commercial banks
  • Payment companies
  • Brokerage companies and securities clearing houses
  • Custodian companies
  • Consulting companies with strong financial services practice
  • Well established and reputable fintech or tech companies

We invite all central banks globally to apply to become a Roxe supernode.  For non-central banks, organizations that meet many of the following criteria are invited to apply to become a Roxe supernode:

  • Ranked as one of the global top 20 organizations in its industry, or one of the regional top 10 in its industry.
  • Assets Under Management (AUM) > $100 million USD (or equivalent) 

OR serve more than 1 million retail clients per year 

OR serve more than 10,000 institutional clients per year 

OR annual operating budget > $10 million USD (or equivalent)

  • Strong KYC/AML, security and risk control record and processes
  • Strong blockchain or IT infrastructure

5. Roxe Supernode Partner Program Timeline

The Roxe Supernode Partner Program timeline:

  • 9/10/2020:  Roxe Supernode Partner Program announcement; qualified companies are encouraged to apply to become a Roxe supernode.
  • 12/1 through 12/31/2020:  Roxe supernode entities pilot test being a Roxe supernode.
  • 1/1/2021 through 12/31/2021:  Roxe supernode entities serve for the 1st year; earn 1% revenue share of the transaction fees generated by the Roxe Chain Foundation.
  • January 2022:  Election of the next set of Roxe supernodes by the holders of the ROC token.
  • 1/1/2022 through 12/31/24:  Roxe supernodes selected in January of 2022 will serve a three year term as a Roxe supernode.  If a Roxe supernode fails to meet the applicable performance and security standards, it will be downgraded and replaced by a candidate node.   
  • January 2025: Election of the next set of Roxe supernodes by the holders of the ROC token.

6. How to Apply to Become a Roxe Supernode

To apply to become a Roxe supernode, please fill out the Contact Us form on the Roxe.io website