As part of the ongoing efforts to ensure a smooth onboarding process for Node Validators onto the Vulcan Blockchain, a comprehensive 3-stage approach will be implemented. This process is designed to streamline the verification and validation of Node Validators, ensuring that only eligible and trusted participants are allowed to join the network. Each stage of the onboarding process will be released in a phased manner. This article serves to give a high level overview of the 3 stages with actions to take now during Stage 1.

Stage 1: Wallet Address Selection

The first step in the onboarding process involves choosing the wallet you will use for your verification. This wallet will be THE wallet used throughout the entire Node Onboarding process. This wallet must contain your Node NFT(s). Your KYC NFT will be airdropped to this wallet and will not be able to be moved. This ensures that only those Validators who meet the requirements set by the Vulcan Blockchain are eligible to proceed to the next step. This wallet will also be used to receive/claim your rebased $VUL.

If you have Node NFTs stored in different wallets, you have the option to simplify the process by combining them into a single wallet. However, it’s important to note that if you prefer to keep your Node NFTs in separate wallets, you are free to do so. Nonetheless, combining them into one wallet can help streamline the onboarding process.

Stage 2: KYC Verification Through Assure DeFi

As a crucial step in the onboarding process, Node Validators are required to undergo a thorough KYC (Know Your Customer) verification process through Assure DeFi. This verification process includes the collection and verification of personal and financial information, such as identification documents, contact details, and financial history. Assure DeFi, a trusted and compliant KYC service provider, ensures that the Validators’ information is securely collected and verified in compliance with relevant regulations and industry best practices. This step is vital in establishing the integrity and trustworthiness of the Node Validators, as it helps prevent potential fraudulent activities and enhances the overall security of the Vulcan Blockchain network. After being accepted you will receive a KYC NFT that will be soulbound to your wallet, meaning it cannot be transferred.

The KYC verification process will be conducted by Assure DeFi at a price of $289 USDC per person. There is no additional fee for holders of more than one node. More information about the KYC verification process will be released before launch of Stage 2.

Stage 3: Node Onboarding

Once the KYC verification process is completed and the Validators’ information is deemed valid and trustworthy, the final step involves the actual onboarding of the Node Validators to the Vulcan Blockchain. This includes providing the necessary access credentials (Node NFT and KYC NFT) and technical configurations to enable the Validators to join the network and actively participate in the blockchain ecosystem. During this final stage you will receive a secondary wallet address for all node earnings to be deposited.

Important Steps for Node Validators: Your Next Actions

  • Make sure Node NFT is in a secure wallet that you are willing to use for the entirety of the process. This wallet cannot be changed once you have undertaken the KYC Verification
  • If you have more than 1 Node NFT decide if you want them in the same wallet or separate wallets. You will not be able to move any of the NFTs once KYC is complete as metadata stored on the KYC NFT will determine where the NFTs are located.
  • Stage 2 information to be released shortly.

Additional Notes

  • Only nodes that have been through the KYC process and onboarded will have access to their rebased $VUL. Initial $VUL used to purchase a node is forever locked against your node. This allows you to earn rebases off your $VUL.