security
Tradisys node: building up a leasing pool from scratch
Thanks to successfully attracting leased WAVES, the node was quickly able to become one of Waves' largest nodes.

Tradisys originally focused on writing trading bots on the Waves Platform.

«However, we soon realized that we need our own node,» recalls Ivan Voronin, Tradisys founder. «Running a node doesn’t require substantial resources, so why not do it?»

The main motivation for the Tradisys team was security of the network.

«Our original motivation for running a node wasn’t financial,» explains Voronin. «Running your own node is more secure.»

«We need decentralization to avoid possible rollbacks of the blockchain,» he adds. «And we didn’t want our node to be too big, because that would undermine the decentralization concept.»

So, Tradisys set about building up a leasing pool from scratch, and that turned out to be quite a challenging task.

The technical side of deploying and running a node is quite straightforward. You don’t need powerful computing capacities or sophisticated tech skills. Many videos and guidelines explaining the process of setting up a node are available.

But persuading people to lease their WAVES was much more difficult.

«How could you persuade people to lease their WAVES to a new node that doesn’t yet have a reputation?» Voronin says. «We started building up a leaser pool at a time when leasing was overall not very profitable, and a new node wasn’t able to pay much to leasers.»

The original idea was to motivate potential leasers by passing all the revenue from leased tokens onto them, without deducting any fees for running the node. However, even that wasn’t enough.

So, the next idea was to offer leasers free tokens that Tradisys received from its partners in the trading bot field. Initially, partner tokens accounted for up to 90% of our payments to leasers.

Getting the first large leaser was most difficult.

«I was negotiating with a potential leaser of 10,000 WAVES and I was having a hard time convincing him,» Voronin recalls. «So, I challenged him: 'If you lease your 10,000 WAVES to our node, and we are unable to get 100,000 leased WAVES within a month, we’ll return your tokens to you.' We ended up attracting 250,000 WAVES. After several biweekly and monthly payments, people began to trust us.»

As the node grew, payments to leasers increased, and the proportion of partner tokens in overall payments declined. When the node’s generating balance reached 500,000 WAVES, sending out partner tokens was discontinued.

«The proportion of partner tokens in the total payments was insignificant, and we dropped that,» Voronin says. «By then, our node already had an established reputation, also bolstered by our development work on the Waves Platform.

Now Tradisys' node is among Waves' top 5 largest nodes. Running its own node also helped Tradisys to build out a community, earning fame not only as a blockchain development team, but also a leasing pool.

«Now it is clear to us that installing our own node was the right decision,» Voronin concludes.