DeNet Storage Protocol
DeNet is a unique, self-contained DePIN storage protocol. Launched in 2017, DeNet offers an opportunity to utilize spare storage capacities all over the globe eliminating the need for centralized data centers. By leveraging blockchain technology, smart contracts and the core principles of Web3, the DeNet Storage Protocol offers a mutually beneficial solution for all network participants, restoring the data ownership for users.
Built-on services
There are several services built on the DeNet Storage Protocol with a high competitiveness in both Web2 and Web3 markets: DeNet Storage mobile app, DeNet Node, DeNet Payments, DeNet Market, DeNet Desk. Anyone can utilize the protocol to create a new service.
Features
- Multichain – the ability to run on any blockchain;
- Storage tokenization;
- Low hardware requirements for Datakeepers (Node runners);
- Full decentralization;
- Non-custodial data storage;
- Low latency;
- No redundancy of stored data.
Problems solved by the protocol
DeNet Storage Protocol aims to address the worldwide data storage problems, including specific issues related to Web3 storage:
DeNet Storage mobile app
DeNet Storage is the largest decentralized storage mobile app with over 80k users. DeNet Storage combines the ease of traditional cloud storage services with the privacy and security of blockchain technology. Available for iOS and Android.
Features
- Privacy
Uploaded files are split into one megabyte blocks and client side encrypted using the user’s key, so only the user can decrypt their data. The blocks are distributed across multiple nodes worldwide. But even a node can’t view the stored data.
- User-friendly
The app has a simple interface, friendly to both crypto-native and non-crypto-native users.
- Seamless payments
DeNet Storage provides the easiest fiat and crypto payments available on the Web3 market.
DeNet Node
DeNet enables utilization of existing storage capacities as part of the DePIN concept.
Here’s how it works:
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no need for significant computing power; earn rewards by sharing free storage space;
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files are replicated across at least 3 and without a maximum number of nodes for security; each file is encrypted for privacy;
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Proof-of-Storage algorithm verifies stored fragments, enabling payment transactions;
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three simple steps: provide space, store data securely, and get paid.
Instructions on becoming a Datakeeper and launching a Node
Benefits of being a Datakeeper
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accessibility for all: minimal technical requirements open opportunities for everyone;
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no intermediaries: fair interactions among Datakeepers, users, and developers;
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environmental impact: Proof-of-Storage promotes eco-friendly mining by reusing unused space;
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Beneficial conditions within Store&Earn program: 500% APY from initial deposit.
DeNet Payments
All-in-one platform for interaction with the DeNet Storage Protocol. Enables buying, staking and renting of TBY token as well as convenient Datakeeper profile.
The Proof-of-Storage algorithm ensures secure payment transactions without the need for intermediaries, promoting fair interactions among Datakeepers, users, and developers.
Store&Earn program
It is a one-of-a-kind concept unlike anything before — it not only empowers users to earn for storing their data, but also incentivizes them to embrace the advantages of a decentralized network through various tasks.
The underlying concept behind Store&Earn is straightforward. Users are rewarded for securely storing their data in a decentralized storage app, but DeNet Storage takes it a step further by multiplying the rewards for active network participants.
The program is a remarkable endeavor that aims to make decentralized storage technologies more accessible and widely embraced. Its simplicity, coupled with its usefulness, makes it highly appealing to both Web2 and Web3 users. And Store&Earn will play a significant role in enlightening even more individuals.
Install DeNet Storage to join the program
How to participate in the Store&Earn program
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Join the Store&Earn program by installing DeNet Storage, making a storage deposit and uploading a file.
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Your total reward depends on your Balance reward (dynamic parameter, based on your storage balance and total number of deposits) and Total boost (boost can be increased by completing different tasks).
Here are the tasks to increase Total boost:
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+1: Each participant automatically receives basic boost for joining the program;
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+1: Share your experience with Store&Earn on your social media channel and receive a weekly boost;
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+2: Enter a referral code to increase boost for one week;
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+2: Unlock this boost by securing 100 GB of data in DeNet Storage;
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+4: Become a DeNet Datakeeper to get the highest boost within the program. We have significantly raised this boost as we recognize the crucial role Datakeepers play in the network’s success.
Additionally, you can invite friends and receive 15% from your referral's reward, and get +10% (total of 25%) if you're a Datakeeper.
DE Token
DE is a governance and deposit token of the DeNet Storage Protocol with a limited supply. The decision for the launch of the DE token on the mainnet was made by the DeNet Consensus members. Link to proposal
The DE token allows to:
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Issue TBY token to use services based on DeNet Storage Protocol;
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Manage DeNet Storage Protocol settings;
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Participate in Consensus voting.
Tokenomics
Learn how to open a storage deposit
TBY token
TBY, short for Terabyte/Year, is a storage token of the DeNet Storage Protocol. offers real utility in DeNet's storage ecosystem and has unlimited supply. TBY allows to:
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Automatically pay for storage services via a Proof-of-Storage contract.
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Receive payment for providing storage resources (for Datakeepers)
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Determine with 100% accuracy the amount of purchased storage/traffic without further volatility.
TBY's Value
TBY's value aligns with global storage demand and supply dynamics. By 2030, the volume of stored data will reach a 1300% increase compared to 2020, which will increase the demand for TBY and its price. However, TBY will remain constant in storage capacity – 1024GB.
Opening a TBY deposit
Issuing TBY by opening a deposit at a predetermined proportion of DE to TBY according to the scheme:
The storage cost is defined as:
P = D/T, where P is the storage cost of the next addition of DE to the contract
- the number of DE put into the smart contract - D
- number of issued TBY by the smart contract - T
The process of issuing TBY is the following:
- When a contract is deployed, the first TBY is issued to correct the initial proportion of DE per TBY defined by the address deploying the smart contract.
- The ecosystem member transfers a certain amount of DE into a smart contract to issue TBY at the offered proportion.
- The smart contract issues the required amount of TBY and sends it to the user's address with the exception of the Pay-in Fee regulated by the Consensus members.
- Pay-in Fee includes the Mint Percent sent to the fee collector and is determined by Consensus participants through on-chain. This parameter is responsible for keeping TBY in the smart contract and affects the future proportion of DE to TBY.
- The smart contract determines the proportion for the next deposit opening TBY and closing TBY_Mined operation.
Each TBY issue transaction always increases the storage cost due to a decrease in the proportion by burning off a part of the commission.
Closing a TBY_Mined deposit
TBY_ Mined is a reward for participants in the DeNet Storage Protocol ecosystem who provide their storage resources (Datakeepers).
Withdrawal of DE from the smart contract is done by the reverse process:
- Datakeeper determines the amount of TBY_Mined to close a deposit at the offered DE to TBY_Mined ratio and transfers TBY_Mined to the smart contract.
- According to the current proportion of DE to TBY_Mined, the smart contract unlocks DE except for the Pay-out Fee regulated by the Consensus members and transfers DE to the Datakeepers' address.
- The transferred amount of TBY_Mined is burned.
- Pay-out fee includes Unburn Percent parameter, which is determined by Consensus participants through on-chain voting. This parameter is responsible for defining the amount of DE returned to the Datakeepers and affects the decrease in the future proportion when opening a deposit.
- The smart contract determines the proportion during the next deposit opening.
Each transaction to unlock DE always decreases the proportion of the next deposit opening because part of TBY Mined, sent to the withdrawal is not burned.
DeNet Consensus
Consensus members, including storage providers and users, have a direct interest in the success of the DeNet Storage Protocol. Their prosperity depends on the protocol's implementation and popularity.
Governance of DeNet Consensus occurs through on-chain real-time voting and off-chain governance, which requires agreement among all Consensus members before implementing a proposal. Governance of DeNet Consensus may change or expand in the future due to subsequent community decisions. All government proposals must lead to the achievement of the DeNet Consensus's goals, and its components must not contradict each other. Otherwise, DIPs may be rejected by DeNet Consensus members.
The main goal of DeNet Consensus is to ensure:
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The stability and security of the DeNet Storage Protocol.
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The further development of the DeNet Storage Protocol.
In accordance with this, the areas of DeNet Consensus governance are:
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Updating dynamic DeNet Storage Protocol settings.
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Fully updating or the deployment of new smart contracts for the DeNet Storage Protocol.
To participate in the governance of DeNet Consensus, it is necessary to be a holder of veDE governance tokens. To obtain veDE, make a veDE deposit in exchange for DE. The minimum token amount to get veDE = 0.053 DE.
The governance of DeNet Consensus currently takes place at consensus.denet.app. In the future, this website will only allow viewing governance data. Participation in DeNet Consensus will be possible through the DeNet Consensus Voting app on DeNet Market.
DeNet Storage Protocol v.3
Smart Contracts
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Payments smart contract (0x1a9b54A3075119f1546C52cA0940551A6ce5d2D0), which manages the opening and closing of storage deposits and the issuance and burning of TBY. This SC works in connection with the Proof-of-Storage SC.
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Proof-of-Storage smart contract (0x4d37D386462D16e25079E5c6d24f5176E64C4118), which allows DeNet nodes to send proofs for file storage, open and close deposits by appealing to the Payments SC, and deduct payment in favor of the node when submitting the proof.
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Node NFT smart contract (0x9e8e137DCFd05aEC8208D379c5f5792b7aCf65c1), which manages the number of nodes connected to the DeNet network.
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StakerV2 (Rent Protocol) smart contract (0x0F872713510626ECAfA51B8fb4c6c5D969840856).This contract enables the TBY renting within DeNet Storage Protocol, hence simplifying the process of opening network deposits.
The following functions of StakerV2 (Rent Protocol) are available:
- Stake: allows users to lock TBY and receive payment from TBY renters, releasing stakedTBY
- Unstake: allows users to unlock available TBY along with received rental payments, burning stakedTBY and issuing proportional reward + locked asset amount (if there are free tokens).
- Borrow: allows users to rent TBY and receive rentedTBY to run a node. Charges user interest (rental fee). The rental fee is calculated proportionally to the free funds for borrowing, ranging from 2% to 1000% per year.
- Repay: enables any user to repay the loan when the loan period is over and receive graceFee from the loan amount.
Governance Token veDE v.3
veDE is the governance token of the DeNet Storage Protocol's 3rd version (the contract address is 0x6261E1AAc369CD694093455f9e2B65b31AcEdDa1). It can be received by locking DE at a 1:1 ratio when accessing the contract in the app. It is used only for voting for one or another proposal in the DeNet Consensus.
The vote power of is calculated according to the following formula:
TimeFromLastMove - the time of veDE staying at the user's address (but not less than 7 days and not more than 1 year). Any transaction (only opening or closing a deposit is possible) involving this veTB results in a value of 7 days;
N is the amount of veDE left in the account after the last transaction.
Thus, the vote power depends on the duration of the stacking and increases from the moment of your last deposit/withdrawal of the deposit.
In On-chain governance of the DeNet Storage Protocol v.3 there are no limits on the frequency of voting. However, after voting the deposit is locked for 7 days and during this period withdrawal is impossible.
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You can open and close the deposit at any time, but these actions will reset the accumulated VotePower to a stage of less than 7 days (19 VotePower per 1 veTB). Subsequently, the VotePower accumulation will continue.
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Whenever governance tokens are moved, all votes submitted during the entire on-chain governance time are nullified.
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According to the time parameter, the vote power can increase up to a maximum of 1 year. In the next years, if there is no movement of the governance tokens, the vote power is retained.
On-chain Governance v.3
Subject of on-chain governance of the DeNet Storage Protocol v.3
Governance Platform
On-chain governance of the DeNet Storage Protocol v.3 takes place in the DeNet application in a separate DeNet Consensus dApp. Voting is done by sending a transaction addressed to a smart Consensus contract, where the result of the transaction is a change in the key parameters of DeNet Storage Protocol contracts. Voting is instant - at any time a DeNet Consensus participant can make a change to the DeNet Storage Protocol parameters according to their vote power.
Off-chain Governance v.3
Off-chain governance structure of the DeNet Storage Protocol v.3, its smart contracts and settings
*IDIP - initial DeNet improvement proposal - a proposal being discussed and tested by participants of the data storage network.
*DIP - DeNet improvement proposal - a proposal that is accepted/rejected by DeNet Consensus members with governance tokens.
- IDIP creation stage
Platform: DeNet Discord Server, Consensus category
Government stage:
Generating and discussing ideas for improving the DeNet Storage Protocol. Creating an IDIP and testing its functionality on the test and main networks in accordance with the criteria approved by Consensus members. Passing an audit of the protocol, including the proposed IDIP.
! All IDIPs must correspond to the goals and areas of the DeNet Consensus government.
- IDIP acceptance stage
Platform: consensus.denet.app
Government stage:
Formulation and submission of IDIP by any member of the DeNet community for consideration among the DeNet Consensus members with governance token veDE.
Structure of the proposal:
- Title that captures the essence of the IDIP proposal
- Proposal description:
- Motivation - indicating the problem that the proposal will solve. The motivation must also specify the goal (according to Consensus goals) to which the proposed DIP corresponds.
- Specification - description of a new feature or technical changes.
- Justification - explanation of why this solution is the best for the proposed problem and provides the greatest benefit.
- Assumption regarding the consequences in the security and governance areas.
- Specifying the SC address, transaction code, links to IDIP verification in the test and main networks and to audits.
- Confirmation of functionality - specifying the indicators that were obtained in testnet and mainnet according to the criteria set by the members of the DeNet Consensus.
Within 1 day, DeNet Consensus members must approve/reject the proposed IDIP for further voting.
Quorum - 30% of the total number of DeNet Consensus members must review and like the proposal. Once the quorum is reached for positive reactions, any DeNet Consensus member may submit this IDIP for further voting. In all other cases, the IDIP cannot be submitted for voting and is archived in the IDIP list for six months.
- Voting among DeNet Consensus members based on their voting power
Platform: consensus.denet.app
Governance stage:
For a period of 5 days, members with governance tokens can vote on the implementation of the proposed DIP.
The proposal is considered accepted when the following conditions are met:
- Quorum - 80% of votes calculated based on voting power;
- More than 50% of the total voting power of DeNet Consensus members voted in favor of accepting the DIP.
The total voting power is calculated at the time of creating the DIP.
If the DIP receives a majority of negative votes or does not meet the quorum, it is considered as not accepted and is permanently saved in the "Proposals history" tab.
- DIP confirmation by validators
Platform: https://gnosis-safe.io/
Government stage:
Once the voting has met the quorum and collected a majority of positive votes, any DeNet Consensus member can submit the DIP for validation.
Validators vote "for" or "against" the proposal for a period of 3 days. These individuals have the right to veto if the proposal contains a potential risk or malicious transaction for the development of the DeNet Storage Protocol. The veto is considered imposed if ≤6/8 signatures in the multisig wallet are in favor of accepting the proposal.
- Recording the results
All accepted and rejected DIPs are recorded in the "Proposals history" section of the DeNet Consensus Voting app.
Tracking off-chain governance stages of DeNet Consensus members
For convenient tracking of governance stages within the DeNet Consensus Voting app, the following statuses are introduced:
- NEW - a new IDIP available for consideration among participants with governance tokens;
- Awaiting vote - an IDIP approved by DeNet Consensus members and ready for voting on its acceptance among participants with governance tokens. Any DeNet Consensus member can advance the IDIP to the next stage;
- Consensus Voting - DeNet Consensus in the process of voting for the acceptance of the DIP;
- Validating - in the process of validation for the acceptance of the DIP;
- Accepted - a DIP that has passed the entire DeNet Consensus governance stage and has been accepted for implementation.
- Rejected - a DIP that has been rejected during the governance stage of Consensus.
Criteria approved by the Consensus for passing iDIPs on the DeNet Storage Protocol development in test and main networks
DeNet Storage Protocol v.2
On August 18, 2023, governance of Version 2 was terminated by Consensus members
All current documentation on the governance token for the 3rd version can be be viewed in the DeNet Storage Protocol v.3 section.
The DeNet Storage Protocol v.2 consists of the following components:
- Payments smart contract (0xe84DfA1a440daB5A5945F7774b22baf2B431D6D3), which manages the opening and closing of storage deposits and the issuance and burning of TBY. This SC works in connection with the Proof of Storage SC.
- Proof of Storage smart contract (0x9f09Ed9968cE5d45bf918492E7CD5Faaf4236180), which allows DeNet nodes to send proofs for file storage, open and close deposits by appealing to the Payments SC, and deduct payment in favor of the node when submitting the proof.
- Node NFT smart contract (0x3B0233f5B8798e11473247e3A6624f3a9FbCf5eE), which manages the number of nodes connected to the DeNet network.
Members of DeNet Consensus government:
To participate in the DeNet Consensus governance, it is necessary to be a holder of veTB governance token, if you want to manage the 2nd version of the DeNet Storage Protocol.
The governance of DeNet Consensus currently takes place at consensus.denet.pro. In the future, this website will only allow viewing governance data. Participation in DeNet Consensus will be possible through the DeNet Consensus Voting app on DeNet Market.
Governance Token veTB v.2
On August 18, 2023, governance of Version 2 was terminated by Consensus members
All current documentation on the governance token for the 3rd version can be viewed in the Governance Token veDE v.3 section.
veTB is the governance token of the DeNet Storage Protocol's 2nd version (the contract address is 0x1dCFA28e3fbCE3FACDc69DDcf1fd92D355520f33). It can be received by locking TBY at a 1:1 ratio when accessing the contract in the app. It is used only for voting for one or another proposal in the DeNet Consensus.
The vote power of is calculated according to the following formula:
TimeFromLastMove - the time of veTB staying at the user's address (but not less than 7 days and not more than 1 year). Any transaction (only opening or closing a deposit is possible) involving this veTB results in a value of 7 days;
N is the amount of veTB left in the account after the last transaction.
Thus, the vote power depends on the duration of the stacking and increases from the moment of your last deposit/withdrawal of the deposit.
In On-chain governance of the DeNet Storage Protocol v.2 there are no limits on the frequency of voting. However, after voting the deposit is locked for 7 days and during this period withdrawal is impossible.
- You can open and close the deposit at any time, but these actions will reset the accumulated VotePower to a stage of less than 7 days (19 VotePower per 1 veTB). Subsequently, the VotePower accumulation will continue.
- Whenever governance tokens are moved, all votes submitted during the entire on-chain governance time are nullified.
- According to the time parameter, the vote power can increase up to a maximum of 1 year. In the next years, if there is no movement of the governance tokens, the vote power is retained.
On-chain Governance v.2
On August 18, 2023, on-chain governance of dynamic settings in Version 2 was terminated by Consensus members
Subject of on-chain governance of the DeNet Storage Protocol v.2
Governance Platform
On-chain governance of the DeNet Storage Protocol v.2 takes place in the DeNet application in a separate DeNet Consensus dApp. Voting is done by sending a transaction addressed to a smart Consensus contract, where the result of the transaction is a change in the key parameters of DeNet Storage Protocol contracts. Voting is instant - at any time a DeNet Consensus participant can make a change to the DeNet Storage Protocol parameters according to their vote power.
Off-chain Governance v.2
On August 18, 2023, off-chain governance of Version 2 was terminated by Consensus members.
Off-chain governance structure of the DeNet Storage Protocol v.2, its smart contracts and settings
*IDIP - initial DeNet improvement proposal - a proposal being discussed and tested by participants of the data storage network.
*DIP - DeNet improvement proposal - a proposal that is accepted/rejected by DeNet Consensus members with governance tokens.
- IDIP creation stage
Platform: DeNet Discord Server, Consensus category
Government stage:
Generating and discussing ideas for improving the DeNet Storage Protocol. Creating an IDIP and testing its functionality on the test and main networks in accordance with the criteria approved by Consensus members. Passing an audit of the protocol, including the proposed IDIP.
! All IDIPs must correspond to the goals and areas of the DeNet Consensus government.
- IDIP acceptance stage
Platform: consensus.denet.app
Government stage:
Formulation and submission of IDIP by any member of the DeNet community for consideration among the DeNet Consensus members with governance tokens.
Structure of the proposal:
- Title that captures the essence of the IDIP proposal
- Proposal description:
- Motivation - indicating the problem that the proposal will solve. The motivation must also specify the goal (according to Consensus goals) to which the proposed DIP corresponds.
- Specification - description of a new feature or technical changes.
- Justification - explanation of why this solution is the best for the proposed problem and provides the greatest benefit.
- Assumption regarding the consequences in the security and governance areas.
- Specifying the SC address, transaction code, links to IDIP verification in the test and main networks and to audits.
- Confirmation of functionality - specifying the indicators that were obtained in testnet and mainnet according to the criteria set by the members of the DeNet Consensus.
Within 1 day, DeNet Consensus members must approve/reject the proposed IDIP for further voting.
Quorum - 30% of the total number of DeNet Consensus members must review and like the proposal. Once the quorum is reached for positive reactions, any DeNet Consensus member may submit this IDIP for further voting. In all other cases, the IDIP cannot be submitted for voting and is archived in the IDIP list for six months.
- Voting among DeNet Consensus members based on their voting power
Platform: consensus.denet.app
Governance stage:
For a period of 5 days, members with governance tokens can vote on the implementation of the proposed DIP.
The proposal is considered accepted when the following conditions are met:
- Quorum - 80% of votes calculated based on voting power;
- More than 50% of the total voting power of DeNet Consensus members voted in favor of accepting the DIP.
The total voting power is calculated at the time of creating the DIP.
If the DIP receives a majority of negative votes or does not meet the quorum, it is considered as not accepted and is permanently saved in the "Proposals history" tab.
- DIP confirmation by validators
Platform: https://gnosis-safe.io/
Government stage:
Once the voting has met the quorum and collected a majority of positive votes, any DeNet Consensus member can submit the DIP for validation.
Validators vote "for" or "against" the proposal for a period of 3 days. These individuals have the right to veto if the proposal contains a potential risk or malicious transaction for the development of the DeNet Storage Protocol. The veto is considered imposed if ≤6/8 signatures in the multisig wallet are in favor of accepting the proposal.
- Recording the results
All accepted and rejected DIPs are recorded in the "Proposals history" section of the DeNet Consensus Voting app.
Tracking off-chain governance stages of DeNet Consensus members
For convenient tracking of governance stages within the DeNet Consensus Voting app, the following statuses are introduced:
- NEW - a new IDIP available for consideration among participants with governance tokens;
- Awaiting vote - an IDIP approved by DeNet Consensus members and ready for voting on its acceptance among participants with governance tokens. Any DeNet Consensus member can advance the IDIP to the next stage;
- Consensus Voting - DeNet Consensus in the process of voting for the acceptance of the DIP;
- Validating - in the process of validation for the acceptance of the DIP;
- Accepted - a DIP that has passed the entire DeNet Consensus governance stage and has been accepted for implementation.
- Rejected - a DIP that has been rejected during the governance stage of Consensus.
Criteria approved by the Consensus for passing iDIPs on the DeNet Storage Protocol development in test and main networks
