An update on my Presearch node...(3 months of earnings)


Hey folks, so this is an update from a previous article I wrote about entitled "Is running a Presearch node really worth it?" 

Let me preface that I am not a financial advisor, and this is definitely not financial advice. As always, please do your own research to find out what the best investments are for you. 

Recap

So a few months ago, I was doing a deep dive into the math of whether or not I should invest in running a Presearch node. If you're unfamiliar with Presearch itself, I would invite anyone who is an advocate for web3 to check it out, and you can use my referral link, so that we can both get 25 free Presearch tokens: https://presearch.org/signup?rid=3535896.

If you've been looking into nodes lately, you'll probably agree that there has been quite an explosion of different node projects out there, most of them built on ponzi-nomics and/or nodes as a service. Presearch however is much, much different. And regardless of whether or not you're interested in running a Presearch node, I really believe and support what they're trying to do, which is to help anonymize web searches by running people's internet activity through different nodes. Thus by running a node yourself, you too can be a part of this movement/project, while also earning staking payouts at the same time, gaining PRE tokens every time someone utilizes your nodes for a successful search. And even if you don't run a node, you can still utilize the Presearch search engine and PRE tokens for every search, up to 30 times a day. Since my last post, they have even now reduced their threshold to withdraw your Presearch search reward tokens from 2000 to 1000, which I think is great!

 

The PRE token and Node Setup

So since I first setup my node back in early January, I bought into PRE when it was around $0.33 a token, and since then it's been on a pretty volatile ride, and like most of the market, after reaching ATH of nearly $0.45 it crashed significantly with the rest of the crypto-market by mid-to-late January to a level of resistance now around $0.18-0.20. 

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Of course it's always disappointing when the price goes down, but I'm particularly not phased by this and see this as a great buying opportunity as the Presearch team is expecting to hit mainnet soon. And of course it's still has a relatively small marketcap so not only can the price continue to be volatile, but also the overall success of Presearch remains to be seen. I do still very much believe in what they are trying to do, so I very well am considering doubling down on my investment and opening another node up soon. 

If you are considering running a node yourself through a VPS like I did, I highly recommend going through racknerd.com, as they are by far one of the cheapest options I've found and Presearch even has a dedicated easy-to-follow tutorial of how to get your node setup. 

 

Calculating rewards

So running a recap from my 1-week update post, I received 6.5 PRE in my first week, but I made a speculation at that time that because of my node's low reliability score, the utilization of my node was low, meaning that I would not be earning that much PRE. And true to form, since then my node has increased and maintained a high level of reliability and has stayed in the high 80's to 90's. Excluding the first week where my reliability score was at its lowest, I accrued approximately 125.5 PRE, or in other words, approximately 9.65 PRE per week, which was significantly increased from 6.5. According to the Omni calculator, this comes out to about roughly 27.55% APY:

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This is very close to what I predicted the accrual rate to be back in my original article where I predicted that I could earn around an APY of 24.90%. Now there's also a few externalities that need to be taken into account with this figure, such as the the volatility of the market and PRE token price over the past couple of months, as well the fact that I wasn't diligent in claiming and compounding my earned PRE back into my node every day. Despite that, it's clear that the more reliable your node becomes, the more yield in PRE it will generate.

 

Other Presearch Features Worth Looking into:

 

1) Keyword Staking

Also with my earning I have also done some keyword staking, which I think is a really awesome part of the Presearch engine. Essentially as long as you have 100 PRE tokens, you can stake it to a specific search, and you can then choose what you want to come up when someone searches those keywords. I'll perhaps do another article with a deeper dive into my experiences in this, but in other words, if you could currently stake 100,000 PRE tokens to the keyword "Amazon" so that your ad (or really whatever link you want to pop up) will appear when someone uses Presearch to search the word "Amazon."

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I really like and support the idea of this because it puts the power of advertising behind individual users, rather than like Google. Also, Presearch allows you to track whatever word(s) you stake with how many searches users have done and how many times your link has been clicked on. 

2) NFTs

In addition to keyword staking itself, keyword stakers are also eligible to get free NFTs! To as far as my knowledge, these have no real utility, but definitely a cool side bonus from the Presearch team. I was pleasantly surprised to see this bad boy in my wallet after a few days of keyword staking:

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If you're interested in checking out the rest of the Presearch collection of NFTs, you can do so here

 

Conclusion

So like I asked myself in the last article, do I regret going into Presearch? Absolutely not. I think with the dip in price, it's probably a pretty good time to buy in, and the nodes show pretty consistent utilization and yield generation. In addition to that, I plan to continue to utilize the keyword staking feature as well too. 

Are you planning on buying into the dip? And I'd like to hear if other people had similar experiences with node running and also if people have found any success with keyword staking. Did putting thousands of PRE to a keyword payoff? 

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Messin' With Cryptos
Messin' With Cryptos

I've made a ton of mistakes along the way in the world of Defi and cryptocurrency. Hopefully by taking some of the lessons learned and cues i've went through, you'll be a bit more success


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