Fee Payments/Staking Rewards on User-Created Subnets

Summary

After reading the “Create a Blockchain” Tutorial, I had some follow-up questions:

  • When creating a blockchain (let’s say an AVM-based chain) on a user-created subnet, how do you specify which currency must be used to pay fees?
  • Is there a way to specify that validators receive some non-AVAX currency as a reward for validating or do they only get their standard AVAX staking rewards for validating the default subnet?

Fee Payments

When creating an AVM-based blockchain on a new subnet, the creator has the ability to specify “genesis data” to use. However, I didn’t see any option to specify which currency created in genesis should be used to pay for fees on the created blockchain. I’m assuming there must be a way to do so (and I’m missing something) because it is not possible to perform a cross-subnet transfer to import AVAX onto the new blockchain to pay fees (meaning no one could create transactions on the new blockchain).

Staking Rewards

When creating a new subnet, I did not see a way for the creator to specify how validators would be rewarded for helping to validate the subnet (only a way to provide an initial list of validators and some control keys to change the validator set). I understand that any subnet validators must be validators on the default subnet so they will get their normal AVAX rewards but it doesn’t seem possible to reward them with some custom asset as well?

Thanks!

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Currently, when you create a blockchain there is no way to specify which asset is used to pay fees. There is also no way to create a subnet with in-protocol staking rewards. Both of these are on the roadmap, along with other functionality around subnet/blockchain creation.

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asked same questions months ago, found the solution on forking the network, my project is not yet alive but if they don’t add such features i will not go with custom blockchains rather than fork

Well, I can confirm that those features have not been added yet. But they are definiytely on the roadmap, it’s just we have other features to go through first (state summaries, pruning, fastboot, governance). Cannot comment on when custom blockchains will get active development.

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what’s the discovery mechanism to find subnets I could be staking? If i knew of more of them, I’d happily stake as many as possible… my machine is mostly idle!

Well, discovery process would not be very useful now, as currently there are no other subnets you could be validating on. Subnet functionality is yet to be fully developed, so right now the support for them is rudimental. But that is going to be the focus of the next major development push, once Apricot is out.

Avalanche definitely is a future financing tool, we are waiting they add more options rather then avax rewards since they are tool for us to develop our own blockchain app, so we hope we could customise our own token rewards. Tks

Would be good to know what is is currently possible and what functionality is planned for subnets.
The docs just have some basic example of creating a subnet , adding validators to it.