A Service Provider is the channel through which the newly released coins are distributed, and whose activity facilitates the coin release. The other non-provider users should connect to them to get their coins from the daily emission. Connected users get the new released coins from the system directly, not from the provider. There is no provider payment risk.
You can join a providers network or you can become a provider simply by set it on in your wallet at the "Provider settings" section. Please note that join a providers network will require transaction fee to be paid.
The daily 2.5% gain is not automatic. First you need to own Corion coins. The emission is based on the exchange between COR and USD. Anytime the rate goes above 1 USD coins are released to balance the price. Each 3 hours the price of Corion is checked (automatically by the system) and If the price of COR is above $1, then 0.3% new coins are released to balance the exchange rate.
Please note that the emission is managed by an algorithm and a smart contract. Because of this the system releases the ZERO release as well. When you claim the emission you have to go 1 by 1 even claiming the zero emissions too. As the smart contract handle the claim itself as transaction there will be a transaction fee to be paid.
You can change provider only if you cleared your claim queue by call all remaining emissions.
The Providers keep part of the realeased coins. Many service providers give 70% but this can be vary. To become a Provider you have to deposit at least 3000 COR (we recommend at least 3050 COR because of transaction costs) on the address you want to use for this service. Having done that go to the “PROVIDER” in the menu list and click on “BECOME” first, then on “BECOME PROVIDER”.
To join or become a provider you will also need some ETC for gas. (we recommend at least of 0.2 ETC).
Please note that the 3000 CORs deposit is excluded from the daily gain. Also important to mention that if you have additional funds on your Provider account, it has to be moved to another CORION address and this address has to join a Provider, most probably to your own. Daily coin release happens automatically, though you have to claim it manually.
If you need more info about the benefits and requirements please contact us via www.help.corion.io