How to Setup THOR Nodes

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THOR is a “node” project that allows you to earn daily rewards passively.

THOR nodes are quick to setup, taking just a few minutes to get one up and running. Compared to other blockchain and DeFi project nodes, like STRONG block nodes, Thor nodes are VERY affordable.

THOR also runs on the AVAX (Avalanche) network which means fees are super cheap.

THOR offers 4 different node tiers that vary in cost and earn at different rewards rates. These fractional nodes are great as they make the barrier to entry quite low for someone starting out with less cash.

The cheapest THOR node costs as little as 1.25 $THOR to setup.

At current market prices the cheapest node (the Heimdall node) costs under $150. The most expensive node (the ODIN node) costs about $8500.

Jump to the node info section for node costs, reward rates, fees, and ROT times compared across all node tiers.

Thor is marketed as “DeFi as a service” (or DaaS for short). They have created a solution providing an easy way to consolidate investments without having to spend countless hours sorting through hundreds of different protocols to find good high-yielding options.

Basically, Thor was designed as a simple solution to make earning passive income accessible to everyone. With a low barrier of entry, Thor nodes provide ease and comfort similar to investing passively in index funds or more like a hedge fund available to anyone.

Quick rundown on setting up a THOR node

  • Get some $AVAX in your MetaMask wallet
  • Swap $AVAX for $THOR tokens
  • Use $THOR to create a node

What you’ll need to follow this guide

  • MetaMask wallet
  • $AVAX token
  • $THOR token

Steps for setting up a THOR Node

This guide covers how to setup the cheapest Thor Node (the Heimdall node). You can follow the same steps to setup any of the nodes, but you will need the right amount of $AVAX and $THOR tokens to cover the cost of the node you want.

1. Create and setup a MetaMask wallet (available as a web browser extension and mobile app).

2. Add the AVAX network to your MetaMask wallet. Go to the AVAX page on CoinGecko and click the little MetaMask fox logo to add the AVAX contract to your wallet.

add avax contract to metamask via coingecko
How to add AVAX to your wallet

Optional – You can manually copy/paste the contract details to your wallet following the official how to setup MetaMask with AVAX guide here.

3. Buy some $AVAX from CoinBase or your preferred exchange (Binance and Kucoin are great options too).

If you are buying $AVAX from an exchange other than CoinBase, check to make sure it supports “C-Chain” AVAX transfers. C-Chain network works with MetaMask.

4. Send your purchased $AVAX to your MetaMask wallet.

5. Swap your $AVAX for $THOR through the exchange TraderJoe.

buy thor with avax on traderjoe
Buy $THOR on TraderJoe and add contract to wallet
Don’t swap all the $AVAX in your wallet. Save at least $20 worth of AVAX for gas fees.

6. Add the $THOR contract to your wallet by clicking the “add to wallet” link on the swap page.

Optional – You can manually add the $THOR contract to your wallet using this address: 0x8f47416cae600bccf9530e9f3aeaa06bdd1caa79

If $THOR doesn’t show in your wallet, make sure you’ve added the contract address for $THOR and that you are on the AVAX network.

7. Go to the THOR dApp dashboard and connect your wallet. Accept the approval fee to use $THOR in your wallet.

8. Select the Heimdall node (or the node that you want). Give your node a name (must be longer than 5 characters), and click create node.

You’re now the new owner of a THOR node! You should be able to see your node in your dashboard along with your earned rewards balance.

thor node
Thor node rewards balance on app dashboard

Thor node info (costs, reward rates, fees)

thor financial node info
THOR node costs, rewards, and key points by node tier (Source: Thor Node discord)

Current token prices

Here’s the latest market prices of $THOR and $AVAX (refresh this page to update the price).

AVAX and THOR prices (live update)

THOR to AVAX conversion

Want to know how many $AVAX tokens you’ll need to buy the THOR node you want?

Use this CoinMarketCap conversion tool to enter the amount of $THOR that your desired node will cost.

thor to avax conversion
Conversion tool for $THOR to $AVAX

The tool will convert the amount of $THOR into the required amount of $AVAX tokens. Buy this amount of $AVAX then later swap it for $THOR.

In this example, it costs 12.5 $THOR tokens to buy the 3rd tier node, which is also called THOR (yes, I know that’s a bit confusing: using $THOR tokens to buy a THOR node with THOR financial). This is the equivalent of 23.67 $AVAX at the time of writing this.

Alternatively, you can use TraderJoe to make this same conversion.

AVAX to USD conversion

Continuing our example, now that you know you need 23.67 AVAX to buy a THOR node, use the conversion tool below to see how much that amount of AVAX will cost you in USD.

So in the end, 23.67 AVAX at the price of $79.97 per AVAX = $1,892.89 USD. You can expect to pay about $1,892 for the node (not including approval and transaction gas fees).

You can also check for live updates of THOR node costs in this google sheet based on current THOR and AVAX market prices.

Additional THOR Resources

THOR Calculators

Use this google sheet THOR node compounding and rewards calculator to see how much you can earn.

This calculator will give you insights like how long it will take to compound into the next tier node based on how many nodes you currently own.

Here’s another interactive web-based calculator to play around with:

This calculator clearly shows your daily rewards in THOR and USD (according to current market prices) based on the number of nodes that you own. It also shows how many days to compound into additional nodes of your choice. Use the sliding scale to set the amount of days which calculates total anticipated rewards based on the nodes you plan to compound.

Common issues setting up Thor nodes

If you experience any issues setting up your node like the common “this transaction is expected to fail” notice, follow this guide from the official Thor Discord:

If you’re getting “transaction is expected to fail” message these may be one of the issues:

  • You do not have enough AVAX for gas
  • You are trying to create a new node but have too little or too many characters in the name (try 5 characters)
  • You are trying to compound, but do not have enough unclaimed rewards for the new node in the DAPP
  • You are trying to create a node, but do not have enough rewards in your wallet
  • You did not approve the contract

Some steps to try:

  • Switch to Eth network and switch back to Avax
  • Refresh browser/clear cache/reset metamask
  • Check if metamask is up to date
  • If using hardware wallet, ensure firmware is updated

Thor FAQ

How do THOR node monthly maintenance fees work?

Each node tier has its own monthly maintenance fee. You will be given 30-days to pay the fee on time. Monthly maintenance fees will be payable as a flat dollar amount in $AVAX through the dApp.

If you fail to pay the maintenance fee by the node’s due date, the node will become inactive and will stop accumulating rewards.

Nodes will remain inactive indefinitely or until reactivation occurs. Inactive nodes will NOT be deleted.

Any unclaimed rewards will be forfeited and sent directly to the THOR treasury.

To reactivate a node, you will have to make payment of any overdue fees up to the date of reactivation. A one-off reactivation fee to the equivalent of the tiers fee will apply (e.g $2 Heimdall & $20 Thor).

Once your node fees are current and the node is reactivated, it will begin receiving rewards again and a new due date will be set for 30 days out.

What is the THOR claim tax?

As of the February 2022 – V2 contract release, each node tier will have its own flat claim tax. If at any point you claim node rewards, you will pay this claim tax.

You can avoid the claim tax by compounding your node rewards into a new node completely tax-free.

Can you stake and yield farm with THOR tokens?

You sure can! You provide liquidity in the form of THOR-AVAX pair to get LP tokens with TraderJoe. These LP tokens can then be staked on the THOR platform. Follow this guide on providing liquidity.

More recently, THOR now also offers single-side staking on their platform. You can simply provide THOR tokens to earn THOR token as rewards. Follow this staking guide.

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