Memetic Masternode Setup

The process of setting up a remote MEME Masternode may seem daunting but you only need to follow a few steps.

Start with the checklist and work your way through the steps.

Step 0 – Checklist

You will need the following.

  • 15,000.1 MEME coins. You only need 15,000 for your masternode, but do need a bit more to make the transactions.
  • Latest version of the Memetic wallet – check the Memetic website for the official version
  • 10 minutes of your time

With that, follow along the steps below and you will be good to go. It is recommended to keep your details in a text file similar to the animations.

Step 1 – Sign up for Nodeshare hosting

As a first step you have to purchase a NODEshare subscription. We will then send you a file with the IP address for your node. You will need this to setup your Memetic Masternode in your local wallet.

Step 2 – Setup Memetic Masternode

Adding the Memetic Masternode (MasterToads) is fairly simple. Open your wallet and Create a new MasterToad.

Pick a unique alias – mn01 is fine if you only have one MasterToad.

Paste the IP address received as part of the setup instructions into the address field.

Step 3 – Get Masternode address

In order to transfer 15,000 MEME in the next step, get the correct address to transfer the funds to.

You can get the address by copying it from the MasterToad screen – click on the “Copy Address” button. Save it in the text file for future reference.

Step 4 – Transfer funds

Now you need to transfer 15,000 MEME to the address we copied in step 3. This needs to be exactly 15,000 in one single transaction. The Memetic wallet will add the fee automatically.

If you have a mastertoad already set up, you MUST use COIN CONTROL so coins are not sent from an existing Masternode. To activate COIN CONROL: Go to Settings, select Options, Wallet, and tick Enable Coin Control.

As you are transferring these coins to yourself, within your wallet from one address to another, you will only see the Transaction fee in your transaction list.

Your transaction needs 15 confirmations before you can start your node, perfect time to let NODEshare know about your private key! Onto Step 5.

You will have to enter your password if you encrypted your wallet. If you don’t have your wallet encrypted, you will be able to do the transfer without any popups.

Step 5 – Send private key to NODEshare

NODEshare need to update your node with the private key of your MasterToad. You can get the key from the MasterToad screen.

Click on get config and copy the private key from the window that pops up.

Paste it into the same file you keep all your information in and send the file over to NODEshare so your setup can be completed.

Step 6 – Start your MasterToad

Once the NODEshare setup is completed, you will receive a notification to start your MasterToad.

In the MasterToad screen, highlight your node and click start.

If you have your wallet encrypted, you will get an error message “Unable to allocate VIN”

It is important to unlock your wallet before starting your node. Click on settings in the menu, then unlock and enter your passphrase. Make sure “For Staking only” is ticked.

Afterwards your node will start without problems.