Mainnet Launching June 30th

Hi everyone

We are incredibly excited to announce that the SKALE Network will be launching on June 30th! The community set a goal to launch in Q2 and despite a pandemic and associated challenges, we’ve been able to push through to meet this goal. The Incentivized TestNet launched on May 20th and has been running smoothly with no downtime! Please read below for further details on the launch.  

A Three Phase Launch

Phase 1: June 30, 2020

Phase 1 will be a restricted Mainnet that will not have any bounty, transfers, or issuance active in the Network. This phase will support the initial strengthening and security of the network, which will be further hardened and decentralized throughout Phase 2.

The network will be restricted to validators who have run in the TestNet and have gone through an onboarding process. Due to resource limitations this list was capped in April, but will be opening up in Phase 3.

Phase 2

Phase 2 will launch following the ConsenSys Activate Launch. A public allocation of tokens will be distributed via the Activate platform through a 3 day Dutch Auction. All early supporters and public launch participants will receive their respective token allocation at the same time during Phase 2, following the conclusion of the Activate launch.

The network will run in a delegated state with no token liquidity, but issuance and bounty will be live and distributed to token holders that are staking and securing the network. This period will be referred to as the Proof of Use Period, which is a core pillar of the Activate Token Launch Standards. Phase 2 is designed to further increase network participation and security heading into Phase 3.

Validators that completed onboarding and successful participation in the TestNet will be running the network. This list will grow as another onboarding and Incentivized TestNet will launch in Q3 to a much larger set of validators with a larger incentivization grant.

For further details and to register for the upcoming auction please visit ConsenSys Activate. Specific dates and additional details for the Q3 launch will be announced by the Activate team in the coming weeks.

Phase 3

Following the 90 Day Proof of Use Period, the network will turn into an open state where tokens that are unlocked can be transferred and exchanged. The only unlocked tokens at this phase will be tokens purchased in the Activate launch and tokens earned by staking or validating during the Proof of Use Period. All team and early supporter tokens are locked for a period of 6-36 months following the Phase 2 launch conducted on Activate.. This allows for a healthy start where speculation and volatility are pushed out to a point where the token utility, validator side growth, and dApp traction can take hold in a viable sustained manner.

The Network will open up in entirety to all developers, and validators as soon as it is feasible during Phase 3.

In summary, we are very close to launch. Please stay in touch for further updates and keep an eye open a few weeks from now for more specifics on Phase 2 and 3 dates.

Thanks!

Jack

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How to stay in touch with the project:

• Please get in touch with the community via Telegram for community related inquiries.
• Please get in touch via Discord for developer/validator inquiries.
• Follow SKALE Network updates via Twitter.

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