BandChain GuanYu Testnet #4: Laozi Testnet #1 Launch & How to Join as a Validator
Road to Phase 2: Guanyu Testnet #4, Validator Setup and Migration Timeline
Since our successful mainnet upgrade of the GuanYu version, our community has grown in both validators and developers alongside an exponential increase in the number of oracle requests signifying a rapid increase in adoption. Our next step in the Band Protocol journey is to improve the economy of BandChain in Phase 2 — codenamed Laozi — which provides new features allowing institutional data providers to collect fees from oracle requests, and sending oracle requests across other Cosmos-based chains using IBC protocol.
Furthermore, Cosmos SDK has released the stargate version, which provides many powerful features that greatly improve performance, cross-chain compatibility and scalability of the BandChain decentralized oracle network.
The opportunity to upgrade our chain to Phase 2 has come, we are ready to begin upgrading BandChain.
Migration Test: Preparing For BandChain Phase 2 Mainnet Launch
In preparation for the public upgrade from GuanYu to Laozi on the Mainnet, we will begin to test the migration on testnet to ensure that the migration process is not prone to errors and any unforeseen circumstances can be caught. This article will outline the following:
- Guide to join the new GuanYu Testnet #4
- Upgrade process from GuanYu Testnet #4 to Laozi Testnet #1
In similar fashion to our previous Wenchang to GuanYu test migration, this is a coordinated process with all BandChain nodes to familiarize the process, ensuring that validators can stop, export and upgrade their genesis files to start a Laozi node with the exported chain state.
GuanYu Testnet#4 will be used in the migration process which has the expected genesis data to simulate a test in a similar environment to the migration in production. During the test migration process, we will still run the current GuanYu testnet#3 as the main testnet for developers. When we are ready to move forward with the migration in production, we will continue to deprecate GuanYu testnet #3 and use Laozi testnet #1 instead — more details on this when the time comes!
Here the summary of steps for validators to participate in the test migration process:
- Join GuanYu Testnet #4 (node operation on GuanYu Testnet #3 continues)
- Migrate GuanYu Testnet #4 to Laozi Testnet #1
- When Laozi testnet #1 is stable enough, GuanYu testnet #3 will be deprecated
Instructions on Joining GuanYu Testnet #4:
Validators who do not maintain oracle provider status and do not migrate to Laozi once the upgrade in production will receive significantly less rewards. To best prepare for the Mainnet migration, we urge all validators to join our new GuanYu Testnet #4 now, and at the very latest before Wednesday May 12th 2021 at 11:59PM UTC. Validators who participate in the test migration will be familiar with the Mainnet process and first-movers once the upgrade is completed in production.
In order to join our GuanYu Testnet #4, instructions can be followed here:
Migrate GuanYu Testnet #4 to Laozi Testnet #1:
After all validators have join GuanYu testnet #4, all validators will require at least one engineer to be present for migration process from GuanYu Testnet #4 to Laozi Testnet #1 on Thursday May 13 at 2:00PM UTC by following the step-by-step upgrade instruction here:
Please mark this event on your calendar.
We will be communicating any updates on this process on the `guanyu-testnet` Discord channel. Please make sure you’re up to date by joining our Discord:
Join the Band Protocol Discord Server!
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After Laozi Testnet #1 has been launched successfully, our team will perform testing in various scenarios and edge cases to make sure this version is ready for use on mainnet and the network operates as expected for developers integrating BandChain before using upgrading on the Mainnet.
Frequently Asked Questions
Why do we begin with GuanYu Testnet #4, not GuanYu Testnet #3?
In order to test migration from GuanYu to Laozi version, we need to make sure that data in the GuanYu chain matches our expectations, it is much better if we start the chain like a newborn network by leaving the GuanYu Testnet #3 behind and join GuanYu Testnet #4, which has a genesis state that matches our expectation.
I’m a validator. What do I need to do for this event if I am a validator or new member?
Firstly, validators should join GuanYu Testnet #4 before Wednesday May 12th 2021 at 11:59PM UTC. The instruction can be found here:
Then, we will perform testing of migration from GuanYu testnet #4 to Laozi testnet #1 on Thursday May 13 at 2:00PM UTC. The instruction can be found here:
From the first Wenchang Testnet to the third, we are proud and grateful to have an amazing and contributive group of validators helping secure the BandChain decentralized oracle network. This would not be possible without the participation of our 70 validators on the GuanYu Mainnet to-date and over 25+ partners currently utilizing Band oracles.
If you have any issues with running or monitoring BandChain nodes, be sure to reach out to us on Discord ASAP to ensure that issues are solved in preparation for Mainnet.
We look forward to seeing you on GuanYu Testnet #4 and having you participate in the upgrade test.
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.