The Countdown to CTSI’s Reserve Mining — Announcing Pre-Staking with Coinone
November 25, 2020 — We are extremely excited to announce our brand new mining website going live.
In December, the first phase of Cartesi’s side-chain Proof of Stake system will be on the Ethereum Mainnet.
In celebration of this event, we are happy to present a partnership with Coinone, who will be immediately supporting pre-staking and later Mainnet staking of CTSI for all registered users. Korean users can also enjoy the benefit of Coinone’s direct CTSI/KRW pair. In the future, we will be expanding support to other exchanges and as our delegation system is ready, we will enable easy access to staking for all users of CTSI.
Pre-Staking with Coinone
From now until the Mainnet launch, Coinone will be providing users with the ability to easily pre-stake their CTSI in anticipation of the launch.
Details: Pre-Stake CTSI on Coinone in preparation for our CTSI Reserve Mining Mainnet launch. Coinone will be providing 30%+ in pre-staking rewards for their users during the campaign duration.
- Pre-Staking Start Date: November 25, 2020 3:00PM KST
- Pre-Staking End Date: December 25, 2020 12:00AM KST
How to Pre-Stake
CTSI Mining on Mainnet
In order to prepare for the Mainnet launch, users can review our CTSI Reserve Mining — How it Works article to get familiar with the Proof of Stake and reward system.
Rewards: For the first 6 months, early adopters of Mainnet staking will have the chance to initially earn 2,900 CTSI per block. After 6 months 25 million CTSI will be distributed to blocks following an exponential decay.
All rewards distributed come from an initial batch of 50 million CTSI, leaving the mining reserve with an outstanding balance of 200 million CTSI that will be released later to the Proof of Stake system. See more details about the mine reserve distribution here.
What is it about CTSI Reserve Mining that makes it special?
- Miners get a reward of 2,900 CTSI per block claimed. On average, each block is created every 30 minutes
- Users’ funds are safe while held on the staking contract, duly audited by SlowMist
- No slashing and no risks to the principal due to node malfunction or unavailability
- Rewards distributed directly to the user’s wallet, eliminating extra ETH transaction fees
As presented on the staking website, CTSI’s Proof of Stake system will be released in a variety of phases according to the below schedule.
CTSI Reserve Mining and its PoS system aim at bootstrapping the network of Cartesi’s side-chain, Noether, a highly optimized data availability oracle for temporary storage and an important part of Cartesi’s scalability stack.
The final phase of Cartesi’s staking will be CTSI’s innovative staking auction system, which brings a number of benefits to staking such as users being able to pre-define their staking rewards and opportunity costs.
- December 2020: Proof of Stake Mainnet launch
- 2021 Q1: Delegation System
- 2021: Noether, our optimized data availability oracle
- 2022: Innovative macroeconomy system with staking auctions
Cartesi’s Korean Ecosystem Links:
Korean Telegram Community: https://t.me/cartesiKR
Cartesi’s Ecosystem Links:
Telegram Announcements: https://t.me/cartesiannouncements
Discord (Development Community): https://discordapp.com/invite/Pt2NrnS