Frequently Asked Questions | Crust Mainnet Launch
Since announcing our plans to launch the Crust Mainnet, community members have had a number of great questions. Let’s check out some of the more frequently asked questions.
What is the mainnet launch time and stake ratio?
The mainnet launch plan and economy whitepaper v1.3.0 have been announced on the official website. The official launch time will be at the end of August or early September. According to the economic parameters set in the economy whitepaper:
β is the weight for storage resource；1+α is weight for meanful data. The design of X is divided into two phases in the system. In phase 1, The formula is:
*X: storage power
*M: meaningful storage data (TB)
*Z: remaining storage resource (TB)
Meaningful storage data M means the data comes from users by order in the storage market. Remaining storage resource means storage spaces other than meaningful data. It should be noted that in the calculation storage power of meaningful data, the α coefficient needs to be delayed for three months to take effect.
When the network starts, we set β=1, which means that 1 CRU will be staked to 1 TB.
When the mainnet launches, can we directly migrate the assets of the preview network?
After the mainnet launches, the CRU tokens of the preview network need to be transferred back to the ERC20 chain, and then mapped to the mainnet. Please follow the Crust Wiki and official account tutorials, we will publish the corresponding tutorials.
Can tokens on exchanges be automatically mapped to the mainnet tokens?
Different exchanges proceed differently. If the exchange does not support token direct mapping to the mainnet, the user needs to withdraw the token to the wallet and then map. Please pay attention to Crust’s follow-up announcement.
Is there no profit in the first three months after the mainnet launch?
According to the mainnet launch plan, nodes can be deployed on August 12, and the mainnet will be officially launched at the end of August or early September. Block profit will be generated from the blocks which start from the mainnet.
What is the cost of file transfer after the mainnet launches?
Referring to the economy whitepaper v1.3.0, after the storage market price mechanism is triggered, files with high Tips will be taken first, and the price curve will be maintained in a reasonable range based on the throughput of the storage market.
Can the locked CRU also be staked?
Users who hold CRU18 and CRU24 belong to the early investors. CRU18 and CRU24 will be unlocked in 18 or 24 months after the mainnet launches. Locked tokens can still be staked.
Is the daily output of CRU fixed in the mainnet?
Referring to the economy whitepaper v1.3.0, the daily output of CRU is fixed for one year, and will not reduce production. The total issuance of the first year is 5,000,000 CRU, from the second year onwards, it will be reduced by 12% each year, and will continue to decrease until the inflation rate of the whole network reaches 2.8%.
Will the Mainnet and Preview Network running at the same time? Will the activities of the existing Preview Network (such as Profit Data) continue operating?
The mainnet and the preview network are running at the same time and will remain as two independent networks. The activities on the preview network will continue working on the preview network.
What is the token output of the Mainnet and Preview Network?
Mainnet: The total issuance of the first year is 5,000,000 CRU, daily output is about 13,698 CRU.
Preview Network: Crust Maxwell preview network has reduced production from May 5, and after that, the daily output of the preview network is 1,500 CRU.
After the mainnet launches, when can candy from previous activities be redeemed?
Candy can be redeemed at Maxwell after mainnet launches. There will be a Candy Claim module and users can exchange Candy to CRU.
The preview network is now undertaking a large number of applications with a large amount of data. After the main network launches, how will it be maintained?
Crust will migrate meaningful data to ensure effective storage of application data.
The total issuance of the first year is 5,000,000 CRU after mainnet launches, will these CRU be distributed according to 25% for community, 10% for business promotion, 25% for investment institution, 20% for team reward, 20% for foundation?
No. These CRU will be distributed when the block is generated.
Will all 20,000,000 CRU tokens be in circulation after mainnet launches?
The number of tokens at network launch: 20,000,000 CRU
Mainly distributed to the following aspects:
5,000,000 CRU Community development (25%)
2,000,000 CRU Used for Crust ecological construction (10%)
5,000,000 CRU Transfer to a professional investment institution (25%)
4,000,000 CRU Reward the technical team (20%)
4,000,000 CRU Foundation reservation (20%)
The tokens allocated for investment institutions and team rewards will be locked.
How about the participation of investment institutions? What pricing method is used for pricing and transfer of these CRU?
Crust Network previously completed Series-A funding. Investors mainly included NGC Ventures, AU21 Capital, Bitscale Capital, Chain Captial, DFG, HashCIB, IOSG, KR1, KNS Group, Lotus Capital, Origin Capital, SNZ, Bitrise Capital, Consensus Lab, Waterdrip Capital, Taihe Capital, and CryptoDiscover. The seed round strategic investor Chengdu Wuji Chain Technology continues to invest. The 25% will be distributed via CRU18.
What are the specific technical implementation steps for data storage and retrieval? Will encryption and decryption be involved, and the encryption and decryption methods adopted? Does storage involve data fragmentation or sharding?
The bottom layer uses IPFS for storage and retrieval, involving encryption and decryption. The encryption method is the seal method (asymmetric encryption technology) inside SGX; The data fragmentation and sharding are implemented by IPFS.
After the mainnet launches, will CSM and CRU be on the mainnet together? Can CSM be staked and exchanged for CRU?
No, CSM is a native token on the Shadow network, and it is also a storage market token on Maxwell preview network. Users can stake CSM for stored files in the “Profit Data” activities to obtain CRU profit, but CSM cannot be exchanged for CRU.
Will there be any storage activities and other plans to increase applications and reputation after the mainnet launches?
Yes, Crust will continue to promote the market and application scenarios of Crust, please stay tuned.
Now the amount of storage orders is very high. Will the price go down after mainnet launches?
Now there is network congestion in the preview network since a large number of orders are placed at the same time due to the “Lucky Order” and the “Profit Data” activities, which triggered a price adjustment mechanism, so the cost of storage order is relatively high. The storage market will be adjusted according to the price adjustment mechanism curve shown in the economy whitepaper v1.3.0, and the price will naturally fall back to the normal range after a period of time.
Now the number of copies has grown slowly after placing an order. Will it be improved after the mainnet launches?
The number of validators and storage capacity are limited in the preview network. With the advancement of applications on the mainnet, more nodes will settle in. At the same time, the price adjustment mechanism has been activated. The growth of the number of copies will be improved.
Can Maxwell’s computing power be migrated to the mainnet? Or does the mainnet need to be re-encapsulate?
After the mainnet launches, Maxwell is still running, and they are two independent networks. Therefore, if users want to participate in the mainnet node construction, you need to re-encapsulate and stake. As Crust data encapsulation speed is fast, it has little impact on nodes.
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