Firma Station’s Restake Feature is Officially Live!
Hello. This is FIRMACHAIN.
After extensive beta testing, the Firma Station’s Restake feature is now officially live. Although we’ve briefly introduced restake in one of our previous G.E.F posting, this is a more detailed introduction and guide of the feature. Happy reading~.
Certain traits and conditions of the Restake feature can also be found in the link below so please take a look before reading through.
Please visit the link below for a more detailed user’s guide on the Restake feature.
▶ Restake(Test& Beta-service) Development Timeline
After some internal testing, the beta version of the Restake feature was launched in early September.
- Mainnet test (Round 1) : August 20, 16:00(GMT+8)
- Mainnet beta service launch (Round 25): September 3, 16:00(GMT+8)
▶ Restake Information
The following statistics are those from the 13th of October. Please note that the numbers (other than the reference date) are subject to change.
- Cumulative Rounds: 299 rounds
- Cumulative Restake Amount: Over 3 M FCT (3,772,396 FCT)
- Cumulative Fees Paid Out (Paid by the foundation during beta service): 265.52 FCT
- Cumulative Restakes: 20,811
* Over 100 restakes per round
▶ Key Takeaways from Restake Beta Service
Some small issues here and there were found during the restake beta service period and were dealt with accordingly. Including the aforementioned, the beta service period were mainly used to check technical issues and fix/update them. Only after a sufficient number of mendinga and updates did we finally come up with a date for the official launch of the feature. Following are some of the issues we have encountered during the beta service period.
- Issues
Time out occurring from LCD (Light Client Daemon) traffic increase. Three restake rounds were either skipped or did not function properly. The problematic rounds happened on the 7th of October (Round 227), 11th of October (Round 250) and 12th of October (Round 255). - Measures Taken
Enhanced monitoring and error fixing abilities to preemptively respond to issues that could arise in the future, the rounds that did not function properly were ruled out as exceptions. - Review
All of the issues we found during the beta service period were appropriately taken care of and no damages were caused to the users. We are now able to preemptively respond to any issues or problems that might arise in the future due to the enhanced monitoring and error fixing capabilities. Furthermore, we assess that the chances of any further issues or problems occurring has been drastically reduced after the aforementioned issue was taken care of.
* As a result, through the beta service period, we were able to enhance the stability of the feature and were able to establish a firm ground on which to launch the feature officially.
▶ Restake Official Launch Timeline
The official Restake feature is offered starting the Firma Station application v 1.0.15. Users of Firma Station must update their application to v1.0.15 from their respective application marketplace before using the feature.
Additionally, as per our announcement in the previous G.E.F posting, with the official launch of the Restake feature, we could register a governance proposal to use the funds in the community pool in order to cover the transaction fees for Restake.
Our journey to become a comprehensive utilitainment platform continues, so please keep posted.
Thank you.
For more information about FIRMACHAIN, or partnership inquiries, please contact us at contact@firmachain.org. Those who wish to join the FIRMACHAIN team, please contact us at info@firmachain.org.
About FIRMACHAIN
FIRMACHAIN originally aimed to transfer all paper based social and legal activities onto the blockchain to introduce transparency and prevent document tampering and forgery. Maintaining the fundamental value of trust, the FIRMACHAIN team is now turning its gaze to becoming a comprehensive blockchain platform. Our goal is to provide business entities and FIRMACHAIN holders with useful blockchain based services that are useful yet fun to engage with thereby satisfying the team’s goal to become a ‘Utilitainment’ (Utility + Entertainment) platform.
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