Monthly Update — May 2022
Hello Glitchers!
Welcome to another monthly newsletter from Glitch HQ. The May Newsletter has finally landed, and there’s a lot to review and to look forward to as we continue to develop GLITCH — a layer one blockchain ecosystem that aims to disrupt the inefficiencies of today’s current blockchain infrastructure.
Let’s dive right into it.
April Recap
Technology
Stake GLCH, receive GLCH
Time is running out! With the GLCH rewards pool on Ethereum at capacity and the rewards pool on Binance Smart Chain at 99%, there isn’t much time to start earning before the campaign ends in late June. Users may utilize the Glitch Bridge to move their assets to the BSC chain if their holdings are on the Ethereum chain. To stake, click here.
Once the rewards campaign has finished, users will be able to unstake their tokens. Note that there will be a 5-day cooldown period for the pool on Ethereum and a 3-day cooldown for the pool on BSC — 1M GLCH max withdrawal per day, as per guidelines set by AllianceBlock.
Token relock
On April 19, Glitch Finance relocked 10.67M GLCH for three months via UniCrypt, equal to 12% of the total supply and 61.5% of the tokens remaining to enter circulation. To verify on UniCrypt directly, click here.
- Marketing, Bounties, Contingency: 5,599,324.59 GLCH
- Treasury: 2,868,701.17 GLCH
- Team: 2,206,693.67 GLCH
Technology infrastructure progress
The team is working on additional upgrades to the testnet v.2 and developing the mainnet v.1.1 and its products for release.
Testnet v.2: The initial development of the GRC-20 token standard and smart contracts MVP is complete. We have moved onto the QA stage, where our internal team tests for known and unknown bugs.
The browser-extension wallet upgrades on testnet are progressing well. Users will be able to expand the wallet from the extension app to a new window. Users will also be able to connect their wallets to decentralized applications (dApps) in the future. Initial UX/UI design and development for this is complete, and QA testing for both items is in progress. View the latest screenshots shared last week by clicking here.
Mainnet v.1: The team has been developing, monitoring, and internally testing the GLITCH mainnet v1.1. The Explorer is in the QA testing and bug fixing stage.
Marketing & Community
Last month, we addressed a handful of community questions. We wanted to thank everyone again for their ongoing support as we progress through the GLITCH development process.
On April 20, Diego, our CTO, and the Glitch Marketing Team took the stage at the last AMA and discussed expectations for Phase III. To watch the session, click here, and to read the recap, click here.
The team had also completed another round of website updates, including the roadmap breakdown, team, community, and FAQ pages. Additionally, the Glitch Careers page was launched as a separate update. Yes, we’re hiring! To see all of the open roles at Glitch and their requirements, click here. If you’re qualified and willing to put in the work, we’d love to have you on the team.
As the development team works on the network, the marketing team will continue to prepare for the launch of Phase III through organic content creation, external community-building activities, and more. We’re strategizing digital marketing growth hacking for Phase IV, where we know most of our users will enter the ecosystem.
May preview
Technology
Last month, we were heavily focused on testing the upgrades to the browser-extension wallet and explorer. As far as May goes, the same will continue with a focus on developing the core chain and ensuring all mainnet validator requirements are finalized. We want to start sharing as much information as possible around the mainnet requirements for node operators, so sit tight — it’s coming!
In terms of the upgraded Explorer, we’re working to integrate it with the mainnet and preparing it for release. Internal QA is still in progress and will continue with no blockers, due to be released next month.
The Phase III roadmap breakdown will be updated within the week to reflect current development progress, so we urge you to keep a close eye out. We will do our best to update it more frequently.
Marketing & Community
Glitchers, great news! The official Glitch Protocol Disord is live! We have big plans for this discord server, and it will act as a primary channel for communications. Glitch leadership, technology, marketing, and operations team members are on Discord ready to answer your questions and get more involved with the community. If you’re an active Glitcher and want to get involved in community discussions, AMA events, future developer webinars, and more, we urge you to join ASAP.
There is currently a $1,000 invite competition for grabs across five winners — invite as many friends interested in DeFi to the server by May 13. First place will receive $400, second place $300, third place $200, and fourth and fifth place will receive $50. All rewards will be paid out in GLCH.
On May 6th, we had our successful Discord launch AMA event with the marketing team, where we discussed the latest developments and all the features, channels, and plans for the official Discord server.
Please keep your eyes out for increased content on our social channels. Much new information is coming soon. Stay tuned for more.
Thanks to everyone for the ongoing support. Until next month,
— Team Glitch
We’re Hiring
We’re hiring qualified candidates for FT roles across marketing, operations, and engineering. If you’re a talented DeFi enthusiast, help us take Glitch to the next level. We’re looking to fill these positions very quickly. Search out our open jobs here and apply today!
About Glitch
GLITCH is a blockchain-agnostic super protocol explicitly designed for trustless money markets and decentralized financial applications (dApps). GLITCH solves the expensive fee structure of other blockchain platforms while simultaneously rewarding all ecosystem participants and guaranteeing low network fees through a unique revenue-sharing model. Glitch plans to incorporate token wrapping bridges, where dApps can run more efficiently, all in service of Glitch’s ultimate goal: to become a cornerstone of blockchain infrastructure.
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