Monthly Update — November 2022
November has arrived. Last month saw the completion of Phase III: Von Hayek and the launch of Phase IV: Bellerophon. With the new phase in full swing, the first deliverable on the roadmap breakdown is complete. Progress is ongoing in developing the native GLCH bridge and migration process and the revenue-sharing MVP. We’ve had a month jam-packed with updates, and we’re working on delivering the core protocol functionalities.
There’s plenty to discuss. Let’s begin.
October Recap
Glitch GitHub: GLITCH’s public GitHub is now available to access. The GitHub showcases a snapshot of the one that the team uses internally. The team plans to add new commits frequently after proper testing and code reviews.
Technology Infrastructure
Mainnet: 10 external validators can now verify blocks on the GLITCH mainnet. Are you interested in becoming a mainnet validator? Learn how to get started by viewing the Mainnet Validator program.
Testing: Performance testing is in progress using an internally built tool that’ll go beyond simple QA and into more complex internal backend stress testing. Regarding Kurtosis stress testing, the technical development team found that the initial stress testing for this phase could progress using an internally built tool. The team would best leverage integration of the Kurtosis framework in the future as the protocol complexity increases with the subsequent iterations.
Native GLCH Bridge Migration: The nGLCH bridge will enable users to migrate their GLCH to the native Glitch currency. The design process is complete, and development is progressing well. We released an in-depth look at the designs here. The bridge is currently the highest priority in terms of growth, with more details on the process to come as the team plans a safe migration.
Developer Documentation: The EVM developer document is now available. The team is currently planning the Glitch Blockchain Core Functional Requirements for release.
Glitch Bridge: The Glitch Bridge between ETH and BSC networks has been fixed, improved upon, and redeployed. Alongside this, we released the full report addressing the recent exploit on the Glitch Bridge infrastructure. Since the occurrence, the team has finalized and implemented a solution that increased security.
Additionally, the team pursues legal action against the attacker via the relevant channels. Regarding the GLCH tokens minted in the exploit, following the upcoming migration to the network’s GRC-20 standard, the total supply shall remain at 88.88M nGLCH tokens, confirming a hard cap on the total supply. Read the full report on Medium.
Marketing and Community Updates
Last month, the team held several AMAs in the regional Glitch Indonesia and Glitch Africa communities. Check out the recording of the latest global AMA on the official Glitch YouTube channel and read up on the key highlights here.
We’ve made some changes to the Glitch Community Advocate Program. The updates include a new onboarding process, more significant rewards, and other improvements. Check out the full details in the update on Medium. The team plans to expand the program at the end of the year, and we encourage interested individuals to apply. Current applications will be held until the end of the year, after which interviews will be on a first-come, first-served basis.
The marketing team continues to work alongside the development team to understand which existing partnerships and integrations should be prioritized for activation first. Engaging with these partnerships will play a critical role in developing parts of the technology, feeding into the broader marketing strategy, and increasing awareness. This will be a core focus of the marketing team over the coming months.
Thanks for your continued support. We look forward to executing our future campaigns and continue spreading the word on GLITCH. In the meantime, here’s another preview of the promotional explainer videos we’ve been working on.
November Preview
“Trust the process. Enjoy the journey.”
Phase IV: Bellerophon is the primary catalyst of the GLITCH blockchain in terms of technology deliverables. Once delivered, developers can deploy their contracts on the mainnet, and users can begin utilizing dApps built on top. Following the EVM developer document, the team’s core priority is the development of the native GLCH bridge to migrate everyone over to the native Glitch chain and the revenue-sharing MVP. Other than that, we’re working on compiling the Glitch Blockchain Core Functional Requirements for release. Developers, we’re getting ready for you!
“It’s great to be on track to deliver a mega L1 blockchain. We’re excited to continue delivering on the roadmap and we’re confident that GLITCH is on the right track.” — Sean Ryan, CEO, Glitch Finance.
Stay tuned as we progress on our journey. Follow us on social media, and thank you for your 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 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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