Lovenet is up and running!

We are very happy to announce that IOV’s testnet, “Lovenet”, is ready to start on-boarding validators to our testnet.

We encourage validators to join our lovenet as soon as possible, as they can start to build a good quality score from the moment they become an IOV validator.

How can I be the validator of Lovenet?

Follow the procedure here, including completing the validator candidate application form, to join our testnet.

What about IOV validator reward program?

IOV will guarantee its initial validator set up to 5000 IOV tokens for up to 15 validators per month per validator for two years. You can get more details here.

What is the minimum number of IOV tokens a validator needs to buy? When does IOV token sale end?

All the IOV validators will have equal voting power and there is no minimum number of IOV tokens to hold to be a validator. However, even though we appreciate all the potential validators who participate on our testnet, we will have to go through the selection process to determine the IOV mainnet validator set. We want to start with a limited number of good validators with guaranteed rewards for them. We will use objective criteria for the selection process, and one criterion is the number of IOV tokens that a validator candidate holds. Therefore, we encourage all the validators to take some time to fully understand IOV’s economic model, which is quite different from other networks, and take advantage of the pre-sale round1 price of 0.09 euros per token. It is only open to validator candidates until September and then increases to 0.10 euros per token until mainnet launch.

More details are embedded here.