Indus: Incentivized Testnet of MOI
In this post you’ll learn more about MOI (My Own Internet) protocol’s Incentivized Testnet — Indus and know how to get involved.
Hello world 👋
Over the past few years, we have been building an L1 protocol where each user gets their own blockchain and the network has the intelligence to offer a different UX between a 10 dollars transaction versus a 1,000,000 dollars transaction. Apart from the ability to modulate trust based on the weight of the transaction, we have also developed an Identity Manager where users can provision themselves a Zero-Knowledge based BIP44 wallet used to interact with (almost) any blockchain. Also, we have enabled users to choose where to store their data by providing location transparency and allowing them to customize the replication factor. In parallel to all these functionalities, we also want the user to be in complete control of their assets and personalize value transfers without the need for a central / reserve currency.
In summary MOI leverages user’s context to personalize Identity, Storage, and Values. This, in essence, is the summary of MOI and the core capabilities it offers to users in the evolving digitally interacting world a.k.a. Metaverse.
While the personalized storage service was launched as MOI Bit in 2019, the sovereign digital identity software was launched as MOI ID in 2020.
The vision for a personalized internet, powered by MOI, is well carved out in this blog post by AK.
While humanity must be using digital to leverage the personalized nature of values and interact between each other with total trust, we are instead transacting based on the remnants of systemic trust a.k.a. currencies and living in a trust-deficit world — AK
Devs are loving MOI 🚀
It gives me a pleasure to recollect that MOI Bit was one of the first storage partner for Matic (now Polygon) with meaningful solutions built for real-world problems, such as the CourtLedger, which offered a simple, decentralized and tamper-proof solution for storing evidences in court proceedings.
On the other hand, MOI ID in conjecture with MOI Bit was used by a Tracy, the first blockchain based app with a privacy angle to contact tracing, and quarantine management.
Also, India’s first NFT marketplace accepting INR as payment for minting and purchasing NFTs uses MOI ID and MOI Bit. You can use it here.
Testing the mettle! ⛏
While these are some of the apps that took a stab at leveraging user’s context to build personalized solutions, we have seen a growing interest from many web3 builders in the web3 ecosystem. So, it’s about time we take MOI for a spin! In that direction, we are happy to announce an Incentivized Testnet from MOI: Indus.
Indus is a multi-phase incentivized Testnet that encourages public to come together, try out the MOI stack, and get rewarded for early involvement in our community.
While the Indus Testnet will be rolled out in the coming months over many releases, here is a simple roadmap in phases:
Roles of the validator node
Each validator node in the MOI network, including test network, ensures provenance is secured. Additionally, each node can provide two more additional services:
1. Storage service — Store end-user and application-specific files in encrypted format redundantly across multiple nodes in the network
2. Compute service — Execute complex instructions off-chain among multiple nodes in a Worker / Actor based model in the network
Each node is accrued MOI tokens as rewards for the services rendered across maintaining the ledger, storage and compute.
Reward schedule for storage service
Starting the month of April, each validator node gets the opportunity to submit storage proofs and get 10 MOI tokens as rewards in return, with new rewards halving every 3 months.
Reward schedule for ledger service
Starting the month of June, each validator node gets the opportunity to mint a Tesseract and get 2 MOI tokens as rewards in return, with new rewards halving every 3 months.
Schedule for compute service
The reward schedule will be announced soon after the 3rd rollout.
Total sum of rewards
In total, 263,320,000.00 MOI tokens are up for grabs by hosting upto 50,000 nodes offering storage and ledger services.
Testnet penalties 🐍
Penalties will be calculated at the time of Mainnet Sarga (a.k.a. Genesis) and applied on the accrued rewards:
Slashing schedule for ledger service
The slashing schedule for ledger service is of two types:
Slashing based on availability:
Each node’s uptime is calculated based on the number of Tesseracts minted over the Total number of Interactions assigned. Based on the uptime range, the rewards, are slashed at Mainnet Sarga as follows:
Slashing based on events:
With evidence collected at the time of event, slashing may occur as per the following schedule based on the type of the event:
Slashing schedule for storage service
Slashing storage service rewards is based on the node’s inability to keep up its availability.
Slashing based on availability:
Each node’s uptime is calculated based on hourly heartbeat. Based on the uptime range, the rewards are slashed at Mainnet Sarga as follows:
Apps building on the Indus Testnet 👷
Here’s a list of applications that are planning to deploy their application on the Indus Testnet:
1. Qiam (Islamic Finance): Qiam is the first principled fintech eco-system (marketplaces, platform & products) inspired by Shariah using blockchain technology
2. Guild Games (Gaming): GuildGames is building World’s Largest DAO for Gamers — that helps them Earn via Blockchain-based NFT games.
3. Aurum (DeFi): Aurum is a unique peer-to-peer lending platform based on precious metals.
4. Finets (DeFi): Finets are groups of individuals coming together to achieve their individual aspirations by unlocking the implicit trust in their social networks.
5. Finoverse (DAO): Finoverse is a digital decentralized platform enabling the mid and small sized service providers and professionals to improve service quality
6. MOI ID (Self Sovereign ID): Create Self-sovereign ID, and interoperable wallets powered by ZKP.
7. MOI Bit (Personalised Data Storage): MoiBit is a personalized decentralized secure storage network.MoiBit provides users complete ownership and end-to-end control of their digital information.
8. MOIverse (Metaverse and Digital Asset Marketplace): India’s first Digital Assets and Metaverse platform. Targets general public with traditional ecommerce experience. No crypto and no gas.
Become a validator 😎
We are excited to see you join the Indus Testnet and be part of the revolution in personalizing the Internet! If you are interested in hosting a node, please join our Discord server and feel free to ask questions in the # 🪔・validators channel.
The Indus Testnet requires far less energy to operate than traditional Nakamoto based systems. Thanks to our novel Proof of Context algorithm, you can run the node on a simple hardware such as the Raspberry Pi. This way, the future is not only personalized but greener.
MOI ❤ Sarva
PS: Big shout-out to the engineering team at Sarva Labs Inc., for implementing the MOI Pod client which we will use to implement the Indus Testnet. Kudos! 🙌
So what are you waiting for? Join our Telegram, Discord, Twitter communities and interact with us right away!
- MOI website: https://www.moi.technology/
- MOI Validators site: https://validator.moi.technology/
- MOI Papers: https://info.moi.technology/