Proof of Steak: For Long Term $RAVEN Holders Only
Raven Protocol is building a network of compute nodes for the purposes of AI/ML training where speed is the key.
Dear Raven Protocol Community,
We recently announced the culmination of our work with Mozilla Builders. Alongside their support to becoming a leader in the DeAI (Decentralized AI) industry, we completed the implementations of Logistic Regression and Linear Regression. They both run on the Raven Distribution Framework and are excited for what lies ahead.
Testing the compute power from $RAVEN holders will be an interesting experiment. It’s as simple as leaving a browser tab open and we are curious how committed $RAVEN long term holders are. To prevent abuse, you must hold $RAVEN in a BEP-2 wallet to partake in the Proof of Steak program.
Step by step, we will grow the decentralized compute network. We will take this slowly and make sure AI/ML models are being trained correctly.
How the $RAVEN token works
Raven is creating a network of compute nodes that utilize idle compute power for the purposes of AI training where speed is the key. A native token is the key to bootstrapping a nascent network.
We want to incentivize and reward people all over the world to contribute their compute power to our network. Additionally, we will reward token holders (to be announced in the future phases) for running masternodes which will be responsible for orchestrating the training of various deep neural networks.
Our consensus mechanism is something we call Proof-of-Calculation. Proof-of-Calculation will be the primary guideline for the regulation and distribution of incentives to the compute nodes in the network. Following are the two prime deciders for the incentive distribution:
Speed: Depending upon how fast a node can perform gradient calculations (in a neural network) and return it back to the Gradient Collector.
Redundancy: The 3 fastest redundant calculation will only qualify for receiving the incentive. This will make sure that the gradients that are getting returned are genuine and of the highest quality.
Why You Should Stake $RAVEN 🥩🥩🥩
Show your support and commitment in securing a network of compute nodes that are utilized for the purposes of AI training where speed is the key. Stake RAVEN to help facilitate secure transactions that take place inside Raven Ecosystem. Receive a monthly reward on staked RAVEN
Staking Reward: 12% (1% monthly)
Staking rewards will have a monthly vesting period. Participants who satisfy all the requirements of the Proof of Steak program, will receive a monthly reward on staked RAVEN.
Raven Proof of Steak Terms and Conditions:
For the October 2020 staking period, stake your tokens by October 1, 2020 at 0:00AM UTC and keep them staked for the entire month until October 31, 2020 at 23:59PM UTC.
For the November 2020 staking period, stake your tokens by November 1, 2020 at 0:00AM UTC and keep them staked for the entire month until November 30, 2020 at 23:59PM UTC.
For the December 2020 staking period, stake your tokens by December 1, 2020 at 0:00AM UTC and keep them staked for the entire month until December 31, 2020 at 23:59PM UTC.
This iteration of the Proof of Steak program will run for the entirety of Q4 2020. We reserve the right to discontinue or amend it at any time for any reason.
We will be taking multiple snapshots daily to verify your staked balance. If for any reason you decide to unstake your RAVEN during the month, you will be disqualified. Only staked balances that have been staked the entire month qualify for rewards.
Rewards will be automatically be airdropped to eligible addresses at the end of the staking period after all results have been tallied.
$1.5M in $RAVEN burned makes those steaks more tasty 🔥🔥🔥
Raven recently announced a partnership with Spartan Protocol in which the Raven Protocol community burned $1.5M in $RAVEN to join the shield wall and earned $SPARTA tokens which listed on Binance.com.
This is a huge stamp of approval for Spartan Protocol to be the first major liquidity project on Binance Smart Chain. This is a huge stamp of approval for Raven Protocol because it puts us in perfect position to have RAVEN/SPARTA liquidity pools.
One could only imagine how fast and high raven will fly based on the significant burn and tokens locked up in staking ;)
Begin staking here!
Many thanks to the Thorchain team for their advice and inspiration on launching a staking program. Also, for sharing a fork of their front-end staking implementation. The Binance Smart Chain community is super helpful.
Raven Protocol: Q2 2019 Tech and Community Update:
https://medium.com/ravenprotocol/q2-2019-tech-and-community-update-4f836a9a1e97
Raven Protocol: Q3 2019 Tech project development Update:
https://medium.com/ravenprotocol/tldr-raven-stayed-heads-down-building-in-q3-2019-ae5f242dc15d
Raven Protocol: Q4 2019 Tech project development Update:
https://medium.com/ravenprotocol/happy-2020-an-important-update-from-the-raven-team-67b5e88e1b1d
Raven Protocol: Q1 2020 Tech project development Update:
https://medium.com/ravenprotocol/q1-2020-success-during-hard-times-3dcdbb0faba8
Raven Protocol: Q2 2020 Development and Community Update:
https://medium.com/ravenprotocol/q2-2020-the-raven-distribution-framework-solves-the-deep-learning-problem-that-mit-researchers-bc506816ab67
Raven Protocol Project Review:
https://cryptocalibur.com/portfolio-item/raven-protocol-review
Raven Protocol White Paper:
https://drive.google.com/file/d/1FAaVKkg_CjxMj-n1yHZc6ufcVDtOU1Ct/view?usp=sharing
OFFICIAL CHANNELS:
Official Email Address: founders@ravenprotocol.com
Official Website Link: http://www.RavenProtocol.com
Official Announcement Channel: https://t.me/raven_announcements
Official Telegram Group: https://t.me/ravenprotocol
Official Twitter: https://twitter.com/raven_protocol
Official Medium: https://medium.com/ravenprotocol
Official LinkedIn: https://linkedin.com/company/ravenprotocol
Official Github: https://www.github.com/ravenprotocol
Official #DeAI Discord: https://discord.gg/WF47ckd
