Razor Community Updates — April 2023
TL;DR: Razor Network has observed an increase in staking, with 47.2% of the total circulating supply staked. RazorScan has addressed a network switching issue and integrated RainbowKit with MetaMask support. Users can now view their sFuel balance on RazorScan.
The Razor Network Oracle has registered a substantial quantity of staked $RAZOR tokens, amounting to 285.55 million. This figure corresponds to roughly 47.2% of the total circulating supply. The network APY at the time of writing is 19.54%, with the latest percentage available at https://razorscan.io/staking. Users must bridge their tokens from Ethereum to the SKALE blockchain to stake on the network. A video guide for this process can be accessed here:
The razorScan user interface has resolved a technical issue related to switching networks. As a result, users can now connect to the Razor Network using MetaMask without any hindrances. This enhancement is expected to improve the overall delegator experience and efficiency when interacting with the platform.
Moreover, RazorScan has integrated RainbowKit, initially providing MetaMask support. RainbowKit delivers valuable information to users, such as recent transactions and contract calls. Further wallet integration is anticipated in the near future for RazorScan, expanding the platform’s range of compatibility. Additionally, users can now view their sFuel balance on RazorScan upon connecting their wallet, improving user accessibility and convenience within the Razor Network ecosystem.
It is worth mentioning that a new release of the Razor node is currently undergoing internal testing. This updated version includes code cleanups, code refactoring, and the implementation of a generic function designed to facilitate a retry mechanism for contract calls. More in-depth information regarding this release will be provided in the subsequent community update as it becomes available.
About Razor Network
Razor Network is a blockchain-agnostic, truly decentralized oracle platform designed to meet the diverse requirements of Decentralized Finance. At Razor Network, we are creating the next-generation oracle system focusing on maximum game-theoretical security and fully permissionless complete decentralization.