Razor Network
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Razor Network

Razor Network Community Update: June 2022

Hello Community! It is time for our monthly update on the progress made in June. Razor Network is ready to launch its mainnet, which will happen sooner than you expect. Last month was eventful and exciting as we developed multiple partnerships and concluded the second phase of the Razor Incentivized Testnet program.

Bolstering the Capabilities of Razor Decentralized Oracle Network

As one of a kind completely decentralized protocol-agnostic oracle network for DeFi, Razor Network’s strength lies in the diversity and reliability of its validator network. More the number of reputable validators, better the accuracy and resilience of the oracle feed, and the last month witnessed a significant improvement in that space.

Razor Network onboarded three new institutional validators viz., 01node, Validatrium, and Terminet. All three players are known for their state-of-the-art infrastructure, support for multiple leading protocols, and Web3 applications built on top of them. Including new validators also provides numerous options for the Razor community members to delegate their $RAZOR tokens while enhancing the capability of the oracle network to provide censorship-resistant, reliable real-world data streams to dApps across protocols.

Incentivized Testnet (Phase-II) Ends, 1M $RAZOR Distributed.

The second phase of incentivized RAZOR testnet on SKALE network successfully concluded on June 24, 2022. The community enthusiastically participated in the program, helping the team conduct a thorough protocol test before proceeding further with the mainnet launch. Razor Network is happy to announce that the testnet’s performance has exceeded the initial expectations, performing flawlessly to a great extent. With a healthy split between stakers and validators, the testnet proposed correct blocks at every epoch and performed well during multiple stress tests conducted by the developers in collaboration with the participants.

As announced at the beginning of the program, 1,000,000 $RAZOR tokens were distributed to eligible participants based on the snapshot of TESTNET RAZOR balances in participating wallets on June 25, 2022. The reward distribution was split across two categories, one with participants having TESTNET RAZOR balance less than that of the initial airdrop, receiving 10% of the rewards, while the second category of participants with TESTNET RAZOR balance more than what they initially received, getting 90% of the allocated $RAZOR as a surplus reward.

With the successful conclusion of the testnet program, Razor Network is preparing for the mainnet launch soon, following a series of security audits currently in progress.

RazorScan Gets Multiple Updates

On the technical side of things, the RazorScan dashboard interface received a few enhancements, including a token page and access to new charts for participants.

Apart from these developments, community members can now access their staking information, including total stake over time. This month, we continue to work on getting the mainnet ready for phase-I launch and simultaneously expand our reach by onboarding new partners. Stay tuned to our official community channels to keep yourself updated about the developments as and when they happen.

About Razor Network

Razor Network is a blockchain agnostic, truly decentralized Oracle platform for Decentralized Finance. We are working on next-gen oracle systems. Razor Network is a blockchain agnostic decentralized oracle network focusing on Maximum game-theoretical security, complete decentralization, and fully permissionless.

Stay updated with the latest developments by following us on GitHub and Telegram updates.

Website | Twitter | Telegram | Discord

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