Razor Network
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Razor Network

Razor Network Incentivised Testnet: Program Structure

500,000 $RAZOR as testing rewards.

We reached out to the Razor Network community on Twitter last month announcing our Incentivised Testnet program, and we have received an overwhelming response so far. This post gives a high-level overview of the Razor Network Incentivised Testnet.

The program will run in phases; the first phase will run from 27th January 2022, 1 PM UTC to 27th February 2022, 1 PM UTC. The participants for this phase have been selected from the interest form that we published. More phases may come after this, so follow us to stay updated.

The structure of the Incentivised Testnet is as follows:

  1. The total rewards for the first phase will be 500,000 $RAZOR tokens on Polygon Mainnet.
  2. At the start of the program on 27th January 2022, 1 pm UTC, all the selected participants will be sent 100,000 TESTNET RAZOR tokens on Polygon Mumbai testnet. Please note that the recipient address will be the same as the address entered while filling out the form.
  3. The participants are encouraged to start staking or delegating as soon as they receive the TESTNET RAZOR tokens.
  4. After the incentivised testnet period on 27th February 2022, 1 PM UTC, a snapshot of the accounts and their TESTNET RAZOR token balances will be taken.
    VERY IMPORTANT NOTE: Only the address submitted in the form will be considered for the snapshot, so make sure to unstake and withdraw your TESTNET RAZOR tokens into the submitted address well before the snapshot deadline. There are no exceptions to this.
  5. Based on the surplus TESTNET RAZOR tokens that each address holds, rewards will be calculated based on the total rewards and the performance of the other participants in the phase.
  6. The calculated rewards will be sent to the eligible accounts at the end of the phase.

Please note: that the reward structure, dates, and other information may change due to unexpected bugs and other unforeseen circumstances. Please closely follow #validators channel on our discord.

Testnet RAZOR contract address: 0xA792597Ec3C7C02CBf911A7131ceE46B3a002d97 (please note testnet RAZOR have no real value and are created only for purpose of testing, add this to your Metamask on Polygon Mumbai Testnet to participate in the testnet)

We have also written easy-to-use documentation so that participants can get started with Staking or Delegating their testnet tokens. Participants can find the tutorials for staking and delegating here:

  1. Staking: https://docs.razor.network/stake/
  2. Delegating: https://docs.razor.network/delegate/

About Razor Network

Razor Network is a blockchain agnostic, truly 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 for updates.

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