Razor Network Incentivized Testnet Phase II, Going Live
The second phase of Razor incentivized testnet with 1M $RAZOR rewards will go live on 27th May 2022 @ 1 PM UTC.
(Edited: 27th May 03:23 PM IST)
Razor Network team would like to thank our dedicated community for stepping up and participating enthusiastically in making Razor Network better by participating in the Incentivized Testnet Phase II. We received an overwhelming response to the form we put out.
While most of you have read our previous posts about the program before applying, we would like to reiterate the structure of incentivized testnet once again.
Structure of Razor Incentivized Testnet Phase II
1. The total rewards for this phase will be 1,000,000 $RAZOR tokens on Polygon Mainnet.
2. At the start of the program on 27th May 2022, 1 PM UTC, all the selected participants will be sent a fixed amount of TESTNET RAZOR tokens on the SKALE V2 testnet. Please note that the recipient’s address will be the same as the address entered while filling out the interest form.
3. The participants are encouraged to start running nodes, staking, or delegating on 27th May 2022, 1 PM UTC.
4. After the incentivized testnet period on 24th June 2022, 1 PM UTC, a snapshot of the accounts and their TESTNET $RAZOR token balances will be taken.
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 percentage profit in terms of 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.
NOTE: TESTNET $RAZOR has no real-world value and is created only for the purpose of testing.
The reward structure, dates, and other information may change due to the evolving nature of the testnet. Please follow the #validators channel on our Discord channel for the latest updates and further information.
**Please note: If you were running a node before the relaunch, follow the steps below to restart your node/delegation
Stakers:
- Stop the container and delete the image, run the following commands in order to do so:
docker stop razor-go
docker rm razor-go
docker rmi razornetwork/razor-go:v1.0.3-incentivised-testnet-phase2-patch
rm “-rf $(echo $HOME)”/.razor
2. Restart from scratch, follow docs for staking using: https://docs.razor.network/docs/Stake
Delegators:
Delegators can directly import the new testnet $RAZOR token into their wallet and start delegating on Razorscan.
Quick Links & Information
Incentivized Testnet documentation: https://docs.razor.network/docs/incentivized-testnet/intro
Staking Tutorial: https://docs.razor.network/docs/stake
Delegating Tutorial: https://docs.razor.network/docs/delegation/delegate
Add SKALE network to metamask: https://docs.razor.network/docs/stake/#add-skale-network-to-metamask
SKALE Testnet $RAZOR contract address: 0xDc342De801De342EdE013C7E6e7a78Fa4f548041
About Razor Network
Razor Network is a blockchain agnostic, truly decentralized Oracle platform for Decentralized Finance. Razor Network is a blockchain agnostic decentralized oracle network focusing on Maximum game-theoretical security, complete decentralization, and being fully permissionless.
Stay updated with the latest developments by following us on GitHub and Telegram updates.
