Razor Network Incentivized Testnet, Phase II Now Ready!
1 Million $RAZOR testing rewards.
We are happy to announce that the development of Razor Network is going well. In line with the previous community announcements, we are now ready to deploy the second phase of the Razor Network incentivized testnet.
The latest phase will be operating on the SKALE Testnet network. We are bracing ourselves for our active community’s flood of participation requests based on the overwhelming response during the first phase.
Joining the Razor Network Incentivized Testnet (Phase II)
To enter the second phase of the incentivized testnet program, users will have to first register themselves by filling out this form — https://forms.gle/Gr8mefHvm4iGohZV9 .
Soon after the form is submitted, the selected candidates will receive an email guiding them through the KYC process. Upon completion and approval of the KYC, they will officially become part of the program. All the participants will get TEST $RAZOR tokens airdropped to the declared wallets, ready for staking.
With the TESTNET $RAZOR tokens, users can either choose to stake them and operate a node or delegate it to a staker.
The testnet tokens will be distributed equally among all participants, and just to make the program a bit more exciting, we will be offering more significant rewards to those who make the best use of TESTNET $RAZORs on the SKALE testnet.
Incentives for Testnet Participants
We have set aside a total of 1,000,000 $RAZOR as rewards for testnet participants. The total rewards will be proportionally shared between the eligible participants based on their efficiency in utilizing the testnet tokens.
At the beginning of the incentivized testnet program, each participant will receive a specific amount of TESTNET $RAZOR tokens on the SKALE testnet, airdropped to the wallet address declared in the application form. They can stake or delegate these testnet tokens to earn rewards in TESTNET $RAZOR, which needs to be withdrawn to their submitted address before the snapshot deadline, which will be shared in our following communication.
The snapshot of all the participating addresses will be taken soon after the deadline to calculate surplus TESTNET $RAZOR in each account. The rewards, in $RAZOR, will be calculated for each participating address based on the total rewards and performance of other participants during the program.
We will be paying out the calculated rewards to all eligible accounts as soon as the program ends.
Note: As the entire program is designed to test the Razor Network infrastructure, we can encounter unexpected bugs or other unforeseen circumstances that may lead to last-minute changes in the reward structure, dates, and other information. To keep yourself updated about any possible issue, please follow #validators channel on our discord.
Our TESTNET $RAZOR: Please note, TESTNET RAZOR has no real value and is created only for the purpose of testing.
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 for updates.
