Razor Network
Published in

Razor Network

Razor Network — Mining tokenomics

Razor Network Alpha is set to go live on SKALE Network. Join us as a Validator!

We are happy to bring you the much-awaited announcement. The alpha version of the Razor Network will soon go live on SKALE Network on 1st September 2022 at 1 PM UTC, following successful security audits by reputed blockchain security audit firms and multiple testnet campaigns. With Razor Network contracts on SKALE, you can put those $RAZORs to good use and get rewarded for your contributions to the growth of the entire community.

If you are interested in becoming one of the validators and wish to know how to become one, then keep reading….

Becoming a Validator on Razor Network

The first thing about becoming a validator on the Razor Network is staking $RAZOR tokens. With a minimum of 2 million $RAZOR tokens in hand, make sure your device meets the minimum specification requirements, which are set pretty low at 16GB of RAM and a 4-core arm64 or amd64 architecture-based processor.

With both minimum staking and device requirement boxes checked, you are ready to become a validator once the network is live on SKALE.

Please keep an eye on our documentation at Staking | Razor Network. We will release the updated instructions soon!

No Node, No Problem. Become a Delegator

Wish to watch it before you take the plunge, no problem. Those who wish to participate in staking without longer commitments can still become part of the validation network and secure a portion of $RAZOR rewards.

Delegators can stake their $RAZOR tokens with any of the active validator nodes accepting stakes. There are no minimum token requirements for delegating.

Setting the Expectations for Mining Rewards

Now that you know what it takes to become a validator on Razor Network, you should also know what to expect regarding rewards. Initially, Razor Network will have a block time of 20 minutes, with a block reward of roughly 2000 $RAZOR, which may change depending on the governance and community feedback.

We have created a Mining Revenue Estimator available here. (Please note that it is an estimation sheet. Also, note that the network parameters, including block rewards, can be changed anytime.) make a copy of the spreadsheet, and replace the existing values highlighted in yellow to estimate your revenue.

Hope to see you staking $RAZOR soon!

Stake responsibly

Please note that running a staking node or delegating to the right staker is a big responsibility and must be done carefully. There are slashing penalties for various actions such as node going offline, misreporting values, not withdrawing tokens within appropriate times, etc. The penalties also apply to delegators, so please delegate to the right nodes! Please check the documentation for more details: https://docs.razor.network/docs/penaltiesandrewards/

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 working on creating the next-generation oracle system focusing on maximum game-theoretical security and fully permissionless complete decentralization.

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

Website | Twitter | Telegram| Discord

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store