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Sesameseed Launches Test Node on ICON

Preparations for the SEED rewards economy on ICON are underway

Sesameseed would like to take this opportunity to update the community on the upcoming integration of ICON into the SEED rewards economy. Recently it was announced that Sesameseed was approved as a grant recipient from the ICON Foundation in recognition of its community and innovation in the blockchain industry. This grant included a commitment to stake 1,000,000 ICX to Sesameseed for a period of 6 months.

Sesameseed takes great pleasure in announcing the launch of its test node on ICON. The ICON test node will run for a yet undetermined amount of time to ensure the node is operating correctly, and to allow Sesameseed to gather the needed data to structure the proper policy decisions for ICON rewards. Sesameseed is committed to maintaining a competitive rewards distribution on each of its represented blockchains.

During this test node phase, Sesameseed is encouraging community stake to the test node. ICX staked to the test node will not be eligible for SEED rewards, and ICX will not be introduced into the redeem value of SEED until the node has converted to a SEED node.

Sesameseed will announce the date for conversion of the ICON node from a test node to a SEED node. Once that transition occurs, Sesameseed will begin rewarding SEED daily to all community stakers in accordance with the SEED Minting and Distribution System. As well, ICX will join the redeem value, which means any SEED on any represented blockchain will be backed by a portion of ICX node rewards, in addition to node rewards from TRON, Ontology, and Harmony. As Sesameseed continues to expand, more blockchain tokens will be added to the redeem value.

The Community Can Still Contribute

Even with the ICX votes earned through the grant to Unifi, Sesameseed still requires votes from the community in order to become a Main P-Rep, produce blocks, and ensure the best rewards for SEED holders. ICX holders are able to vote for many different P-Reps with the same tokens. Rewards to voters are paid by the network itself, and not by the P-Rep, so voters receive the same rewards regardless of where they stake. This means the Sesameseed community is highly encouraged to vote for the Sesameseed test node, which will result in a more accurate assessment of node rewards on ICON and a quicker transition to SEED node.

Learn more about Sesameseed on our website. Connect with us on Telegram, Twitter, Reddit, Facebook, Instagram, LinkedIn, YouTube, and Medium.

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