Sitara — Stafi’s incentivized testnet is around the corner!
Stafi’s Incentivized Testnet, Sitara, is an upgraded version based on the public testnet Seiya. Since the public testnet Seiya on July 1, more than 121 nodes have joined in. The Polkadot Telemetry tool shows that the number of Seiya nodes ranks 3 behind PolkadotCC1.
There are 120 validator seats in Seiya testnet but the number of applications is increasing. Meanwhile, the block height has reached 237530. All functions work normal and no obvious problems have occurred.
https://telemetry.polkadot.io/
The duration of Sitara Incentivized Testnet will last about 1 month with 500,000 FIS (0.5% of total supply) as rewards for validators!
Objectives
In our current plan, Stafi’s Incentivized Testnet operation will be divided into two stages. During the first stage, some pre-launch tests of the mainnet will be conducted in order to assess the robustness of the Stafi Chain and to get ready for the rollout of StakingContracts. In the second stage, we will carry out tests on StakingContracts to make sure they are secure enough. Please note that many incentivized competitions will be held in the second stage for different Staking Contracts with varied development cycles.
Unlike public testnet Seiya, the Incentivized Testnet will run for a fixed period of time with FIS rewards in place. The goal is to incentivize validators who made outstanding contributions to the network during the testing period. Seiya, though without reward, will still be in operation and iteration. The competitions in the incentivized Testnet will be conducted on the Seiya Testnet. Therefore, it is highly recommended to join Seiya first.
General Design
Incentivized testnet Sitara is an interim test before Stafi’s mainnet launches in the coming weeks. There will be multiple tasks in the first stage designed for validators, and whoever completes the tasks will be eligible to earn rewards.
Stage 2 will have two phases. In phase 1, validators will berequired to complete the security test of Stafi Chain, and the rewards will be distributed on a first come first serve basis. In phase 2, a staking competition will be conducted, and the top 50 validators with the highest delegation will be given rewards.
Please fill in the form before 23:59 (UTC+8), July 19th. The first 300 registrations will help us with the test and earn FIS rewards. You can also join our validator group, where find out everything about the incentivized testnet.
Details
Stage 1
Validators will need to complete some basic tasks during this stage, such as node synchronization, on-chain identity registration, validator nomination, rewards claiming and transferring, etc. The main purpose of this stage is to test the basic functions of the Stafi chain. After all basic tests are completed, Stafi will conduct an upgrade to the testnet that requires the assistance of validators. It is to test the smoothness of the responses and collaboration of the community.
Rewards will only be given to participants who have completed the tasks. Some tasks will have a limit to the rewards. Meanwhile, we have a mentor program — validators who help others will also be rewarded. Please note that the Stafi team has the ultimate discretion on which validators shall be given the mentor rewards based on our assessment.
We will publish the specific tasks before the incentivized testnet launches. Please check our testnet documents, which will be updated from time to time and shared to the validator group. Please join our validator group.
The reward during this stage accounts for 31% of the total reward.
Stage 2, Phase 1
Advanced tests will be conducted during this stage, such as the ability of validators to control their nodes. Validators will be rewarded by maintaining a high uptime of their nodes or introducing sentinel nodes. The rewards will be limited during this stage and the latecomers won’t be rewarded.
Meanwhile, other approaches, such as completing node scripts and monitoring CPU, memory, node data synchronization and other information — is also an essential part of this phase. Report any abnormalities while testing! We will announce specific tasks later, please join our validator group.
The tasks at this phase are followed by those of Stage 1 and the duration period for this phase is 2 to 3 weeks. As for the rewards in this stage, it accounts for 25% of the total rewards.
Stage 2, Phase 2
A staking competition will be conducted, and the top 50 Stakers will be rewarded. If you are familiar with the NPoS mechanism of Stafi, you would know that you can outStake others by becoming a validator faster, re-staking your rewards more frequently, maintaining a high and stable uptime, etc.
Besides, we allow Claim initiated by users who get StakingDrop on Incentivized Testnet. That is to say, the rewards from Claim can be used to nominate validators and nominated Stake will also be calculated in the overall Stake. Validators can ask their users to delegate tokens to them so they can all get a lead in the testnet.
Please note that the nominators will not be rewarded (since they already received the StakingDrop). Validators can earn nominations by offering tools for users, generalize Staking derivatives to their users, etc.
Phase 2, the competition, will be held simultaneously with Phase 1, and it will last 2 to 3 weeks. The rewards account for 44% of the total rewards.
Reward Criteria
The criteria for Stage 1 and Stage 2 Phase 1 are mainly based on the sheer completion of tasks. As for mentor rewards, we will observe the comprehensive performance of validators in our community.
Phase 2 of the second stage is a staking competition and validators with the highest stake will win. The specific criteria will be released subsequently. The entire Incentivized Testnet will last for about 1 month.
Rewards Distribution
Rewards will be issued after winners complete KYC verification.
In order to make the distribution gradual and ensure a healthy secondary market after FIS listing, it will take 3 months after the conclusion of the Incentivized Testnet to distribute all rewards. During that period winners will be able to claim an equal portion every day from day 31.
How To Join? Get started.
Please fill in the form before 23:59 (UTC+8), July 19th. The first 300 registrations will help us with the test and earn FIS rewards. You can also join our validator group, where find out everything about the incentivized testnet.
About Stafi Protocol
Stafi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through Stafi and receive rTokens in return, which are available for trading while still earning staking rewards. FIS is the native token on Stafi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the Stafi chain, mint & redeem rTokens.
Website: www.stafi.io
Twitter:@Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord:https://discord.com/invite/jB77etn
