Halting our validators on Loom Network and BOS
We have some news to share with our community today. After some consideration, we have decided to halt our validators on Loom Network and BOS. Since this is a big decision, we wanted to communicate this clearly to our community members.
Why we supported these projects
Loom Network was one of the first projects we ever supported. The Loom team was keenly focused on becoming the Layer 2 of choice and onboarding as many applications as possible. Their approach indeed attracted much interest and was considered the go-to scalability solution on Ethereum. The Solidity education platform CryptoZombies was a huge hit with the blockchain community. We wanted to help them maintain their pace of attracting developers and have been supporting them from late 2018.
BOS started off as an interesting sister chain to the EOS mainnet. It introduced interesting features such as faster finality and Inter-Blockchain Communication, attracting talented BP teams and application teams to its ecosystem. The BOS team has been quick on deploying new features to its blockchain and has been doing its best to be as inclusive as possible. Having been an EOS BP from late 2018, we saw a natural opportunity to support BOS as well.
Why we are stopping our validators on Loom Network and BOS
There is currently a flood of projects that are hitting mainnets and other critical testnet stages. They require increasingly more attention from our team. We have recognized that we needed to free up some of our time in order to better meet the demands of our community members and partner projects.
Running internal calculations and then reviewing the ecosystem progress of each project, we have decided that it would be best to shut down our infrastructure supporting Loom Network and BOS. We have not been making enough money on either one to cover even a small portion of our costs. But, most importantly, we have seen some projects exiting from their platforms and have seen static growth in developers and applications over the past few months. These factors played a big part in our decision to halt our support.
We emphasize, however, that this is just one validator’s opinion and is not indicative of how these projects will perform in the future. We cannot predict the future. We are simply trying to optimize our own operations, and it is key for us right now to free up some time for our team members.
This is a goodbye for now to Loom Network and BOS. We truly wish the best for both teams and hope that they keep working on improving and expanding their ecosystems. Please note that we are not planning any additional halts after this.
Next steps for stakers
For Loom Network stakers
If you have been staking to the stake.fish validator, please stake to another validator by May 28, 2020. You can delegate to other validators using this link.
For BOS voters
If you have been voting for stake.fish or eos.fish, please vote for another BP by May 28, 2020. You can use this link to vote.
Website: https://stake.fish
Telegram: https://t.me/stakefish
Twitter: https://twitter.com/stakefish
Instagram: https://www.instagram.com/stakedotfish
LinkedIn: https://b.fish/linkedin
