We have a few quick updates for the Straightedge community on this Genesis day. First, we thought that the launch was so nice, we should do it twice.
Shortly after launch, a balance issue was discovered in Edgeware’s distribution that carried over to Straightedge. Simply put, bonuses were not calculated correctly, and we want to make things right before traffic picks up.
More specifically, bonuses were meant to calculated multiplicatively, but were instead crafted additively. The result is that some users will receive more tokens than promised, and others would receive a smaller balance.
For example, a lockdrop participant with a 12-month bonus of 120% and an early-locking-bonus of 50% should have received a total effective bonus of 230% [(100%+120%)*(100%+50%)-100%], being the result of compounding the bonuses. Instead, in the Edgeware distribution, the accidental result of 170% bonus came about by adding 120% to 50%. For more detail on the promised distribution for lockdrop participants, read the original blogpost here from the Commonwealth team.
Since Straightedge has only just launched, the decision was reached to restart the network at this stage after some community discussions. This relaunch will take place around the time of this post.
Please note that the network remains highly experimental, and as such, transfers will be disabled for one month after launch to assist in dealing with issues like these, and with validating and nominating stability unless otherwise unlocked through governance. For more information and the latest updates, stay tuned to our community discussions on Discord, or follow the project on Twitter.
Further, Straightedge has by far been the longer chain between the STR and EDG projects since launch, and for that we wanted to thank everyone involved once more for your experienced and valuable input that has led us to this point.
Come validate with us
As the first zero-day fork and launching on Substrate, Straightedge Validator software is technically identical to Edgeware at launch — as it’s a fork of the Substrate-based Validator software. This means that if you have set up a Validator on Edgeware, it ought to be easy for you to do the same on Straightedge.
To learn more about how to be a validator at launch, join the conversation in the Straightedge #validators channel on Discord, and check out the Straightedge Node repository on Github and online at Straighted.ge.
Straightedge Launch Community