Phase 2 of Ternoa Mainnet Complete
For those who remember, we shared in March that the launch of Mainnet would be divided into 5 phases. Each phase has a series of releases, and it took a lot of work to make this announcement finally: We’re proud to say that Phase 2 of the Ternoa Mainnet is officially complete.
This means we’re on track to roll out the rest of the Mainnet. It also doesn’t mean that we’re done — we still have a long road ahead.
But, we did want to cover what we’re able to do now with the blockchain — and it’s amazing. Here are three core things you can now do:
Basic NFTs & Collections
The first available feature is the capacity to mint a basic NFT collection. Before, you were only able to do this on the Alphanet. Now, you can go into the Ternoa app, choose a picture, and mint that as an NFT on our blockchain. The possibilities are endless because anyone looking to mint their NFTs for fun to send around now has the answer.
The key to doing this is first creating a Ternoa account. You will then be asked to create a wallet with a 12-phrase mnemonic key. Lastly, you can start to mint your own NFTs. Feel free to use this guide here to help you do so. We’ve also launched our native cryptocurrency $CAPS, on the Ternoa blockchain, and is supported by Gate.io and AscendEX. You can link your wallet to purchase this, as this will be the gateway to getting the full functionality out of our dApps.
Speaking of full functionality, when you purchase $CAPS you can now stake them. This was an important goal that we spent weeks building out. We have had 50k Ternoa wallet downloads, 300 million CAPS minted on the Mainnet, and 200 million CAPS staked by on-chain holders. If you’re wondering how to stake your tokens, here is a nifty video guide on how to do this.
Marketplace Functions
With the Mainnet launch, there are also grander functions that come along with it. Aside from just your average retail user, enterprises wishing to find an easy, cost-effective solution to mint NFT collections can also do so using our application.
An example of this is MetaFight’s recent sale on the Ternoa Mainnet. This was the first time a play-to-earn game placed their entire NFT collection on our marketplace. This was a huge step forward for us at Ternoa because we put over 20 months of R&D into this process and built a community of 200,000 MMA enthusiasts ready to participate in the sale. Ultimately, over 1 million $CAPS worth of transactions took place in one weekend. Moving forward, some more features we intend to include royalty sharing, mirror NFTs, lending, combined NFTs, and even fractional NFTs.
With all of these moving parts as part of our ecosystem, we want to ensure that users can swap between different tokens as well. As a result, this is another feature that we have added. The Ternoa Token Bridge is the safest and fastest way to swap back and forth between ERC20 CAPS to Native CAPS and ERC20 CAPS to BEP20 CAPS. This bridge provides a connection that allows for the transfer of tokens between two blockchain ecosystems. A bridge is required for Ternoa because, as of the start, CAPS were ERC-20 tokens. However, native CAPS are necessary to stake, earn rewards, and pay transaction fees on the Ternoa chain.
This bridge enables CAPS ERC-20 holders to transfer them onto the Ternoa blockchain on a one-on-one basis.
SDK and Indexer updates
The third feature available with the Ternoa blockchain is an updated Indexer in the SDK. The Indexer now allows developers to fetch data from Basic NFT, Collections, and Marketplace on Alphanet & Mainnet. Our larger goal is to make scaling our blockchain easier. So, this makes it easier for new developers to come in and use the data set provided to think about how to either develop new dApps or build out the marketplace even further.
On Track for Full Mainnet Release
Again, we still have a long road ahead of us. The next phase to look forward to is Phase 3 — which will include auction functionality, NFT Rentals, and more play-to-earn games. These releases will be first announced on our social media channels, so it’s best to stay tuned.
Phase 2 represents the first building block on top of the foundation laid down by Phase 1. Using the present infrastructure, users can now participate in more marketplace features we have planned.
Keep your eyes peeled for the upgrades that will come soon, and follow us on this exciting journey.
