Litecoin has landed! Wanchain’s eighth Storeman Group selection begins July 1st!

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Wanchain

3 min readJun 29, 2021

Last month marked the addition of Litecoin to Wanchain decentralised cross-chain infrastructure. This integration is the latest milestone in what has been an incredible productive half-year for the Wanchain team. On the eve of the selection of the eighth Storeman Group, Wanchain’s industry-leading cross-chain infrastructure already supports truly decentralised bridges connecting Bitcoin, Ethereum, Wanchain, EOSIO, Binance Smart Chain, XRP Ledger and Litecoin… with more integrations right around the corner! Interoperable DeFi is no longer just a light at the end of the tunnel. It is already here.

The eighth selection cycle begin on July 1st, 2021.

Details

Selection period:

July 1, 2021 04:00 AM (UTC) — July 7, 2021 04:00 AM (UTC)

Confirmation period:

July 7, 2021 04:00 AM (UTC) — July 9, 2021 02:00 AM (UTC)

Working period:

July 9, 2021 04:00 AM (UTC) — August 9, 2021 04:00 AM (UTC)

Maximum number of Storeman nodes:

25 (including 1x Wanchain Foundation node)

Minimum stake per Storeman node:

10,000 WAN (including “Partner-In”)

Selection criteria:

24 Storeman nodes with the largest stakes

Delegation Fee:

10%

Delegation Ratio:

1:5

Supported wanBridges:

Binance Smart Chain-Wanchain bridge
Bitcoin-Ethereum direct bridge
Bitcoin-Wanchain bridge
EOSIO-Wanchain bridge
Ethereum-Binance Smart Chain bridge
Ethereum-EOSIO bridge
Ethereum-Wanchain bridge
Litecoin-Binance Smart Chain bridge
Litecoin-Ethereum bridge
Litecoin-Wanchain bridge
XRP Ledger-Ethereum bridge
XRP Ledger-Wanchain bridge

How to create a Storeman node

The yield of running a Storeman node is generally 50% higher than becoming a delegator. There are two basic requirements to running a Storeman node:

WAN tokens. A minimum of 10,000 WAN must be staked in order to run a Storeman node. The 24 Storeman nodes with the largest total stakes will be selected. Your node’s total stake is the sum of your own WAN tokens, and tokens staked via “Partner-In” and tokens staked by your delegates.
A cloud service on AWS, Google Cloud or equivalent to deploy your Storeman node.

For the detailed operations of how to set up a Storeman, please go to Wanchain 5.0 Mainnet Storeman Setup Guide.

Note: If you are currently operating a Storeman node and do not wish to participate in the next Storeman Group selection, please be sure to withdraw your node using the Wanchain Wallet before June 30, 2021 at 07:00 AM UTC. Your staked funds will automatically be returned to your wallet on July 10th, 2021. Node rewards will continue to be issued daily during this withdrawal period. All nodes that are not successfully withdrawn prior to the start of the next selection period will be eligible for selection.

About Wanchain

True DeFi is interoperable — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of DeFi.