Road to mainnet – part 4: prepare for the Cudos native blockchain launch

Our mainnet launch is coming closer. With the mainnet launch in February, our network will transition from Ethereum to the native Cudos blockchain.

We are thrilled to announce that phase 4 of our incentivised testnet, Collins, will begin today. Phase 4  will commence with internal testing today before giving access to the community next week. We will carry out a complete dry run of the genesis deployment with the whitelisted validators next week, who will be part of the mainnet genesis block.

It is significant for our network as we will start end-to-end testing of the process of launching the Cudos network from genesis. In addition, phase 4 will see the migration of our native tokens on the new Cudos network.

Learn more: 🚧Road to mainnet – part 1: What are the benefits for our blockchain?💥

Learnings from the public testnet

We began our incentivised testnet, Project Artemis, in September and have completed three phases of the project. As we embark upon the next milestone, we reflect on what we have accomplished in the past few months.

“The public testnet was crucial for us as we had valuable interactions with validators and developers involved in various tasks. While they earned rewards for their contribution, the testnet has been an enriching experience to test our network. We strengthened our internal process for community management and coordination and have an interactive channel on Discord where fellow validators can chat about hardware, staking, and get any other queries addressed. We are pleased that we are doing it transparently and engaging the community along the way,” commented Ethan Illingworth, our Blockchain Product Manager.

During the testnet, we successfully onboarded a strong pool of 60 validators, running through the processes for different phases of Project Artemis. In addition, the community has helped us iron out any issues that came up during the testnet, making us better equipped to run the network on the mainnet.

What must you do to prepare for the launch?

Map your tokens

Holders of Cudos ERC-20 tokens, who have staked them on the Ethereum network, need to prepare for migrating their tokens to the new Cudos network. We had pushed our earlier deadline of using the address mapping to give you more time to migrate your tokens. The Address Mapping tool will now be accessible till February 7, 2022.

We will be freezing the staking rewards (on Ethereum side) on February 4, allowing stakeholders who used Address Mapping until February 7 to claim their rewards and add it to the stake. Meanwhile, rewards of the stakeholders will auto-migrate rewards without them having to pay any additional fees and without leaving any leftovers. Following which, the Address Mapping will be become inaccessible on February 7, (Ethereum) staking smart contract will freeze and we will start preparing for the auto-migration.

Sharing some exciting news, Adnan Efendić , Blockchain Product Owner shared, “We will ‘airdrop’ additional native cudos coins/tokens to respective staker’s address mapped native wallets with a same amount that they would receive if they were to stake in the meantime (from Feb 4th and until mainnet launch).”

Learn more: 🚧 Road to mainnet – part 2: utility of tokens in the Cudos blockchain 💥

If a user misses the deadline for the address mapping tool, they can migrate the unclaimed rewards using the other two methods – reclaiming smart contracts and using the gravity bridge. However, it will incur extra gas fees.

Talking about token migration, Ethan Illingworth said, “The optimal way to migrate your tokens is to use the address mapping tool. No other network has managed to pull this end-to-end migration yet. We want to make sure it gives optimal experience for the user and also helps the token and the network.”

We have made a step-by-step guide to walk you through the process of using our Address Mapping tool.

Complete validator and developer tasks

We would like to thank our validators and developers community for their contribution to the three phases of Project Artemis. They will play a significant role in the final phase and our mainnet launch.

All validators who will be part of the genesis block in the mainnet will have to prepare for the launch. Validators part of phase 4 will be the only ones who will move ahead to the mainnet.

Learn more: 🚧 Road to mainnet – part 3: advantages for developers and validators on the Cudos blockchain 💥

“Their stake will be migrated automatically at no cost to them, and they will keep all the delegators they currently have in the Ethereum staking. Furthermore, as this is the last phase of the testnet, we are also adding some extra tasks from the previous phases to double up on the testing of the network and also to give more chances to developers to get engaged, familiarise themselves with the network, and earn some more rewards,” added Joan Garcia Tormo, Head of Data and Research at Cudos.

As part of Phase 4, we’d like to invite you to complete these bonus tasks, now!

After completing the tasks, validators and developers can submit their rewards claim using this form.

Stake your tokens

With our vision set on the mainnet launch in February, we have another reason to celebrate. Cudos reached the 1 billion staking milestone this week, and the number is growing!

Our staking platform is offering up to 30%* APY at the moment, and after the mainnet launch, you’d be able to access Delegated Proof of Stake (DPoS) on the new network. So, if you are a CUDOS token holder, stake on our platform to help secure the network and earn juicy rewards in return.

To know more, watch Ethan Illingworth, our Blockchain Product Manager, answer a few community questions about the token migration process, CUDOS listing on exchanges, and the future of staking on our network.

If you are a developer, this is your final chance to join the testnet and earn rewards. To begin a discussion, head to our Discord.

And above all…

Remember to complete the bonus tasks and claim your rewards!

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