We are thrilled to announce the launch of our incentivized testnet program for our Layer 1 DPOS (Delegated Proof-of-Stake) chain. BlockX is building a Layer1 Chain and Cross-chain hub that is compatible with both EVM and Comos-based chains with lightning-fast transactions and low cost. This program is designed to gather feedback, fine-tune our network, and reward participants for their valuable contributions. Whether you are a validator or a node operator, this is your opportunity to actively engage in developing our DPOS chain and earn rewards in the process. In this blog post, we will introduce the testnet, outline the tasks, and rewards, and explain how you can join as a participant.
Testnet Overview:
Our incentivized testnet program is a crucial step in the development of our DPOS chain. By inviting validators and node operators to participate, we aim to stress test and optimize the network, ensuring its robustness and reliability before the mainnet launch. Your active involvement will help us identify and address potential issues, refine our consensus mechanism, and enhance overall performance.
To view stats on the current Testnet, goto the ping explorer: https://ping.blockxnet.com
or you can use our explorer: https://exp.nodeist.net/Blockx
Dates
The dates for the Incentivized Testnet will be from June 22 2023, 7.00am Eastern Time to July 16 2023, 7.00 am Eastern Time.
Validators can join mid-session also and get pro-rate rewards on some tasks which are time-based. Existing validators can start on tasks right after seeing this post and don't have to wait till start date
Validator Tasks
1) Set the commission rate between 5% — 7%
2) Claim your staking rewards
3) Delegate at least 100 BCX to another validator
4) Go to https://faucet.blockxnet.com and claim free tokens then transfer 5 BCX to your Validator address. This can only be done with the help of Keplr wallet as Keplr allows you to have both a 0x address and a blockx address in the same account.
5) Create a token with the validator name as the token name.
6) Proposal #1 will be created which is a Community Spend proposal type, validators must vote YES
7) Proposal #2 will be created as a Parameter Change proposal type, validators must vote NO
Additional details on token creation and deploying on BlockX can be found on these links
Remix — https://docs.blockxnet.com/introduction/deploying-smart-contracts/remix
Hardhat- https://docs.blockxnet.com/introduction/deploying-smart-contracts/hardhat
Who can Join
- Existing validators can participate immediately without filling up any forms. They should still submit the closing forms which will be shared later. They should also create an account at the Launchpad
- New Validators referred by existing Validators can participate immediately. The existing Validator can send a small amount of BlockX Testnet tokens to get them started on node setup. They should fill up the forms below
Forms and signups
- Launchpad: Create a free account at BlockX Ecosystem Fund Launchpad. Read about the Ecosystem fund below. https://invest.blockxnet.com/token/bxvx
- New Vaildators form: Fill up the form below. https://forms.gle/qnht8Hkik79b9bU28
- Setup your node as per the instructions below and perform tests and tasks
How to set up a BlockX Node?
1) View Validator Documentation https://docs.blockxnet.com/validators
2) Install the repo on a Ubuntu 22 machine https://github.com/defi-ventures/bl...d#how-to-become-a-validator-using-ubuntu-2204
3) Fill up the form https://forms.gle/6R5MuKNknHFAsYeH7
4) After setup, send your BlockX node wallet address to your referred Validator or BlockX Support ([email protected]) to get Testnet tokens to start the nodes.
More details at https://blockxnet.com/validators
Rewards
1) View Validator Documentation https://docs.blockxnet.com/validators
2) Install the repo on a Ubuntu 22 machine https://github.com/defi-ventures/bl...d#how-to-become-a-validator-using-ubuntu-2204
3) Fill up the form https://forms.gle/6R5MuKNknHFAsYeH7
4) After setup, send your BlockX node wallet address to your referred Validator or BlockX Support ([email protected]) to get Testnet tokens to start the nodes.
More details at https://blockxnet.com/validators
Rewards
- 200 USD per task worth paid in tokens in a combination of
- 25% of the rewards will be transferred as tokens locked for 3 months and vested daily after that for 6 months. Distribution will be within 1 week of the Mainnet date
- 75% of the rewards will be delegated to the node operated by the Validator in the Mainnet.
- Those who have purchased at least 100,000 BlockX Ventures Ecosystem Fund tokens (BXVX) for Launchpad can choose to receive 50% rewards in BXVX and 50% in BCX (Chain token). Details for the proof of purchase and the choice can be given in the Testnet closing form.
- Tokens will be valued at standard ICO prices of public rounds when distributing
Rewards will be distributed based on the quality and quantity of your contributions. The more tasks you complete, the more rewards you will earn. More details on the specific reward structure will be communicated to participants upon joining the testnet program.
The Reward Tokens
BlockX Chain token (BCX) — BlockX Chain is a Layer1 Chain and Cross-Chain Hub enabling a new generation of applications at lightning-fast transaction speeds, low costs, and AI-based security. BCX is the token for gas fees and staking rewards in BlockX. See https://blockxnet.com for more details.
BlockX Ecosystem Fund (BXVX) — BlockX Ecosystem is aiming to create a fund for developing the ecosystem of BlockX with several mainstream apps. In addition to creating the applications internally, the fund will also allocate funds towards market making of all BlockX projects including BCX. Holders of BXVX will get airdropped 0.25 of every project tokens for every 1 BXVX that they hold on distribution time.
All tokens that will be airdropped below have 6 months lockup period post-distribution and 18 month vesting period after that. Project tokens will be delivered on TGE and BCX tokens will be delivered on Mainnet Launch. Details of specific projects will be announced later. Preliminary information is at https://blockxventures.co
The following projects represent the collection of projects:
The Reward Tokens
BlockX Chain token (BCX) — BlockX Chain is a Layer1 Chain and Cross-Chain Hub enabling a new generation of applications at lightning-fast transaction speeds, low costs, and AI-based security. BCX is the token for gas fees and staking rewards in BlockX. See https://blockxnet.com for more details.
BlockX Ecosystem Fund (BXVX) — BlockX Ecosystem is aiming to create a fund for developing the ecosystem of BlockX with several mainstream apps. In addition to creating the applications internally, the fund will also allocate funds towards market making of all BlockX projects including BCX. Holders of BXVX will get airdropped 0.25 of every project tokens for every 1 BXVX that they hold on distribution time.
All tokens that will be airdropped below have 6 months lockup period post-distribution and 18 month vesting period after that. Project tokens will be delivered on TGE and BCX tokens will be delivered on Mainnet Launch. Details of specific projects will be announced later. Preliminary information is at https://blockxventures.co
The following projects represent the collection of projects:
- DEX & DeFi Platform
- Metaverse0x
- Social Media Platform
- AI Marketplace
- Gaming Hub
- BlockAria Dungeons Game
- XROS — AR/VR Platform
- BlockX Layer 1 Chain
BlockX Ventures Ecosystem Fund token (BXVX) can be purchased at BlockX Launchpad https://invest.blockxnet.com/token/bxvx
By joining our incentivized testnet program, you have the opportunity to actively contribute to the development of our DPOS chain while earning rewards for your efforts. Your engagement will not only help us improve the network's performance but also ensure its reliability and security. We value your feedback and look forward to building a strong and collaborative community as we move towards the mainnet launch. Together, let's create a DPOS chain that sets new standards of excellence!
Join our incentivized testnet today and let's revolutionize the blockchain landscape together!
By joining our incentivized testnet program, you have the opportunity to actively contribute to the development of our DPOS chain while earning rewards for your efforts. Your engagement will not only help us improve the network's performance but also ensure its reliability and security. We value your feedback and look forward to building a strong and collaborative community as we move towards the mainnet launch. Together, let's create a DPOS chain that sets new standards of excellence!
Join our incentivized testnet today and let's revolutionize the blockchain landscape together!
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