As a minor update to our previous article on Mainnet Launch plans, we have decided to make the TGE event smoother by making sure that confirmed mainnet operators have an opportunity to spin up their Validators while the mainnet is in pre-TGE standby mode.
Chainflip Labs is offering mainnet-ready operators with confirmed clients and stakes in the network the opportunity to register their Validators early. By allowing this pre-launch on-chain activity, we hope that it will reduce the time it will take to build network collateral. It also has the advantage of ensuring that the network is fully decentralised before the TGE, and allows for more robust testing to ensure smooth rotations from day one.
To achieve this, Chainflip Labs will reduce the initial stake of the bootstrap nodes, and in concert with the Staking Providers, Liquid Staking Services, and some private operators, fund 4 FLIP to each requested Validator. As the “Redemption Tax” is 5 FLIP and emissions are turned off, operators will not be able to redeem any tradeable FLIP in this process and will be required to return the FLIP after the TGE.
If you intend to become a mainnet operator and can demonstrate that you or your clients will have access to 15,000 FLIP or more at the TGE, then you can also participate in this process by registering your interest through the following Google Form, from which the Chainflip team will help you out.
For other operators that do not yet have a stake - don’t worry. You will be able to download the mainnet software before the TGE for setup (which is very similar to the Perseverance setup), and once it’s done, the first Auction will run for 24 hours, which should be plenty of time to register and fund a mainnet Validator before the first post-TGE auction cycle is completed.
We will post updates on this process as it unfolds. The launch sequence begins!
As previously stated, no TGE date has been confirmed as yet, and stay tuned for announcements. 7 days notice will be given.
We hope you are as pumped for the launch as we are!