It's time to ship it! Compendia is ready to launch, and it's happening 22 August 2020.
On Saturday August 22nd 2020, the Compendia Mainnet will launch with:
Staking for increased vote power (5,000 BIND minimum)
Dynamic coin removal from supply (based on transaction fees)
On-chain IPFS filesystem
Decentralized validator profiles (powered by IPFS)
Ethereum bridge with BIND to wBIND swap
Web wallet with Uniswap integration
The minimum stake will be 5,000 BIND (until changed by validator consensus, if ever). However, for the first ~2 weeks that the network is live, the minimum stake requirement will be 100 BIND. This is due to a technical requirement that we will explain later this week.
After the mainnet is deployed, you can swap your NOS to BIND by following this video tutorial. The swap service won't be available immediately after the first block, but after a few rounds have been forged and the initial swaps have been made successfully.
There will be no specific launch time.
We will work together with our community's testnet validators to get the mainnet up and running to a point where it's relatively stable and decentralized. We will also be carefully deploying and testing each key service on the mainnet (such as the NOS to BIND swap and the wBIND Ethereum bridge) to ensure that they're safe to use before opening them to the public.
To have the network launch with multiple decentralized forging nodes, BIND from the developer treasury will be temporarily used to vote validators into a forging position. These votes will be gradually reduced as more community votes come in. This could take a few days or a few weeks. It depends entirely on community voting!
There will be no block rewards for the first approximate three weeks after network deployment. After these three weeks, the top 5 validators will earn 4.84 BIND per block, and the other 42 active validators will earn 3.90 BIND per block.
Should any developer-operated "genesis node" earn block rewards, then those rewards will be destroyed.
While we do our utmost best to build and deploy a stable and secure network, keep in mind that bugs and issues occur with all software. Especially with new and open-source software like Compendia's blockchain. Even Bitcoin had vulnerabilities after launch. So, use the network responsibly and report any bugs and security issues that you may find for potential rewards!