Preparing for Launch: Official Mainnet Date Announcement + Testnet Update

We are super excited to announce the official launch date for mainnet as July 28th, 2020!

The cutoff date to participate in the incentivized testnet and earn full POKT rewards will be June 30th, with July 8th for discretionary rewards. Although incentivized testnet is ending soon, it’s important to note that Pocket’s test network will continue to operate in parallel to the main network so node operators and application developers have a network to test and provision their setups.

Those that have met the full 30-day requirement of running a node or an app will receive full POKT rewards for participating in Pocket’s incentivized testnet.

If you ran a node for a 30 day period over the course of the incentivized testnet, you will receive 15,000 POKT. Every following consecutive 30 day period, node operators will also receive an additional 10,000 POKT. For example, if you had a node running for 60 days then you will receive a total of 25,000 POKT.

Similarly, if your app was active for 30 days during incentivized testnet, you’d receive up to 10k POKT. Every consecutive 30 day period grants up to an additional 5k POKT. For example, two months of application relay activity would comprise of rewards from the first month plus the second month for a total of up to 15k POKT.

For more information on our incentivized testnet, you can find the original post here.

Because we have previously communicated that the incentivized testnet rewards would continue until July 31st, we will be honoring rewards for those who have recently spun up nodes to participate in the incentivized testnet.

**Updated 06/29/2020 to clarify reward participation and distribution**

The additional 50k POKT bonus for the highest relays serviced was the incentivize to run additional nodes because that increases your chances to participate in a session and service relays. It was not meant to be a double-dip into the program rewards.

Since this wasn’t clear enough and because we don’t want to stiff genuine people from engaging with the protocol in preparation for mainnet, here is what we decided:

We will grant up to three 15k POKT rewards for individual node setups, per user (NOT the continuation rewards, that remains limited to one node per user), that meets the 30-day participation requirement. There will be a verification process to mitigate potential exploits to this.

We landed on this decision because POKT (and by extension the incentivized testnet rewards) is for the purpose of using Pocket Network. So, with only 3 staking addresses available to participants in the Genesis File, the cap will reflect that and will be limited to 3 as well.

If you intend to claim this reward by spinning up new nodes now (last date for full rewards is June 30th), you will need to refill the incentivized testnet form and confirm your new addresses to be verified for the Genesis File.

**Updated 06/29/2020 to clarify reward participation and distribution**

By establishing a participation deadline of July 8th, this provides our team with the time to consolidate and reconcile the addresses of the network’s initial stakeholders into the Genesis File. Over the next three weeks, we will send out clear instructions and ongoing reminders to token holders and incentivized testnet participants to create their accounts. These steps and updates will be communicated primarily through email, so if you haven’t already, make sure to sign up through our incentivized testnet forms: node and app. Failure to register may impact your ability to receive your rewards.

We are locking-up POKT rewards for the node/app participants of our incentivized testnet program, as well as, other initial stakeholders. Everyone will receive their rewards upon mainnet but will have their POKT rewards locked for an initial period of 105 days (the same as every other address in the Genesis File). Both node and application rewards will be restricted from being transferred or sold for 105 days but will be available to stake from launch,. If you do not give us your information for the Genesis File by July 8th, you may not receive your rewards.

Everyone that has provided their required account information for the Genesis File by July 8th, will receive all their POKT tokens on Day 1 of Pocket Mainnet. To reiterate, these POKT tokens will be locked up for 105 days from launch. During this time, the Genesis POKT tokens won’t be available for transferring or selling but can be staked.

We encourage you to prepare your node by working out the kinks on testnet and migrating over to the Pocket Network mainnet as soon as it launches. If you are curious how much POKT your node(s) can earn for servicing DApps or how much relay throughput your app(s) will receive from your POKT, you can use our staking calculator on our economics page to find out.

If you are interested in migrating your application over to Pocket or are interested in running nodes on the Pocket Network, we want to hear from you! Pocket has also set up a POKT Node Operator Bootstrap Program that will provide infrastructure providers and data centers with enough POKT to run several nodes as they get their node infrastructure established. More information on that coming very soon, so in the meantime jump into our Discord server to connect with the Pocket team and community!

Thank you for participating in Pocket’s Incentivized Testnet! Get ready for mainnet 🚀

CONNECT WITH POCKET:

As an open-source project, you can keep up with our progress on Github.

Visit our developer portal to get started with running a Pocket node or integrating the Pocket SDK into an app.

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Join our community on Discord to continue the conversation and receive support.