Xandeum Announces Incentivized Devnet
Xandeum, the L1 with a blockchain-based storage layer, is launching an incentivized Devnet on August 29, 2023.
Introduction
Xandeum, the L1 with a blockchain-based storage layer, is launching an incentivized Devnet on August 29, 2023.
Anyone who has bought a node license on get.bitoku.io (before the Xandeum launch on July 30, 2023) or get.xandeum.com (after the Xandeum launch) can run a Devnet node as well, in addition to their Mainnet-Beta node that they bought the node license for. For running a physical Devnet, XAND rewards will be boosted by up to 25x (!) over a period of six months.
The exact hardware specs needed to run a physical Devnet Node will be announced by the Xandeum Devnet launch date.
The exact terms and rewards boost conditions can be found below.
Boost Your Rewards up to 25x
By running a physical Devnet node, and purchasing a Node license right on the Devnet launch date, you can boost your rewards by up to 25x.
The first one getting that node right at 11am on that day will receive the full 25x rewards for a full 6 months. If you’re not that fast, and come up second, you will still get 24x the rewards. If you come in as number 10, you will get 16x the rewards.
You get the idea: The sum of your position (how fast you will be able to get your node after the launch) and your rewards boost factor will always be 26.
An Example
Let’s say the normal rewards per day are 25 XAND. That’s approximately the conditions at the time of writing, in late June 2023.
With that 25x boost, you’ll come out at 1,250 XAND each and every day.
Please note that these extra will not be newly minted, since that will increase the max supply and would therefore break our LightPaper, and the promises we made.
Hence, I’m proud to announce that these extra rewards will be paid out of Xandeum Labs’s treasury. Which means no dilution whatsoever for you and the other node owners, at the expense of Xandeum Labs.
What Happens After 6 Months?
The initial phase of incentivized Devnet will go on for 6 months. After that, there will be a DAO vote on the continuation of incentivized Devnet.
The DAO will also decide on the conditions, such as amount of incentivization, after the 6 months have passed.
What Are The Hardware Requirements?
We are currently running our internal Devnet here at Labs. Our goal is to have things working with 4 core Intel or AMD CPU, at least 2 GHz, 16GB of RAM, and 10 Mbps of network speed both download and upload.
If you can’t fulfill that at home, there will be ways to rent a dedicated server with providers such as Namecheap, Digitalocean, Google Cloud Platform, Microsoft Azure, Vultr and others. We will keep you updated on what plans at these providers will work for Devnet.
If you have 10Mbps upload and download or more at home, this will likely be the most cost-effective solution.
