Warring Stakes

An Incentivized Testnet Challenge

 

Warring Stakes Announcement:

We’re thrilled to announce Meter’s Incentivized testnet challenge - Warring Stakes! Here's your opportunity to participate in our network by putting your validation and mining skills to the test for a chance to win mainnet MTRG tokens! Test your validation setup and help us uncover any vulnerabilities before out mainnet launch.

Key Phases:

 

  • Dec  - Testnet starts
  • Jan   - Consensus nodes increase to up to 100
  • Feb  - MTRG onchain auction test
  • May  - Mainnet launch practice

Why Join Warring Stakes?

 

  • Earn mainnet MTRG tokens
  • Gain an early-mover advantage
  • Solidify your presence on the Meter network
  • Build, test, tweak, and optimize your mainnet node at an early stage
  • Have awesome fun, meet, compete, and network with likeminded, keen blockchain enthusiasts
  • Meter network gets tested for bugs and vulnerabilities

Bug, Development and Community Bounty

Incentive structure: 

  • Every Testnet participant will earn points in the Warring Stakes competition.  The points will be updated in GitHub every week.  The participants will divide the final MTRG and MTR reward pool based on their points.
  • Since all MTR tokens have to be mined through PoW, the Meter team will purchase MTR tokens from the current miners on the testnet for the reward pool.
  • Additional bounties will be announced on our social media channels.  Basically we need help in development, ecosystem and community.  Please do not hesitate to reach out to us if you have any ideas.
  • Please refer to these guidelines on Github

    FAQs:

    • Can I get started now?

    Yes! Simply click on the Warring Stakes’ Incentivized Testnet Competition link and join the fun!

    The sooner you start, the sooner you can plan your validation setup and strategize to collect as much stake as possible!

    • What does a validator do?

    A validator is responsible for running a full node on the Meter network and participates in consensus by broadcasting votes. 

    The main role of a validator is to commit new blocks to the chain. Validators receive a network reward in exchange for their services. 

    Validators’ must also vote on new network proposals. Their voting power is weighted according to the stakes that are delegated to them, regardless of whether the stakes are self-delegated or delegated by other network participants.

    • How does delegation work on Meter?

    The weight of each validator on the Meter network is determined by the number of tokens that have been bonded to its node as collateral. 

    Network participants can stake their tokens with any validator node thus delegating their voting power to the validator node they chose. 

    Delegators receive a reward for each block that their chosen validator commits to the chain. 

    The delegator’s reward is calculated in accordance with the size of the stake bonded to the validator and the percentage charged by the validator node operator. 

    • How do I run a node?

    Please follow the steps in the document linked below:

    https://github.com/meterio/warringstakes/

    • What will I need to participate?

    The minimum requirement is 2 vCPU, 4GB memory, and 100GB SSD. 

    The Ideal configuration is compute-optimized instance with at least 8 vCPU, 16GB memory, and 1TB of SSD  (for example AWS c5.2xlarge).

    All the competition updates will be published on our Discord server first. Please join Discord for regular updates, also for exclusive challenges with bonus stake!

    We will also have weekly updates for the rankings on Github. 

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