Today, we are excited to announce something we’ve been eagerly anticipating for a long time. The wait is finally over: Chromia’s mainnet will go live on Tuesday, July 16th!
It's time to close the first chapter of the Chromia story and begin the next…
What is MVP Mainnet?
The MVP Mainnet is the foundation of Chromia, upon which everything else will be built.
Though it will take time for the ecosystem to develop, the designation 'MVP' signifies that this release includes the base functionality needed for the network to start growing.
Let’s take a closer look at the scope of this release:
Native CHR
CHR tokens will now exist on the Chromia Network, with the Economy Chain serving as the ‘home chain’. This allows container leases, provider payouts, and other core functions to be carried out using native CHR.
CHR Bridging to EVM
Effective immediately after launch, users will be able to bridge CHR from Ethereum and Binance Chain to Chromia. A bridging interface will be available in Chromia Vault, streamlining the process.
A basic withdrawal interface will be available at launch, primarily designed for provider use. Withdrawal functionality will be integrated into Chromia Vault shortly after launch.
While the bridging of other assets is possible on MVP, the process will require configuration and deployment of a custom bridge. Developers who wish to implement bridging for a specific asset can request technical collaboration on our Official Discord Server.
Native Staking and Delegation
By the end of Q3, the staking and delegation system will transition to a new system built directly on Chromia. This switch will make the staking system more flexible by eliminating fees for basic transactions and enabling other interesting features, including auto-claiming of rewards.
Current stakers will continue to earn rewards under the existing system until then, with no additional action required. An article will be published in the coming weeks with more details about the transition to native staking.
Native Fees
When users lease containers, they pay the network in native CHR tokens. These fees are collected into a resource pool and distributed to network providers and stakeholders.
Prior to launch, a mainnet economics article will be shared. The article will outline provider compensation, resource pool distribution, provider system and staking requirements, and other key topics.
FT4 Accounts and Tokens
MVP Mainnet ships with support for FT4 accounts and tokens, meaning that the creation and transfer of FT4 tokens will be immediately available.
Dapp Containers
Dapp functionality is available at launch. Any user who leases a container using native CHR can deploy a Rell dapp for public use.
Anchoring (Cluster Anchoring, System Anchoring, Ethereum Anchoring)
Cluster anchoring chains, the system anchoring chain, and intermittent anchoring blocks to Ethereum will all be functioning from mainnet launch.
Cross-Chain Transfers (ICCF/ICMF)
While the network will originate with only two clusters (one system cluster and one dapp cluster), Chromia is already equipped to facilitate communication across multiple clusters as the network grows.
Utilities
- Chromia Vault: Allows users to send and receive payments, register and display dapps, create accounts, perform cross-chain transfers and bridge tokens from Ethereum and Binance Chain.
- Chromia Explorer: Mainnet will be integrated with Explorer at launch, allowing users to monitor accounts and network activity.
What Does This Mean for the Incentivized Testing Programs?
The testing programs will continue as scheduled. See www.chromia.com/test for more details.
- HackNet: Concluded on Friday June 28th.
- ProjectNet: Will continue to accept submissions until Friday July 26th.
- QuestNet: Will run until Friday August 30th.
What Comes Next?
- Native Staking and Delegation by the end of Q3.
- Announcements and launches from ecosystem partners in late Q3 and throughout Q4.
- Mainnet upgrades and new core products in Q4.
Wen mainnet? July 16th! However, this milestone is not a destination, but a beginning - the beginning of the Chromia ecosystem; a dynamic and diverse universe of dapps, games, data, and more.
About Chromia
Chromia is a Layer-1 relational blockchain platform that uses a modular framework to empower users and developers with dedicated dapp chains, customizable fee structures, and enhanced digital assets. By fundamentally changing how information is structured on the blockchain, Chromia provides natively queryable data indexed in real-time, challenging the status quo to deliver innovations that will streamline the end-user experience and facilitate new Web3 business models.
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