Mainnet Update

Mainnet Update

Dec 7, 2020 · 1 min read · cat

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Firstly, I would like to thank each member of our community for the continuous support and tremendous patience you have displayed over the past few weeks. On behalf of the team we truly appreciate it.

Building in this space does not come without obstacles and setbacks. Over the last few weeks, we were set back by a series of issues which we have documented previously. Whilst for the best part, we have managed to solve them all and have built the mainnet to 90 percent completion, what remains is an unexpected issue with the cross-chain pegging. As such, we will need another six weeks as of the 10th Dec to complete and finalize the mainnet for launch.

We hope that you all understand the predicament we are in, launching a mainnet is final. All features that were promised must function as intended and function meeting your expectations.

The Good News

I can confirm that whilst we finalize the remaining component, one of our dApps (Buildr) will be launched pending the code audit approval, pre-staking rewards will be extended until the audit is approved. Once launched, we will be migrating all staked LINA tokens to our mainnet staking. What this means is that staked users will be transitioned from pre-staking to mainnet staking and continue to earn rewards once pre-staking ends. We will be announcing before this date what the APY will be at Buildr launch.

In the meantime, the testnet has been updated to reflect the final product more closely. We will also be announcing the terms to an incentivized testnet trading competition over the next week, so keep an eye out for this. We will be releasing a more technical focused summary of what the status is of the mainnet launch in the next 48 hours.

In conclusion, on behalf of the team I apologize for not being able to make this announcement sooner. In the end, although close, we were not close enough but, we will get to our end goal.

Thank you for your continued support,

Kevin and team.