Today marks the highly anticipated launch of Quai Network’s Testnet, which introduces a revolutionary concept in blockchain: an energy-based monetary system powered by an evolution of Proof of Work, known as Proof-of-Entropy-Minima (PoEM). Participants in Testnet have the chance to earn rewards through a pro rata distribution system from a pool of 10 million Mainnet Quai tokens. Your rewards will be based on the amount of Testnet Quai tokens your address holds by the end of the testnet.
This means that if you hold 1% of the total circulating Testnet Quai tokens by the end of the testnet, you will receive 1% of the 10 million Mainnet Quai reward pool—equal to 100,000 Mainnet Quai tokens. Your rewards are calculated pro rata, ensuring that everyone gets their fair share based on their participation.
Important Dates for the Golden Age Testnet
- Today (10/15): The Colosseum network will go live, allowing you to test your hardware. The network will be in a bootstrapping phase with no incentives until Friday. During this phase, Node Wranglers can start setting up their nodes as we test the environment to ensure everything is ready for the reward phase.
- Friday (10/18): The network will be restarted, and incentives will officially go live for Node Wranglers. From Friday through the weekend, Node Wranglers will have 3 days to mine and accumulate tokens before the testnet opens to the public.
- Monday (10/21): Public miners can join the network and start mining Testnet Quai tokens.
- Wednesday (10/23): Transactions will go live, officially opening the incentivized Golden Age Testnet to the public. This marks the beginning of the Gamified Testnet, welcoming all users, developers, and miners to participate.
By isolating the rollout and expanding the Testnet in phases, our team is better able to identify potential issues. During the previous Testnet, we experienced several issues that, when compounded, delayed resolution. Our learnings from Iron Age Testnet taught us that by moving through these phases, we can implement fixes faster and ensure the network runs as smoothly as possible.
How to Participate and Earn Rewards
Testnet offers various ways to accumulate Testnet Quai tokens and grow your pro rata share of the rewards:
- Mining: Spin up your GPUs and mine on Quai Network. You can choose between mining Quai or Qi based on your strategy. Start Mining Now.
- Developing: Build smart contracts and dApps using EVM-compatible tools. Test out Quai’s scalable infrastructure and unique features, and drive activity to earn Testnet tokens. Start Developing Now.
- Trading: Use the faucet to get Testnet Quai tokens and trade QRC-20 tokens or NFTs within the ecosystem.
- Arbitraging Quai <> Qi: Quai’s energy-based dual-token system opens arbitrage opportunities for both miners and users to grow their Testnet holdings.
- Social Sharing & Challenges: Participate in social media challenges, engaging with Quai’s Twitter posts and Discord community to earn even more rewards. Keep an eye on evergreen and weekly challenges for your chance to unlock Testnet tokens.
Key Highlights of Testnet
- Energy-Based Dual-Token System:
- Quai: A scarce, programmable asset designed to scale with network growth, with issuance tied to mining difficulty.
- Qi: An energy dollar used for everyday transactions, issued linearly based on mining difficulty.
- Proof-of-Entropy-Minima Consensus: An evolution of Proof-of-Work, providing strong security while finalization times.
- Dynamic Sharding: Quai Network can automatically scale to meet demand, showcasing its ability to handle global transaction volumes.
- ProgPoW Mining: Utilizing an ASIC-resistant algorithm, Quai’s mining is decentralized and accessible to a broad range of participants.
What Makes the Golden Age Testnet Gamified?
Testnet is unlike any traditional blockchain testnet. Its gamified structure allows participants to engage in competitive activities like mining, developing, and trading.
Why Join Testnet?
This is your chance to be part of the thermoeconomic frontier. Whether you’re a miner, developer, or blockchain enthusiast, Testnet offers something for everyone. The insights and data gathered during this phase will be crucial in refining Quai’s infrastructure as we look ahead to its mainnet launch.
Jump in today, and get ready to maximize your pro rata share of the 10 million Quai tokens reward pool.
Stay informed by following Quai Network’s Twitter and joining the Discord to stay up to date.
Join the Discord
Follow Quai Network on Twitter
USEFUL LINKS
- Pelagus Wallet Download
- Block Explorer
- Node Setup Tutorial
- GPU Miner Setup Tutorial
- Development Introduction
- Quai Discord
- Quai Development Discord
All aspects of this testnet and participation therein are subject to the terms, conditions, and disclaimers contained herein as well as those provided elsewhere, including:
- The entirety of the Quai Genesis grants program, including the content of this article, is subject to the Terms and Conditions outlined in: https://qu.ai/grant-program-terms-and-conditions/
- The entirety of the Quai Testnet, including rewards, network operations, and the content of this article, is subject to the Testnet Terms and Conditions outlined in: https://qu.ai/terms-and-conditions/
All opinions, ideas, and statements shared in this website are delivered with numerous assumptions, risks, and uncertainties which are subject to change over time. There are multiple risk factors, including those related to blockchain, cryptographic systems, and technologies generally, as well Dominant Strategies’ business, operations and results of operations, that could cause actual results or developments anticipated not to be realized or, even if substantially realized, to fail to achieve any or all of the benefits that could be expected therefrom. We reserve the right to unilaterally, completely, or partially change plans, expectations, and intentions stated herein at any time and for any reason, in our sole and absolute discretion, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Quai and its designees, including Dominant Strategies Inc, reserve the right to change, amend or discontinue the testnet and these terms, conditions, and disclaimers, at any time in its sole discretion, and in no event shall be liable for any damage incurred.
ACCORDINGLY, WE RECOMMEND THAT YOU DO NOT RELY ON, AND DO NOT MAKE ANY FINANCIAL DECISION OR INVESTMENT BASED ON, THE STATEMENTS CONTAINED IN THIS WEBSITE OR ANY OF OUR UPDATES/ARTICLES — INCLUDING BUT NOT LIMITED TO ANY SELLING OR TRADING OF QUAI TOKENS, ETHER, OR ANY OTHER CRYPTOGRAPHIC OR BLOCKCHAIN TOKEN, OR THE SECURITIES OF ANY COMPANY.