Orbs PoS V2.5 Official Launch!

Eran Peled
Eran Peled

|

10 months ago

blog

It's finally here, the moment we’ve all been waiting for -

Orbs PoS V2.5 has officially launched!

We want to thank everyone who has taken part in this momentous event.

All of the hard work has finally paid off and the entire Orbs community is now ready for the next step in the Network’s evolution. This is the biggest moment for the Orbs Network since the initial March 2019 launch.

Starting today, the Orbs Network will include the following improvements: automated reward distribution on the protocol, empowering Guardians to determine the level of distribution to Delegators, allowing Delegators to collect their rewards on their own schedule, streamlining validator node operations, moving additional parts of the PoS system to Ethereum, imposing a minimum self-delegation requirement, creating a more sustainable reward rate and adopting a new architecture for reducing gas prices based on the state of the art contract design patterns that are gaining popularity in yield farming contracts.

All of these important developments were tested and built during the successful beta period and benefited from the feedback and contributions of many Orbs Network participants.

We just want to remind everyone that from now only V2.5 Guardians are eligible for staking rewards. We urge all delegators to make sure that they’re delegating their ORBS tokens to an active V2.5 Guardian.

V2.5 Tools and Analytics

As previously announced, the all-new Orbs V2.5 Tetra Staking Wallet has been deployed and has Full support for Orbs V2.5: Age of Guardians.

Delegators who would like to delegate to one of the new Guardians who joined Orbs V2.5 can do so now! A full list can be found in your Tetra staking wallet.

More information can be found in this blog post

In addition, the Orbs team prepared this awesome analytical tool for both Guardians and Delegators:

https://analytics.orbs.network/overview/stake

This brand new Orbs Universe Analytics dashboard, which was specifically prepared as part of the V2.5 initiative, aggregates everything you need to know about the Orbs PoS Universe in one place.

A great supplement to Orbs PoS V2.5: The Age of Guardians!

Orbs PoS V1 Discontinued

Following the V2.5 launch event, the last V1 rewards assignment and distribution will take place, and thereafter, V1 will be discontinued. V1 had a great run during the first year after the network launch, but the new V2.5 has improved on this success in really important and powerful ways.

In the upcoming days, we are going to publish official announcements on the last and final V1 rewards distribution event, as well as instructions for Guardians on how to unregister their V1 node and reclaim their collateral.

Here is the expected schedule for the wrap-up of V1:

11.12.2020 - Last elections in V1 3.12.2020 - V1 Guardians un-registration, collateral claim, and V1 node shutdown 7.12.2020 - Final V1 Rewards distribution event

Community Achievement!

The successful transition to Orbs PoS Universe V2.5: The Age of Guardians, emphasizes the resilience and commitment of the Orbs community.

Once again we’d like to thank everyone for their important contributions.

A big round of applause to everyone who was involved!

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