With the success of the Beta period, Orbs PoS V2.5: The Age of Guardians is ready to launch!
The official launch date is set for the 30th of November 2020.
This is truly a momentous occasion in the history of the Orbs Network (second only to the Orbs mainnet launch back in 2019), which will place Orbs PoS architecture at the forefront of public blockchain infrastructure projects.
V2.5 contains a variety of crucial improvements, including automating 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.
The launch of V2.5 comes after several months of successful testing and use of V2 and V2.5 in beta form. This process has allowed for the network to be streamlined and improved based on the input and contributions of many Orbs Network participants. We’d like to thank everyone who contributed to this great achievement, your hard work and dedication helped make Orbs PoS V2.5 into reality.
Orbs PoS V2.5: The Age of Guardians official launch will take place on the 30th of November.
From then on, only Guardians who participate in V2.5 will be eligible to receive rewards. In addition, rewards calculation and distribution will be only under the V2.5 new reward mechanism.
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 network launch, but the new V2.5 has improved on this success in really important ways.
On November 9, Orbs PoS V2.5: The Age of Guardians will be deployed on the Orbs mainnet.
We would like to give a huge round of applause to all Guardians who participated in the V2.5 Beta Program and are happy to announce the V2.5 Promotion to all V2.5 Guardians and their Delegators:
From Nov. 9 up until the official launch date on Nov. 30, all V2.5 Beta participants will receive a 10% of their total V2.5 staking rewards.
This promotion will be given in addition to the ongoing V1 staking rewards!
In order to be eligible for the promotion rewards, Delegators must delegate their ORBS tokens to an active V2.5 Guardian. This can be done using the Tetra staking wallet. Token holders who are already delegating their ORBS tokens to a V2.5 Guardian do not need to re-delegate and will automatically receive their promotion staking rewards. Anyone else who wishes to receive the promotion rewards will need to switch their delegation to a V2.5 Guardian
The promotion period will end on the date of the official V2.5 launch - November 30. Thereafter, rewards will be granted as usual under the V2.5 rules and V1 will be discontinued.
Orbs V2.5 is the new and improved architecture for the Orbs Universe.
Orbs V2.5 emphasizes usage and performance while empowering the Orbs Universe Guardians and Delegators. Orbs V2.5 will enable the Orbs Universe Guardians to take an active role in building and maintaining a secure, scalable network, which will be in a great position to be the first choice for blockchain adoption by mainstream businesses, and to better manage and serve the network and its participants. As you can read in more detail in the document below, V2.5 will improve the PoS Universe across many dimensions and represents a significant leap forward in the sustainability, efficiency and decentralization of the Orbs Network.
V2.5 comes after a very successful beta period and has been the product of months of hard work and contribution from many ecosystem participants.
Read all about Orbs PoS V2.5: The Age of Guardians is this Overview Document
We encourage everyone to review this material carefully and get in touch with us through one of our official community channels (Twitter, Telegram) with questions and feedback.