Crayfish Testnet Pre-release

CHANGELOG

• The relationship between RING and KTON changed:

  • Both RING and KTON can be used for bonding

• Staking Rule Changed:

  • Staking process changed:

    • if users commit extra time promise (3-36 months) when bonding RING, they will get KTON as a bonus, which can also be used for staking.
    • Normal bonded RING can be transformed into time-promise pattern smoothly (without any costs).
    • Users can promise extra time lock immediately on expired time-promise RING without unbonding it.
    • Users can redeem their bonded time-promise RING early if they pay three times the fine (in KTON).

  • Inflation changed:

    • inflation reduced greatly: from about 40% annualized inflation rate the first year down to 4%

  • Slashing rules changed:

    • Only bonded balance (RING&KTON) will be slashed because of the misbehavior of nominated validators.
    • Bonded balance will be slashed by percentage.

  • New vote power rules:

    • both RING and KTON are converted into votes according to respective rules: the number of votes is proportional to the reward that each vote can be awarded.
    • Half of the total reward will flow to RING bond-er, another half will flow to KTON bond-er.

• Some configs users might care about:

  • BondingDuration : 14 days (the duration of unbond-to-unlock phase).

  • total RING issued during the first year: 80,000,000 RING

  • ExistentialDeposit: 0.001 RING. (the minimum balance required to keep an account alive).