Polkadex Mainnet Launch: September 29th
The first step that will turn the Polkadex vision into reality is almost here!
There is finally a date for the Polkadex Mainnet release!
On September 29th, the Polkadex team will publicly launch the Polkadex blockchain, upon which Polkadex’s products will be built and gradually released. The Mainnet release marks the most important milestone yet for the Polkadex project team and community. Starting September 29th, anybody will be able to earn PDEX and secure the network by running a validator node or by staking their PDEX and nominating validators.
🎥 Gautham J, CEO of Polkadex, and Vivek Prasannan, Executive Director of Polkadex, had an AMA with our community announcing the date and answering questions related to the project and the upcoming launches. Watch it on our YouTube channel 🎥
To recap, what does Mainnet mean?
Polkadex is an expansive project made up of a handful of innovative solutions all built on top of the Polkadex blockchain. When we say ‘Mainnet’ we are referring to the main network, or the Polkadex blockchain. This is the foundation upon which the rest of Polkadex’s components are built, and onto which the different components will be gradually released.
When the Polkadex blockchain is deployed, it will need to be secured by validators and nominators. Once enough validators and nominators have secured the chain to the point where it becomes stable, other components of the Polkadex project (PolkaIDO, Polkapool, Polkadex Orderbook, etc.) will be rolled out onto the blockchain in their own Mainnet launches.
To make a comparison between Polkadex and, say, a DeFi project launched on Ethereum, it is important to note that DeFi projects on Ethereum are released onto an already-stable ‘mainnet’, the Ethereum blockchain, which makes launching a lot easier. In the case of Polkadex, the brand-new blockchain will need some time to become as secure, distributed and stable as possible before any components are launched onto it.
So, what’s next?
After the Mainnet launch, the next step will be to trigger the migration of PDEX from Ethereum to the Polkadex network. This will open a one way bridge turning the PDEX ERC-20 token into the native token of the Polkadex network.
Following the gradual migration of PDEX tokens from Ethereum to Polkadex, the other components of the project, like PolkaIDO, Polkapool, and Polkadex Orderbook will be gradually rolled out onto the Testnet first, and then the Mainnet.
Expect details on the migration process to follow shortly. In the meantime, for more details on the Mainnet and the roll-out of components, check out this article:
Polkadex Mainnet Launch 101
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What can you do on the Mainnet?
Once the migration protocol is released onto the Mainnet and you have migrated some PDEX over from the Ethereum blockchain, you will be able to start securing the Mainnet immediately.
At that time, you will be able to run a validator node to secure the network and earn PDEX in return. You will also be able to stake your PDEX, nominate a validator and start earning yield on your PDEX. While every action will be open to any participant since the Polkadex blockchain will be a public chain, validating might be advanced for some community members. If validating is too advanced for you or you lack the system requirements necessary to validate, you will still be able to nominate validators with your staked PDEX and earn interest in the form of payouts from validators.
For more details on running a validator node check this article we wrote for the Testnet launch (the process will be very similar on the Mainnet):
Polkadex Testnet: How to run a validator node
Start running your own validator node on the Polkadex Testnet!
In the meantime?
Testing, testing, 123.
As you may already know, the Polkadex Testnet is the staging network where the code is pushed to before being released to the Mainnet in order to ensure everything runs smoothly.
The Testnet has already been released and has, at the time of writing, over 2,000 participants, including 200 validator nodes and almost 700 nodes waiting to validate the chain.
In fact, you can request Test Tokens, nominate validators, and even set up your own Testnet validator node right now in preparation for the Mainnet launch.
The most recent Polkadex Testnet update introduced a simulation of the Mainnet PDEX token economics and served as a way to more accurately predict the returns from staking. For more details on the latest Testnet update and how you can participate, read the article below. It even includes a staking guide which will be helfpul for Testnet and Mainnet participants alike:
Testnet update: Tokenomics Integration
After last week’s successful release of the Polkadex Testnet, it’s time to kick things up a notch.
The Testnet will run concurrently with the Mainnet in perpetuity and will be a helpful testing tool for anybody developing on Polkadex.
In the coming weeks, a handful of exciting updates will be released onto the Testnet, including the ERC-20 to native PDEX migration bridge and the full PolkaIDO with the integrated interface and backend. Polkapool, Polkadex Orderbook, and any future updates will also be released onto the Testnet first before releasing on Mainnet.
Exciting times ahead for Polkadex, for sure! Follow the official Polkadex channels to keep up with everything happening during the next few busy weeks!