Cudos Mainnet And Token Migration Updates

With the conclusion of our Gravity Bridge audit this week, our mainnet launch preparations gained momentum. The Bridge is a vital component of our Token Migration strategy. It will facilitate the transfer of unstaked CUDOS ERC-20 tokens from Ethereum to our native chain following our mainnet launch. While we continue to evaluate the audit's findings, preliminary assessments provide a positive appraisal, potentially ticking off another significant milestone as we continue our steady march to mainnet, which is slated to go live next month.

Alongside the Gravity Bridge audit, we’ve continued with network-wide tests on the Dress Rehearsal (DR) network, a successful replication of our mainnet environment to enable network testing under post-mainnet conditions. This has helped us flag various issues, which we continue to resolve. Finally, we aim to create a final DR network before the mainnet to thoroughly assess the network’s performance under stress.

Here are some of the most critical issues we're tackling currently.

Gravity Bridge: With the Bridge audit completed, we had mostly low importance issues with only a handful mid- to high-priority concerns. We are now examining and categorising them and will address them in order of importance.
Network hardfork: The next network hardfork will happen on the public testnet, and we're keeping the current DR network for additional testing. We will have a more precise projection next week regarding the public testnet hardfork, with a target date of later this month. The plan is to have all mainnet dependencies included in this hardfork since it will likely be the final hardfork before we go live.
Tokenomics: We'll require an additional network to test the tokenomics with a few Cudos-managed nodes and modifications to the root validator start. This process will need some extra setup, but it is not complicated.
Dress Rehearsal: We plan to create a second DR network before the mainnet launch. This will likely occur in early June following the resolution and testing of the issues mentioned above. In addition to these, we continue to resolve various infrastructure-related tasks for the Explorers, Gravity Bridge, and Legacy MultiSig/composite wallets.

Token Migration: Once we get closer to the Mainnet launch, we will communicate the new dates for freezing the staking rewards and contract. We’ll also provide new timelines for utilising the address mapping tool.

You can follow our weekly developer updates to stay updated with the Cudos Network's progress. You can also follow our social media communities to stay informed on the latest announcements about our mainnet readiness, partnerships, initiatives, and more. In the meantime, go to explorer.cudos.org to learn more about the network or docs.cudos.org to understand how to deploy a smart contract on it.

Support our mainnet preparations

You can still join the final phase of our incentivised testnet as a developer and take on our outstanding tasks. The tasks are detailed here. Dive in.

Participating in tasks such as creating smart contracts, deploying the gravity bridge, minting and transferring an NFT, creating content, and more could earn you substantial rewards.

Join Cudos’ Discord server
Join Cudos’ Telegram community
Buy CUDOS
Become a Cudos’ ambassador

About Cudos

Cudos is powering the metaverse bringing together DeFi, NFTs, and gaming experiences to realise the vision of a decentralised Web3, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.

For more:

Website, Twitter, Telegram, YouTube, Podcast, Discord, Medium

Market News and Data brought to you by Benzinga APIs