Razor Network Community Update — January 2022
We are happy to present our community with the very first update of 2022. Having started the year with a bang, we have managed to gain significant ground during the first month. The most exciting part of this update is the launch of our Incentivized Testnet Phase-I with 500,000 $RAZOR as testing rewards, accompanied by the rewarding $RAZOR Trading Competition in association with DFYN. Further sweetening the pot for our esteemed community, we have also introduced the next edition of $RAZOR farms with additional earning opportunities.
Introducing Razor Network Incentivized Testnet
The much-awaited release, Razor Network Incentivized Testnet is finally out in the open. We have come up with a multi-phase rollout launch program starting with Phase I that went live on January 27, 2022. We have selected the first batch of participants numbering a bit over 100 community members to operate RAZOR nodes and act as Delegators on the network. These participants were chosen from a long list of community members who responded with great enthusiasm to our call to join the network as early adopters. More participants will soon join these pioneers in the subsequent phases while making a valuable contribution to the project.
We are off to a great start with the Incentivized Testnet program. As the early participants play a vital role in ensuring the development, they stand to earn up to 500,000 $RAZOR as rewards over a period of one month, ending Feb 27, 2022. The feedback received from these early participants will be utilized to iron out any shortcomings and further improve our truly decentralized oracle solution for the DeFi industry.
Read this to know more about Phase I of Incentivized Razor Network Testnet.
Meanwhile, selected participants in the first phase who wish to delegate their stake to the first batch of active node operators on the testnet can do so by following this video.
The RAZOR DFYN Trading Competition
Everyone likes to book profits while trading, and we went ahead to make it a bit more rewarding by partnering with Dfyn Network — a popular DEX on Polygon Network. We joined forces with other prominent projects as a part of this trading competition to offer our community an opportunity to earn over $20,000 worth of $RAZOR, $DFYN, and other tokens.
With NORD, Matrix, Ferrum, Safle, and Router onboard alongside Razor Network, users trading our favourites — $RAZOR/USDC and $RAZOR/ETH along with $NORD/USDC, Matrix/USDC, $FRM/USDC, $SAFLE/USDC. $ROUTER/USDC, $DFYN/USDC, $ROUTER/USDT. $DFYN/USDT. $ROUTER/ETH and $DFYN/ETH trading pairs became eligible to earn a fair share of the rewards based on their trading volumes during the competition period.
The competition spanning over 10 days ended at 15:00 UTC on February 3, 2022, and the winners were selected across two tiers — Internal and External Cohorts with rewards of over $12,500 and $7,500 worth tokens allocated respectively across both cohorts. The winners were selected based on their trading volumes, as displayed in real-time on the Dfyn Network platform leaderboard.
$RAZOR Farms on Dfyn — The Fourth Edition
Our community’s favourite, $RAZOR farms on Dfyn Network is now in its fourth edition. The ongoing, 90-day program involving $RAZOR-$DFYN Dual Farm and $RAZOR-$ETH Ecosystem farm has 1,000,000 $RAZOR and 45,000 $DFYN rewards in the offering.
Visit the Dfyn Farming Pools and start farming now:
RAZOR-ETH, APY 80%:
RAZOR-DFYN, APY 94%:
Read more details about farming $RAZOR.
Razor Network Dev Updates for January 2022
The development update, for January 2022 was mostly focused on ensuring a smooth launch of our incentivized testnet. We fixed numerous bugs on RazorScan, Razor-go, and other contracts before making it live. Our development team ensured that the testnet is stable and user-friendly.
Other notable changes made to Razor Network during January 2022 include an NPM version update, changing a few functions for easy comprehension, e.g., VotingPenalty renamed to VotingRewardOrPenalty, the introduction of flexible staking and a fix for the age penalty issue during asset deactivation, among others.
All the activities during the previous month are just the tip of the iceberg as we intend to continue working at the same, or even a much better pace throughout the year to introduce new features, upgraded smart contracts, and more. We will also announce plenty of rewards earning opportunities for our community, in the form of farming opportunities, fun contests and more. Keep an eye out for our updates for more exciting news.
Join our Discord if you wish to participate in the next phase of Incentivized Testnet
About Razor Network
Razor Network is a blockchain agnostic truly decentralized Oracle platform for Decentralized Finance. We are working on next-gen oracle systems. Razor Network is a blockchain agnostic decentralized oracle network focusing on Maximum game-theoretical security, complete decentralization, and fully permissionless.
Stay updated with the latest developments by following us on GitHub and Telegram for updates.
