Layer 1 blockchain 5ireChain announced the launch of the incentivized testnet program, Testnet Thunder: GA, which is designed to perform network stress testing. The project invites individuals to serve as validators or nominators, with the chance to gain rewards in an upcoming airdrop.
To join as a validator, participants are encouraged to set up their wallets, stake to the validator pool, share a wallet address for the whitelist, set up a validator, earn points via block rewards, and subsequently get airdrop from points.
The minimum stake requirement is set at 100,000 5IRE tokens. The lock-up period will last for 12 months, with staking APY rewards ranging from 20% to 35%. An airdrop amount of $5 million worth of 5IRE tokens is allocated for validators.
Additionally, the nominators’ role is essential in securing and decentralizing the network by increasing the overall stake in a validator node. To participate as a nominator, users are required to do the similar steps before staking to the nominator pool. Then following sharing wallet address, set up nominator and bond to validator, earn points via validator commissions, and subsequently receive airdrop rewards.
Nominators must stake 5,000 5IRE tokens in the nominator-designated staking pool. The lock-up period will last for 6 months, with staking APY rewards ranging from 18% to 28%. The total airdrop allocated for nominators amounts to 250,000 5IRE tokens.
Thunder GA's #IncentivizedTestnet is now open for Nominators! Unlock rewards of up to 28% APY and get a front-row seat to our #Mainnet. Plus, a massive 5M $5ire Coin airdrop awaits Nominators on the Mainnet! Details: https://t.co/VruN9r8Ji2Don’t miss out!! pic.twitter.com/UYs3iFtNh0
— 5ireChain (@5ireChain) May 14, 2024
5ireChain Completes Funding Round Led By Gotbit And Introduces Its Staking 2.0 With New Features
5ireChain is a smart contract platform that prioritizes sustainability and aims to cultivate an ecosystem aligned with the United Nations Sustainable Development Goals. 5ire blockchain ecosystem prioritizes economic and environmental sustainability and is rapidly growing as one of India’s fastest-growing unicorns, supported by a global community.
In February, 5ireChain secured a substantial investment from the hedge fund Gotbit Hedge Fund, although the precise amount remains undisclosed. Recently, the project has unveiled 5ire Staking 2.0, introducing new features, including extended locking period options, automatic APY adjustment, and improved visibility.
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