The Creditcoin 2.0+ mainnet update is around the corner, upgrading the world’s biggest RWA credit network from Proof-of-Work to Nominated-Proof-of-Stake (NPoS)! You can read more about the advantages of 2.0+ here.
But before mainnet, we need your help to test the network before launch - by joining the Testnet you can earn upwards of 2,000 in CTC and get a headstart on the competition before the full release of Creditcoin 2.0+!
More importantly, you’ll be helping us stress test the Network and make sure everything is set and ready to go. Oh yeah, did we mention you can also earn up to $1,000 per bug bounty? Let’s dive in….
What is the Creditcoin 2.0+ Testnet?
The Creditcoin 2.0+ testnet is our way of gathering technical performance data, ironing out any bugs, and giving our community a taste of NPoS before we roll out the full mainnet update.
Testnet users can participate in Network staking to earn a variety of exciting CTC rewards based on their activities.
Creditcoin’s new consensus system allows for two different types of staking: nominating and validating. Before you join the Testnet, you should decide which of these roles is better for you. Here’s a brief summary of the key differences 👇
🖥️ Validators - Backed by nominators via voting. Responsible for running a node and validating blocks. Requires technical expertise and dedicated hardware. More Rewards.
🗳️ Nominators - Stakes via voting for validators. Responsible for backing honest validators. Requires minimal technical expertise and no dedicated hardware. Lower Rewards.
If you’d like to familiarize yourself more with Creditcoin’s NPoS consensus design, please read the full Creditcoin Staking documentation here.
Participation Rewards 💰
Of course, we don’t expect you to go through all this without getting rewarded!
Depending on your level of activity and your chosen role, you can earn upwards of 2,000 mainnet CTC by partaking in the Testnet, giving you more than enough CTC to start staking in earnest once the full 2.0+ mainnet update goes live!
🖥️ Validators: Up to 2,000 CTC mainnet tokens per node*
🗳️ Nominators: Up to 100 CTC mainnet tokens
Rewards are determined by looking at a variety of different factors, primarily your on-chain activity, but also engagement in the forums etc. Basically, the more you help, the more you’ll be rewarded.
Rewards will be distributed based on a snapshot of the final Testnet era, taken once the 2.0+ Mainnet update officially goes live. Only the final 50 nominated validator nodes will be eligible for rewards*. All active nominators will be eligible for rewards. Please bear in mind that duplicate accounts are not allowed and will be punished.
- (P.S. Validators can run multiple nodes to earn multiple prizes)
Bug Bounty Program 🐞
Our bug bounty program offers users up to $1,000 (in ERC-20 CTC tokens) for every bug they report, based on the severity of the bug identified!
- Major bugs: $500-$1,000
- Medium bugs: $100-$499
- Minor bugs: $10-$99
Nominators should submit bugs via this form. Validators should submit bugs via Huntr.dev (the Creditcoin Github can be found here.) Bug classification and rewards are at the discretion of the Creditcoin dev team. Bug bounties are paid out on a first-come-first-serve basis.
Please note that bugs are glitches and blockers that prevent you from fulfilling your role as a Validator or Nominator. Bugs are NOT graphical improvements, typos, etc. This is a public testnet and so we’re testing functionality.
How Do I Join?
The easiest way to get started as a nominator is by checking out our step-by-step nomination guide linked here. Otherwise, just follow the steps below to get started.
First, you’ll need to register an account on the Creditcoin Community Forums. You can use these forums to flag any issues and ask technical questions about the Testnet.
Then, set up a Polkadot.js wallet: Click here to download the extension for Google Chrome. Chrome is the only compatible browser for our testnet.
Depending on your chosen role, please read the relevant documentation and familiarizing yourself with the staking process.
🖥️ Validators: https://gluwa.gitbook.io/creditcoin-pos-testnet-documentation/validator-guides
🗳️ Nominators: https://gluwa.gitbook.io/creditcoin-pos-testnet-documentation/nominator-guides
Once you’ve set up your Polkadot wallet, you’ll need to request some Testnet tokens to participate. Simply fill in the Typeform here and we’ll transfer you tokens within 24 hours.
Please note that testnet tokens have no value and its utility is for participating in testnet purposes only. Validators will receive 15,000 testnet CTC tokens and nominators will receive 1,000 testnet CTC tokens.
Additionally, we’ve created a supplemental guide for Nominators if you prefer to follow a step-by-step guide instead of exploring on your own through the Creditcoin documentation.
Finally, you can also verify your testnet transactions by visiting the Explorer here.
If you run into any technical difficulties please direct your questions to the community forums and our team will promptly assist. Happy bug hunting and thank you for participating in the Creditcoin 2.0+ public testnet!
Quick Testnet Links
Official Website Links
- Creditcoin Community Forum
- Testnet Staking Dashboard
- Creditcoin Github
- Testnet Documentation
- Testnet Explorer
Join Testnet Links
- Create your Ceditcoin Community Forum Account
- Install Polkadot-JS Browser Extension
- Request Testnet Tokens
Testnet Documentation & Guides
- Creditcoin Testnet Documentation
- Nominator Documentation
- Validator Documentation & Guide
- Nominator Step-by-Step Guide
Testnet Bug Bounty Links