Bittime - Self Chain, an blockchain focused on ease of use and security, has reached an important milestone by completing Mainnet Phase 1 and is now moving forward towards Phase 2. In this new phase, Self Chain is introducing two important initiatives: the migration of FRONT tokens to SLF and SLF staking. These strategic steps are designed to strengthen the ecosystem, improve network security, and encourage broader community participation.
Self Chain Phase 1 Mainnet Success
Self Chain's Phase 1 mainnet has run successfully, marking the launch of a live blockchain and fully functional operational services. This is a crucial first step for Self Chain to build a stable and reliable platform.
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Key milestones in this stage include:
- Active Blockchain Launch: The Self Chain network is now actively operating, producing blocks and facilitating transactions.
- Complete Operational Services: Self Chain's blockchain API, WS and RPC services are fully functional, allowing users to interact with the network easily.
- Strong Community Participation: The Self Chain Network has secured 58,995,468 bonded SLF tokens, demonstrating strong community participation and trust in the project.
The success of Mainnet Phase 1 demonstrates Self Chain's commitment to the development of a secure, decentralized and easy-to-use blockchain platform.
Also read: Cryptocurrency Theft on the Rise: Nearly $19 Billion Stolen Since 13 Years Ago
Strengthening the Ecosystem: FRONT Token Migration to SLF
The migration of FRONT tokens to SLF is an important step to simplify the token structure and increase focus on SLF tokens as the primary token in the Self Chain ecosystem. This is expected to increase the value of the SLF token and encourage wider community participation.
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The migration process is designed to be easy and safe for FRONT users. Comprehensive guidance and support is available to ensure a smooth transition.
Increasing Security and Participation: Staking SLF
Staking SLF allows SLF token holders to contribute to network security and earn rewards. By locking up their SLF tokens, users help validate transactions and improve network stability.
The Self Chain staking program offers attractive APRs to participants, incentivizing them to contribute to the security and decentralization of the network.
Towards Higher Decentralization: Mainnet Phase 3
Self Chain is committed to continuing to engage the community and provide the latest updates. Stay tuned for announcements about Mainnet Phase 3, where public node validators will further decentralize the network. This will provide greater control to the community and increase the transparency of Self Chain operations.
Conclusion
With a focus on user experience, community participation, and continuous development, Self Chain shows great potential to become a significant player in the rapidly evolving blockchain landscape. The migration of FRONT tokens to SLF and SLF staking is a strategic move designed to strengthen the ecosystem, improve network security, and encourage decentralization. Self Chain continues to move forward with a vision to build a secure, easy-to-use, and decentralized blockchain platform that is accessible to everyone.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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