Ronin Network has launched the Saigon Validator program as the new release migrates to the DPoS mechanism. Saigon is the new testnet that was released in November 2022. It will serve as a foundation for developers to build projects and deploy smart contracts.
We’re proud to announce that Ronin’s Saigon Testnet is migrating to DPoS!
This important release brings us one step closer to RON staking.
Read about the important changes coming to Saigon Testnet here 👇
📜 | https://t.co/khdZy6UDQl pic.twitter.com/WwVJuhnBNL
— Ronin (@Ronin_Network) January 5, 2023
According to the announcement, this blockchain will not replace Ronin. Instead, it will be the trial ground for developers looking to deploy their products on the open-source network. How they fare on the testnet will determine if they will succeed on the mainnet.
Saigon network operates a delegated proof of stake consensus mechanism. This implies that only a validator who attains specific status can join the program. This is in contrast to the Proof of Authority that Ronin currently operates. According to the team, DPoS offers more security than POA. While the latter just selects validators with the most coins, the former demands that delegators meet certain standards before assigning them to nodes.
Details of the Saigon Validator Program
The Saigon Validator Program is open to application from the 5th to the 12th of January 2022. Sky Mavis is setting aside 18,000 mainnet $RON. This will be gifted to community members who share quality feedback about this testnet. Validators with minimal downtime will also earn from this prize. Distribution will take place when the program ends
Meanwhile, everyone can become a validator by staking their tokens. Users can also see uptimes, total staked testnet $RON and annual percentage yield of every node validator. This enables users to make informed decisions before choosing where to stake their tokens.
Interested investors should follow these steps to apply:
- Visit the Ronin website.
- Navigate to the Staking Dashboard.
- Click on “Become a Validator”
- Navigate to Advisories and Setup Node. Read through the document to understand the duties of a validator.
- Proceed to fill out the form. Ensure that you add the correct details, such as your Admin address, Validator address, Bridge operator address, and commission rate.
- Once you have completed the form, stake a minimum of 500,000 mainnet $RON to become a validator.
- The system will make you a delegator by the following day. You will be allocated 500,000 testnet $RON to launch your node.
