5ireChain has launched Testnet Thunder: GA, an incentive program to stress test its blockchain layer.
5ireChain has launched the initial blockchain layer Testnet Thunder: GA, an incentive testnet program, to conduct stress tests on the network. With the opportunity to earn rewards in an impending airdrop, the project is inviting individuals to volunteer as validators or nominators.
Anyone can become a validator by creating a wallet, staking to the pool of validators, adding their wallet address to the whitelist, setting up a validator, earning points through block rewards, and then getting airdrops using those points.
One hundred thousand 5IRE tokens is the bare minimum needed to bet. There will be a 12-month lock-up period, with APY incentives ranging from 20% to 35% for staking. For validators, there is an airdrop of 5IRE tokens valued at $5 million.
The nominators, who play a crucial role in the network’s security and decentralization, increase the aggregate stake of a validator node. Staking in the nominator pool is the same as participating as a nominator; therefore, users need to follow the same procedures.
After that, you’ll need to share your wallet address, join a nominator and a validator, earn points through validator commissions, and finally, get your airdrop goodies.
To participate in the staking pool that the nominator has specified, miners must stake 5,000 5IRE tokens. During the 6-month lock-up period, staking annual percentage yields (APYs) will range from 18% to 28%. Nominators will receive 250,000 5IRE tokens as part of the airdrop.
5ireChain Announces Staking 2.0 with New Features and a Gotbit-Led Funding Round
A smart contract platform with a focus on sustainability, 5ireChain seeks to foster an ecosystem in harmony with the UN’s SDGs. With a worldwide community behind it, 5ire is one of India’s fastest-growing startups, and its blockchain ecosystem places a premium on ecological and financial sustainability.
Despite the fact that the exact sum is unknown, 5ireChain received a sizable investment in February from the Gotbit Hedge Fund. The recent unveiling of 5ire Staking 2.0 introduced new features such as the ability to automatically modify the APY, enhanced transparency, and longer locking duration options.