Please don't crucify me.
31 May 2022, 10:23
Hi! Please don't crucify me. Obviously we're not gonna make it in time to launch today, and the main reason is that it's just not 100% ready just yet. We are super close, however we are still gonna do the public test on the testnet. When we're done we will also need to secure some downtime for the whole platform to make the changes necessary to introduce relayers - which will be announced in advanced so that our customers will have a predictable experience which we need to do considering the traffic and usage that we have right now.
Regarding the reward limits we've reached a decision that we can announce - it will be a progressive reward system, meaning that anyone will be able to relay transactions, however the amount of reward depends on the amount of CXO tokens held in the target wallet. So for each "document issue" transaction a total of $0.60 worth of CXO will be used, where 50% is always sent to the 0x0 address and up to 50% is sent to the relayer depending on his/her holdings. To receive the maximum reward the relayer will need to hold 250.000 CXO tokens. So to simplify - if you hold 25.000 CXO you would receive $0.03 worth of CXO, if you have 100.000 CXO you would receive $0,12 per relay. So basically your holdings up to 250.000 divided by 250.000 multiplied by $0.30.
Regarding the "delayers" it's personally my fault for underestimating the time required to make the appropriate changes to the platform itself to accomodate relayers and the shift in paradigm of processing transactions that we do at the moment. I will now refrain from giving any estimates of "when" because it's very hard missing deadline after deadline. I know it's exhausting, but I always say what I say with the best intentions, never to mislead. Having said that, and the reward treshold announced, my advice is please refrain from stocking up at least until we start with the public tests, I do not want to be held liable for someone putting his life savings into CXO to start relaying only for it to go live after let's say a month or so - again I'm not giving an estimate here. When public tests start it's smooth sailing from then on out. And it really is soon. Sooner than most of you think after this long winded explanation, just not today obviously.
To sum up - I'm not sorry that relayers haven't launched yet, if it's not perfect, it's not ready. But I am sorry for giving out statements that promised delivery that wasn't reached, this I am truly sorry about. I know a lot of you are passionate about this project and have serious funds tied up in the token, which I appreciate and always have since ICO. Regarding my work at the company - relayers and the token are my #1 priority and currently only task that I am working on.
I'll gladly answer any questions you have about anything.