UYT NETWORK Progress Announcement
To the global users and supporters of UYT NETWORK:
Node election: UYT NETWORK mainnet is online and has been running stably for a period of time. We will open the mainnet community node application in the next week. The node selection will be auctioned, both BTC/ETH/USDT. The first batch of verification nodes will open 30. Synchronous nodes will be opened according to the network situation. This node opening is mainly for global excellent mining pools and excellent node communities. According to the economic model, nodes need to self-mortgage to maintain network stability. For this reason, we will give priority to nodes The user exchanges UYT and UYT-Test, and gradually unlocks linearly according to the node development to ensure that the node self-mortgage meets the nomination requirements. We will select 10 outstanding nodes from the 30 verification nodes to enter the parliament to determine the development of the preliminary project, every 30 The epoch is elected once, and the node selection conditions are as follows:
① Each application node needs to prepare 1 million UYT-TEST
②The conversion ratio of mainnet tokens and testnet tokens is 1:100
③Node users can perform cross-chain currency mapping
To UYT_Test (RAB): Testnet tokens play an important role in the ecological application and construction of the UYT ecosystem. All RAB holders will have priority to participate in UYT ecological projects, and each UYT ecological project must target RAB holders. For airdrops, holding RAB will be a necessary condition. Secondly, RAB can also participate in UYT slot auctions and parachain auctions.
To Cross-chain assets: UYT mainnet will no longer support HT assets. All HT will only be available for cross-chain conversion on the testnet. After scanning all blocks in the testnet, we found some of the locked cross-chain assets. For users to recover and release, cross-chain assets recovered and released will be released on the main network before November 5, 2020. Please use the main network account corresponding to the test network to inquire.
To DEX: We will open UYT-Test’s decentralized trading after all cross-chain asset review and traceability are completed.
