Akash Network

Boz Menzalji Boz Menzalji Sep 20, 2020
Sep 20, 2020

Akash Mainnet Launch Update

As our CTO Adam Bozanich shared in his Mainnet Overview article last Thursday, Mainnet is the beginning of Akash DeCloud, our decentralized cloud marketplace. By enabling staking and governance, it will unlock value for the network, and accelerate growth for our community. 

This week, we’re excited to launch Akash DeCloud: Mainnet, and progress our vision for The Unstoppable Cloud, a permissionless, sovereign, and open cloud where builders of the Internet have greater freedom and sovereignty.

To provide our validators more time to submit GenTX and bring up their validator nodes, we’ll be updating our Mainnet launch date from Wednesday, September 23rd to Friday, September 25th.

Below is our Mainnet Launch Schedule and key actions needed from Akash validators. If you’re a validator, please join our Discord channel for important updates.


Mainnet Launch Schedule
_____

ActionStart Date/TimeEnd/Time
Collect GenTxSept 20: 2PM PST /
10PM UTC 
Sept 23: 9AM PST /
5PM UTC 
Genesis FileSept 23: 10AM PST /
5PM UTC 

Mainnet Launch (Genesis Time)Sept 25, 6AM PST /
2PM UTC


Collect GENTX: Sept. 20th, 2PM PST / 10PM UTC
_____

You can submit your GenTx starting Sunday, September 20th at 2PM PST / 10PM UTC.  Please follow our Validator guide here. Note, all GenTx will be the same amount, as you are limited to 1,000 AKT for bonding.

The deadline to submit GenTx is Wednesday September, 23rd at 9AM PST / 5PM UTC.


Genesis File:  Sept. 23rd, 10AM PST / 5PM UTC
_____

At this time, you’ll be able to bring up your validator node online–we’re excited to share this special moment with our validator community! As a special thank you, we’re incentivizing the first 64 validators to get online, with an additional 5,000 AKT, before our official Genesis Mainnet Launch: Friday, 6AM PST / 2PM UTC.


Akash Mainnet Launch: Sept. 25, 6AM PST / 2PM UTC
_____

And we LAUNCH! We look forward to achieving this milestone together this Friday!


What’s Next for Mainnet and Akash Token Economics
_____

We’re implementing a phased rollout to enable Akash’s tokenomics model (2021).  You can find more information on Akash Token (AKT) and Akash’s token economics on our Token landing page, live on our site this week.

Our Mainnet 1 blockchain is based on the Cosmos Hub. In order to properly compensate providers on the network (providers are users contributing cloud compute to the network e.g. datacenters), AKT must first have economic value. Launching a mainnet and stabilizing the staking set is the first step in establishing economic value.

Mainnet 1, as shared previously, is a minimum viable product with three core objectives:

  • Launch with 64 validators
  • Ensure platform stability
  • Enable staking model to earn rewards

Post Mainnet 1 Launch and after The Akashian Challenge: Phase 3 Testnet in October, the network will vote to enable our deployment functionality.  After bootstrapping of our network is complete, we’ll begin work on the Akash economic model, which incentivizes providers to offer lower prices, and incentivizes stakers to participate in the network over the longer term. 

Other notable networks that run on Cosmos Network’s economic model are:

  • Kava
  • Band
  • eMoney

For more information on Akash’s token economic model, please check out our whitepaper.

Latest Stories