Since Silicoin launched testnet on 23rd Jun, there have been minor successes with many miners and community involvement. The current network space has near reached 1EiB and has been rising steadily.
In the past few days, there have been many questions, discussions, and suggestions about Silicoin. That is why we decided to hold an AMA in discord on 22nd Sep 2021. We are very grateful for the enthusiasm and support from the community, and please join this AMA event if you love this project: https://discord.gg/SjDGBwfS6w
As the community grew, we found that Silicoin is pretty decentralized, in fact. Most of our users are from Europe and North America. It is good, but sometimes it isn’t easy to notify our users that they have to upgrade their Silicoin’s client. Due to the mandatory upgrade once mainnet launches, we inform the community one month in advance. We estimated that Silicoin will enter Tulip phase in the middle of October 2021. In other words, Silicoin will launch the mainnet next month.
In this phase, all test tokens in the testnet are mapped to the mainnet. That is to say, all tSIT is going to exchange to SIT in October. The final ratio is follow the formula: Your SIT = 500,000 SIT / Total tSIT * Your tSIT.
Another thing you have to pay attention to is that staking will be activated once Silicoin mainnet launch. For more details, please read the Silicoin Whitepaper V2.0 and related articles, or join our AMA. We will start to invite our user to do internal testing of staking part from 25th Sep. Everyone who participates in will get some tSIT as rewards.
Last but not least, please stay tuned for the mandatory upgrade, the exchange process from tSIT to SIT and the staking details of Silicoin mainnet. There are many activities in the next coming month and you should not miss them anymore.