[Mainnet GA] Launch & Migration Plan

IoTeX Mainnet GA

In 2019, IoTeX launched Mainnet Alpha & Mainnet Beta, the initial versions of IoTeX Mainnet that served as incremental steps towards the full-fledged Mainnet General Availability (GA). In this thread, we share the launch and migration plan for IoTeX Mainnet GA, coming in Q2 2020.

Mainnet GA will be a major network upgrade to kick off a new era: IoTeX 2.0. But Mainnet GA is more than just a technology update – it also comprises new governance, tokenomics, and independence for the IoTeX Network. See below for an outline, which will be detailed in the coming months:

Technology

  • Public Blockchain: more decentralized, developer-friendly, and performant than ever
  • Consortium Blockchain: enterprise-ready Blockchain-as-a-Service (BaaS)

Governance & Tokenomics

  • Delegates Program v2.0: new roles and expansion of Consensus Delegates pool
  • Ecosystem Growth: official plans to deploy Ecosystem funds (18% of total supply)
  • Vote-Based Upgrades: tech/governance/other upgrades triggered by voting
  • IoTeX Foundation Grants: formal program for blockchain & IoT developers and ecosystem builders

Independence

  • Native IOTX Only: complete migration from IOTX-E (ERC20) to Native IOTX
  • Scalable Staking: new transaction-based staking rather than smart contract-based

Launch & Migration Calendar

Over the coming months, the IoTeX Network will establish independence as a fully native blockchain – this includes swapping all IOTX-E (ERC20) to Native IOTX and porting the Ethereum staking/voting smart contract to IoTeX blockchain:

  1. :white_check_mark: [Active] IOTX-E (ERC20) to Native IOTX swap is open via ioTube

  2. :white_check_mark: [Active] Major exchanges supporting Native IOTX swap (see thread)

  3. [April/May] ETH-to-IOTX address mapping (optional). Each ETH address has a corresponding IOTX address, which shares the same private key. For those that do NOT have access to their private key (e.g., Ledger/Trezor users), please submit a request to have your existing ETH stakes/votes mapped to a different IOTX address (i.e., NOT your corresponding address). This is mainly for hardware wallet users without access to their private key. Note: if you want your existing ETH stakes/votes to be mapped to your corresponding IOTX address, this will be done by default and no action is required.

  4. [May/June] Staking contract on Ethereum will be frozen and all data from the ETH staking/voting contract will be ported over to the IoTeX Mainnet, after which the IoTeX blockchain will be permanently separated from Ethereum!

  5. [June/July] IOTX-E to IOTX swap via ioTube will remain open for one month after Mainnet GA launch.

Please drop any questions in the comments below, or reach out to an Admin in the IoTeX Telegram Group.

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