Goracle: Blasting Off into the Future!
We are excited to announce that Goracle, a complex network comprising smart contracts, node software, and feed providers, is going live. The launch is setup in phases. Each step is crucial in ensuring the network’s security and seamless operation. Let’s take a closer look at what each phase entails.
Phase 1 — Launching the Core Smart Contract — Complete
The first phase kicks off with the deployment of the core smart contracts on-chain. These smart contracts enable node runners to stake and vote, while customers can make request/responses. During the initial 3–5 days, the Goracle team will be the sole node runners, ensuring a smooth start to the network. Because any potential change to smart contracts require rework by the Validators, this decision was made to reduce any potential friction
Phase 2 — Introducing the GORA Token & Onboarding Institutional Validators — Complete
In the next step, we introduce the GORA token. Before our institutional node runner partners can come on board, the GORA token needs to be in circulation, providing them with sufficient tokens for staking. Institutional node runners typically operate high-performance bare metal servers, guaranteeing exceptional uptime and offering robust customer service to facilitate seamless operation during the initial phase.
To ensure network stability, we have set a higher minimum stake requirement of 10,000 GORA tokens, limiting the number of participants. This approach allows for easier updates and maintenance post mainnet launch.
Phase 3 — Launching the Delegator Program
Once the node software has stabilized on the mainnet, Goracle will open the Delegation Program to the wider public. We will begin inviting vesting and other token holders to start delegating their tokens to the validators that are up and running.
Phase 4 — Expanding the Node Runner Program
While the node runner program is permissionless, the initial minimum stake requirement of 10,000 GORA tokens limits participation for many individuals. However, as the network gains stability and grows, we will gradually lower the minimum stake requirement. This adjustment will allow node runners with smaller stake amounts to join the network, fostering inclusivity and decentralization.
We are thrilled to embark on this exciting journey with Goracle, and we look forward to witnessing its growth and impact. Stay tuned for more updates as we continue to push the boundaries of decentralized oracle technology.
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