We are launching our Testnet on 31 May, what does that mean and what can you expect?
Firstly, let’s talk about what a Testnet actually is and why it is an important step in our path to Mainnet.
Testnet is our beta version of Mainnet. It is a crucial part of our development lifecycle, providing a sandbox environment to ensure the stability and security of all our services and applications before live deployment. This ensures that any bugs or issues can be identified and resolved prior to Mainnet, keeping our users and their assets safe.
Our Testnet will have the latest code base, however, any tokens used or transacted on Testnet do not have real-world value. RBNT will be distributed by Redbelly directly to developers and our partners to be used for testing.
How do you get access to Testnet?
To participate on the Testnet network you will need to join via our Access DApp. This will involve completing an ID verification process, which we will use to perform a full check of your identity, as well as following our legal obligations to ensure that you are not flagged on any Anti Money Laundering (AML) or Counter Terrorism Financing (CTF) registers.
We will do these checks using the information you provide from your government issued Passport, and once all checks are completed you will be granted access to the network. It might seem like a high security level for a Testnet, but the advantage is that once they’re issued, you won’t have to generate new verified credentials for access to Mainnet. You will automatically be able to grant yourself access to mainnet once it is launched, meaning you only have to perform these checks once.
At this stage, the identification process in our Access DApp can only accept Passport credentials. If you do not have a passport, don’t worry. We are working on broadening the list of accepted credentials as a priority, which will include the ability to accept other Government issued identity documents such as National IDs and Drivers’ licenses.
What can you expect to see in Testnet?
31 May 2024
Our new code base will be launched and open for testing. User onboarding will begin via our Access DApp.
Week 1: w/c 3 June 2024
To ensure that Testnet operates correctly, we will spend most of the first week onboarding our many different types of partners, so that the services essential to our network are up and running for subsequent testing and use by DApps.
This will mean onboarding services such as RPC endpoints, Explorers, Indexers, etc and, of course, our customer RWA tokenisation platforms.
Week 2: w/c 10 June 2024
This is when the fun starts! We will be launching a real estate game where you will be able to buy different properties, take insurance for your tokens, sell property tokens, and claim insurance amounts when property prices drop due to a disaster (yes, you read that right)! The goal of the game will be to accumulate as much property as you can by buying property tokens and have fun! So go checkout our game and make sure you read our documentation if you get stuck.
We will also be launching new and interactive Galxe and Zealy quests which will focus on Testnet activities and there will be many associated rewards.
Ongoing:
We will be continuously onboarding new partners and launching associated quests to encourage interaction on the network.
We will keep the quests engaging and varied to give you a true experience of what RWA are all about. These quests will stimulate usage and transactions, allowing us to stress test our network and reward engagement.
What if I don't have a passport?
We understand that a number of our community may not have a passport and therefore will be unable to access the Testnet at launch or participate in the first quests. Fear not! We will be keeping all the Galxe quests open until well after we can accept other Government issued identity documents; so everyone will have fair and equal access to the quests before they close.
However, Zealy quests will be more focused around social media activities so these will close from time to time. These quests will be designed to foster participation for the larger Community whilst we enable additional Government issued identity documents.
Will there be a Bug Bounty during Testnet?
Yes. Our Bug Bounty program will reward our community members for reporting security vulnerabilities, in exchange for a number of RBNT tokens based on the severity and impact of the bugs discovered.
The full details of our Bug Bounty program will be released shortly.
What is happening to Devnet?
In the short term, Devnet will continue to run, however ultimately our Devnet will be retired. Exactly when it will be retired will be determined by the success of Testnet.
Are Node Operators moving to Testnet?
Firstly, we wish to thank each and every one of our Devnet Node Operators for their efforts. We understand Devnet has been running for a while, and we will be rewarding your dedication with Node Operator incentives as outlined in our Node Operator Program. Your hard work and commitment have been invaluable, and we are excited to continue this journey together.
For our initial Testnet launch we will only be utilising Redbelly operated nodes; no external nodes will be onboarded for the first phase. However, we will migrate selected Node Operators as candidates over to Testnet to help test the scalability of the network.
After onboarding Node Operators as candidates, we will periodically reconfigure the network to promote 49 candidates to governors. These governors will receive RBNT for testing purposes, these will hold no value. The active candidates and governors who contribute to the Testnet's success will transition to the Mainnet, where their RBNT rewards will have real value. Following the Mainnet launch, we will keep increasing the number of candidates and governors on the Mainnet.
All existing Node Operators will be contacted and reviewed as part of this process. We will ensure that everyone is kept informed at every stage, providing regular updates and clear communication. It is really important to maintain your node so we can accurately evaluate performance and reliability. Your participation and commitment are vital to the success of our network, and we are grateful for your continued support and collaboration.
Will Grants be available?
Yes! We are inviting all aspiring developers to apply for a grant and bring their innovative ideas to life with the launch of the Redbelly Testnet. Our grants will be open to everyone, with submissions carefully evaluated to ensure they align with our vision of unlocking the $16 trillion Real World Assets market by 2030.
This includes asset issuers, licensed tokenization platforms, and any dApps looking to deploy on a compliant blockchain. Grants will be milestone-based and awarded in RBNT once our mainnet is live.
Don’t miss this chance to be part of something groundbreaking!
