Ethereum compatible blockchain scalability platform, SKALE mainnet is set to go live on 30 June 2020. SKALE testnet first went live on May 20 this year and has been up and running seamlessly since then.
In 2019, SKALE revealed plans to create a solution for the Ethereum scalability issue. The solution was scheduled to go live in Q2 of 2020. Despite the ongoing pandemic situation, the team was able to meet up with the stipulated timeline. Hence, SKALE network mainnet will be launched on June 30, 2020, in three stages.
SKALE three-phase launch
The first stage of the launch will be limited without any “bounty, transfer or issuance active on the network”. Phase 1 will commence on June 30 and will majorly be focused on supporting the security and stability of the network. Only validators who have gone through the registration process in April and took part in the testnet will be allowed during this phase.
Referred to as the Proof of Use Period, this phase will commence after Consensys Activate goes live. Tokens will be allocated using the activate platform via a 3 day Dutch Auction. Only early supporters and launch participants will be eligible to receive the tokens. SKALE’S phase 2 will operate in a delegated state. And unlike Phase 1, issuance and bounty will be available for active users on the mainnet. However, token liquidity will still be unavailable.
Phase 2 will furthermore boost network participation as well as security. While also paving the way into Phase 3.
After the stipulated 90 Day Phase 2 period, the mainnet will be open to all users. Crypto tokens can easily be unlocked, transferred, and exchanged on the platform in this phase.
However, according to their official blog post, “all team and early supporter tokens are locked for a period of 6-36 months following the Phase 2 launch”. This is to ensure the network remains viable while completely eliminating all forms of volatility.
In conclusion, even as the stipulated launch date draws closer, interested individuals are advised to stay tuned for any additional information that may be released later.