ChainX’s first halving is imminent
ChainX has adopted the BTC economic model, meaning the total supply will never be more than 21 million. The difference however is that BTC’s halving is every four years and ChainX’s halving is every two years. Around the end of May, ChainX will usher in its first halving. After the first halving, the development team will no longer receive rewards from block generation, but will still be responsible for ChainX security maintenance and product development. Therefore, May is a bit of a special month for ChainX. Though, that is not the only reason.
Kusama slots auction coming soon
In the early hours of this morning, Polkadot released a new version of Polkadot v0.9.0. This version contains client changes that add the parachain functionality. This means that when all nodes are successfully upgraded to this version, the parachain function will be officially deployed. From gestation to prosperity, the Polkadot ecology is about to usher in the highly anticipated slot auction.
ChainX is ready for its Kusama slot. SherpaX will connect to Kusama as a parachain and fulfill its role as ChainX’s Canary network. As an experimental, authentic and independent R&D Network, SherpaX and ChainX are highly similar in design. Some new technological innovations and ideas will be tested on SherpaX before being deployed to ChainX.
After months of hard work, PolkaX has completed three important technological achievements and will deploy these to SherpaX for joint debugging and rigorous testing. After SherpaX is connected as a Parachain to Kusama, these can be officially launched and used.
2 + 1 joint test network and joint debugging
After several months of hard work, the three development teams of ChainX have completed three important technological achievements in parallel.
One: The BTC cross-chain development team has realized the BTC cross-chain of XBTC2.0. Because Dogecoin and BCH are both forks of Bitcoin, they essentially work the same, meaning the design of XBTC 2.0 can be used for all three blockchains. Essentially, the cross-chain development team has realized a BTC/DOGE/BCH Light Node-based cross-chain.
Two: The ETH cross-chain development team, based on the previous development of Platdot and Bscdot, has completed the cross-chain of ETH and USDT-ERC20.
Three: ChainX launched an on-chain matching DEX when it went online. At present, because of the exhaustion of liquidity, we have realized the design flaw compared to projects like Uniswap AMM’s liquidity. The development team upgraded the ChainX DEX along with this technological trend and changed the on-chain ‘matching transaction pair’ model to an AMM model.
Therefore, in this 2+1 joint test, the 2 bridges of ETH and BTC are joined by the upgraded DEX (like Uniswap’s design). The ETH-based cross-chain gateway includes ETH, BNB, USDT-erc20 and PlatON support. The BTC cross-chain gateway includes BTC, DOGE, and BCH. Together with KSM, DOT and PCX this massively enriches the DOT ecosystem.
At present, the work of our three teams is completed, but they are all independent. To prepare for and welcome ChainX’s first halving and Kusama slot auction, ChainX will launch a joint testnet at the end of May, where the three major achievements mentioned above will be tested and launched together.
This joint testnet is of great significance
With this new functionality, ChainX essentially realized a multi-chain and cross-chain goal. This multi-chain cross-chain would encompass BTC, ETH, BNB, USDT, DOT, KSM, DOGE, BCH, LAT and PCX, breaking the ecological barriers between Ethereum, Bitcoin, and Polkadot, and realizing interoperability.
The possible scale of cross-chain assets is huge. 8 of the 10 biggest currencies today have been bridged to ChainX, opening it up to 80% of the current total market value of all cryptocurrencies.
Through this system, ChainX can provide the liquidity of the top 10 cryptocurrencies to the DOT ecosystem in a single click. The launch of the Polkadot XCMP protocol is imminent. ChainX’s launch of these new features will eliminate the lockout of important assets in their own blockchains and open them up to the DOT Ecosystem. Save for XRP and ADA, this achieves the interoperability of the top 10 cryptocurrencies, adding to this the high potential of PlatON.
2 + 1 network ambassador recruitment soon
This testnet will link Bitcoin, Ethereum, Polkadot and other ecosystems. To better realize the interconnection, we are now recruiting SherpaX ambassadors from the community. Their first objective is to be responsible for the 2+1 test network.
ChainX Community Ambassador Recruitment Scope
The first batch of community ambassadors we are looking for cover the 10 main projects, focusing on cross-chain gateways supporting EVM (including ETH, BNB, USDT-erc20, DOT, KSM, PCX, LAT) and BTC-based cross-chain gateways (including BTC, DOGE, BCH) and launch-related testing work. Adding to them, we’re looking for two community ambassadors to take charge of AMM-related work. For a better overview, we’re looking for experts in the following fields:
1. To participate in the corresponding currency community you need to have sufficient knowledge and understanding of said currency. For example, if you sign up for the SherpaX-LAT community ambassador position, you are required to participate in the construction of the PlatON community and have a full understanding of ChainX and SherpaX.
2. Have full enthusiasm for building communities and contributing to development, fully agree with the ChainX concept and vision, and be willing to contribute to the community at large.
3. Members of the ChainX Community Manager Plan have priority to participate.
Community ambassadors need to complete certain ambassador tasks to help the community grow and develop, and submit work reports regularly, including but not limited to the following tasks:
1. Assist the development team to complete the testing of the corresponding currency;
2. Answer the common questions of the corresponding community and guide the community members to use the functions of the platform correctly;
3. Collect community opinions and feedback, and timely feedback to the development team;
4. Write and produce promotional materials, forward official news, etc.;
5. Organize community activities as needed, both online and offline.
According to the ambassador’s corresponding task completion status, and meet the basic conditions, you can get incentives, as follows:
1. Allowance: according to different completion situations, give ambassador token incentives;
2. Peripheral: get prizes around the project that are regularly launched;
3. Privileges: Priority participation in official activities, direct contact with development and board members, and quick access to important information;
4. Resources: Accumulate high-quality resources and enrich work history.
Fill in the registration form as required and we will contact you.
ChainX, the earliest launched project in Polkadot’s ecosystem, is committed to the research and application of Bitcoin layer 2 expansion, digital asset gateway and Polkadot second-layer relay chain, to realize cross-chain asset exchange, leading the new direction of Bitcoin Cross-DeFi.