Odyssey prep network upgrades and will continue to run for a month
On 7.21, Odyssey, a prep network with 1:1 functionality identical to the mainnet, was officially opened. It integrates the core functions of the main network: token staking, decentralized prophecy machine quoting function, data source retrieval function, etc., aiming to create a completely realistic mainnet environment.
After nearly a month of operation, the prep network fixed the account data parsing, event parsing, partial data rollback, and other error problems; improved the module data structure, added price aggregation height and quote interval check, precision parameters, and other modules; at the same time, set the Genesis configuration parameters to facilitate the maintenance management of Odyssey network.
Odyssey Prep Network extended to 9.28
By the operational plan of the prep network, the project has released the cross-link bridge activation tutorial, the main network preparatory network node manual, and the mainnet prep network nominator tutorial. According to the original plan, the Ares mainnet prep network will be ready for operation on 8.28.
However, more and more users have recently wanted to access the verifier nodes. Some verifier nodes also have feedback that the experience time for the Odyssey prep network is shorter because of late access.
After the team’s discussion, a longer time and more nodes to test the prep network are indeed beneficial to the improvement and stability of the network. Therefore, the team decided to fix the problems in the current test of Odyssey Prep Network, complete the latest upgrade and keep it open for one month. That is, the Odyssey Prep Network test will be extended until 9.28. Users interested in becoming a verifier node or nominator can continue to access the network according to the Prep Network tutorial, and your rewards will continue to be calculated.
1. What are the current Odyssey Prep Network reward rules?
On the “target” page, you will see the Odyssey annualized yield in real-time.
Verifier reward ≈ Odyssey annualized yield * Verifier pledge amount
Nominator Bonus ≈ Odyssey Annualized Yield * Nominator Pledge Amount * (1-commission percentage)
The average daily reward issued during the month of the Odyssey Prep Network operation is 80,000 ARES. Rewards are distributed according to the pledges and operation of the nodes; you can check the era earnings and withdraw rewards in real-time on the “payouts” page. Nodes that participate early will get a more generous share of the tips; as the number of nodes increases, the percentage of prizes will be smoothed out daily.
2. Why do I have a waiting situation when I apply to become a validator?
Odyssey Prep Network will collect the offer test data of the validator once every era (4 hours). After one day of successfully submitting test data, the verifier in waiting will officially have a chance to become a validator. If you are still in the waiting area after one day of successful test data submission, you can check the verifier audit status on the AresScan browser. Possible problem: The local verifier set does not match the one set on the chain, suggesting users reset the Session Key.
Details can be found at: https://docs.aresprotocol.io/docs/en/odysseyValidateValidator
Situation 2: The waiting area test seats are full. If the maximum number of Validators is full (e.g., 24/24), you need to raise your pledge to get priority or wait for the Technical Committee members to raise the upper limit of Validators. It is important to note that your patience is required as the Odyssey Prep Network needs to be tested continuously, and a certain number of seats will be opened after the smooth operation.
3. My rewards and pledges, when can I withdraw them?
After becoming a validator or nominator, rewards can be withdrawn in real-time. You can check your era earnings and withdraw your rewards in real-time on the “payouts” page.
To ensure the security and stability of the verifier and nominator, the amount you pledged will need to be withdrawn to your Odyssey account after 28 days.
4. How do I withdraw my advance rewards?
Here we need to remind that the rewards on the “payouts” page are mainly for the nodes running and nominating for general inquiry requests. The Odyssey prep network is also open to getting the price function on the prepayment chain. The validator participating in the prepayment request offer will also get the corresponding era rewards.
Prepayment reward rules
Each payment request will correspond to a specific reward era, and the verifier will collect the reward at the end of the era. The reward calculation rule is “total amount of payments within the era / all points generated within the era * recipient’s points.”
Single point reward = total amount paid in the era/ all points generated in the era
Verifier Bonus = Total amount paid in the era / All points developed in the era * Verifier points
* The rule for point generation is that after a validator responds to a request for a quote, the number of tokens corresponding to the request is calculated and converted into points, which are recorded in the corresponding financial cycle and used for subsequent reward distribution. The maximum number of points generated by a single inquiry = (number of tokens * number of verifiers).
For example, a group of inquiry requests pays 1000 ARES, which is assumed to be recorded as 10 points. If verifiers A, B, C, and D all make an offer, then verifiers A, B, C, and D will each receive 10 points and the maximum number of points generated by this inquiry = 40 points; if only verifier A makes an offer, then A will receive 10 points, and the maximum number of points generated by this inquiry = 10 points.
Prepayment withdrawal bonus page.
On the AresScan browser, select the “Unclaimed Rewards” page, connect your wallet, and click “expand” to view your era reward details. Click on “click to claim” to withdraw your unclaimed era earnings in one click.
5. Will the assets in my Prep Network disappear after the mainnet goes online?
When the Odyssey Prep Network switches to the mainnet, your pledges, rewards, and Odyssey account amounts will be mapped to the mainnet. You will also have the option to perform cross-chain bridge services to withdraw to the ETH or BSC network.
We look forward to your joining us in building the Odyssey Prep Network and contributing to a more robust and secure mainnet!
Ares Protocol is a decentralized cross-chain oracle platform that introduces a truly new generation of cross-chain oracle service protocols with on-chain data verification and is the first to open a compensation channel for data users in case they suffer business losses due to the use of data provided by the oracle.
Ares Protocol is an oracle solution with security using VRF, developed on the Substrate framework, and it supports hybrid Babe and off-chain workers. It integrates Polkadot’s latest on-chain governance, brings the Optimistic Rollup challenge model into the oracle field, supports the Ink contract ecosystem, and brings better oracle services to DeFi Developers.
🌐 Ares Protocol Social Media
Telegram Group: https://t.me/aresprotocollab
Telegram Channel: https://t.me/AresProtocolAnnouncements