Announcing Cere Network Early Mainnet Staking!
After years of development and thorough testing by the Cere Extended Developer community, the Cere team is now gradually opening up its mainnet and adjacent early mainnet staking to a limited number of participants!
Currently, the Cere mainnet is in Private Alpha state. Over the last 6 months, we have been driving operations to get Cere Mainnet ready for its Public Beta release. During these months we increased the Cere native token supply on the Private Mainnet Alpha, improved the security of the network, ran simulations, increased decentralization by adding new external validator nodes -run by our members from the Extended Developer Program- and developed numerous tools to monitor and interact with the network.
Amongst these tools is a private one-way bridge to transfer Cere tokens from ERC-20 to Cere Mainnet. Currently, only whitelisted ERC-20 addresses can transfer tokens over the Cere bridge. We are currently developing a two-way bridge to enable everyone to stake native Cere tokens on the Cere Mainnet. Until the release of the two-way bridge, it won’t be possible for investors to transfer their Cere tokens back to ERC20 tokens. By following best engineering and blockchain practices, the team is planning to be ready for Beta release in Q1 2022.
Today, we’re inviting Cere ecosystem participants such as community members, EDP-participants, private investors, channel partners, companies, and other Cere friends to submit their interest in the Cere staking program and be amongst the first to benefit from staking their tokens on Cere Mainnet!
The Cere team aims to reach the following milestones by March 1st, 2022:
- 250M Staked on Cere Mainnet
- 40 Validators (< 30% Cere Validators)
- 13% APR
Submit your interest to join the staking pool now, or refresh your memory on the Cere token utility use cases below first!
The Cere token use case 1: Network security & governance
Cere tokens can be staked by validators and node operators, who are incentivized and rewarded to act in the best interest of the Cere Network through the issuance of additional Cere tokens. Staking and ensuring consensus on the network ensures network security while encouraging token holder participation and good behavior by the node operators.
Next to that, Cere tokens confer governance voting rights, through which the participants will be able to participate in voting on future features and parameters of the Cere network.
The use of CERE tokens throughout the network will provide a positive feedback incentive structure among participants, where fees and stakes will be paid out upon satisfactory outcome, and with the conditions of the contracts and transactions being met.
The Cere token framework is designed to make Cere maximally trustless and scalable. Honest behavior is incentivized and rewarded at every level of the network, and dishonest behavior is punished through the slashing of their stake, all without relying on a central policing authority.
The Cere token use case 2: Powering the Cere DDC
Next to securing the Cere mainnet, the Cere token also powers the Cere’s Decentralized Data Cloud (DDC), which can be used to securely share data for businesses, developers, and token holders.
Cere is leading the pack in the Web3-space on the premise of “Your key, your data”, similar to “Your key, your Bitcoin”: Cere provides the tools and solution to securely store, access, and use these data for all participants. Cere tokens provide security, utility, and incentives to this DDC and its smart contract.
One of the perfect, already demonstrated, use cases for the overarching Cere narrative (“Your key, your data”) is that NFT backed assets can be stored in Cere DDC, and made accessible only to the new owner as the NFT token is transferred (in one atomic transaction), as we have recently demonstrated with Cere Freeport.
Want to dive deeper into Cere Network? Start exploring!