How to Bridge to Cere Mainnet and Stake

Cere Network’s decentralized data technology ensures every transaction on the blockchain, no matter the volume and frequency, is secure. Businesses, traders, and developers can participate in an evolving ecosystem supported by an efficient network.

The Cere Mainnet is a decentralized platform where the large majority of Validators and Nominators are community members. This collaboration creates a sustainable network that will always remain relevant and responsive to participants of the mainnet.

NOTE: CERE DOESN’T SUPPORT LEDGER TRANSFERS (YET)

CERE token holders on Ethereum/Polygon can bridge them to Cere Mainnet using the following steps:

Users can earn Staking rewards on their token purchase into the $CERE token by participating in the network as a Nominator!

Nominators

Nominators Stake CERE tokens on one or multiple Validators, electing them to run nodes as part of the blockchain infrastructure. In return, Nominators receive a reward percentage from each Validator they elect. One account can be used to Nominate up to a total of 16 Validators.

Mutual Staking between Nominators and their elected Validators is balanced and maintained in the background using the Phragmén method, an automated system that calculates elections based on the amount of tokens Staked. Once Validators are elected, Nominators are then able to regularly check the reward percentage they receive for a given Validator (and claim them!).

To become a Nominator, follow these steps below:

In each era (24-hour period), your Nominators will participate in the election. First-time Nominations in the current era (era 0) can be included in the next era’s active set (era 1). You can claim your rewards from your first Nomination by the start of era 2 at the earliest. If a Validator has multiple Nominations, then it only takes one Nominator to trigger the dispersal of rewards to other Nominators.

To add additional funds or to increase your number of Nominations at any time, select the three-dotted icon in Cere Explorer to perform these actions. Funds can be un-Staked from Nominations three eras after they’re committed.

Stash and controller accounts

Nominators are recommended to set up two separate Substrate wallets on Polkadot.js.

One wallet is used for the stash account that contains the funds that you want to Stake. The second wallet is your controller account which is used to approve your transactions. These two wallets structure increases your security. Your controller account is the key to Bond (Nominate) and Unbond (Remove Nomination).

Your controller account will need to hold some CERE tokens (ca. 5–10 CERE) in order to pay for fees charged for these actions.

Owning two dedicated wallets provides your activity on the Cere Mainnet an extra layer of security.

These substrate wallets can be created on Polkadot.js by performing the following steps:

Lastly, here are some recommendations to consider as you select Validators as part of your Nomination strategy:

For questions about Bridging to the Cere Mainnet or Staking, visit our dedicated Telegram channel @ceretroubleshooting.

About Cere Network

Cere Network is the first Decentralized Data Cloud (DDC) platform built on Substrate and Polygon. Cere is the first Web3 project that facilitates trustless cloud data storage, integration, and data collaboration across blockchain networks, as well as Web3 NFT, metaverse, and gaming content. Cere is backed by the world’s largest institutions and projects, including Binance Labs, Republic Labs, and Polygon.

More information about Cere Network:

Website | Telegram | Twitter | Linkedin |Reddit | Announcement channel

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Cere Network is the first blockchain CRM ecosystem platform optimized for customer data integration and collaboration.