What's new in TF Grid 3.0.1 – and the path to mainnet!

Dear Community,

We are now for some months in testing mode on our TFGrid 3.x release and we’ve got some updates for you!

Thank you testers and farmers for your time & feedback – the following were some of your requests:

  • Create a better web-based farming calculator (like a widget).
  • The information around farming rewards is not good enough, it’s too complicated.
  • Introduce staking for people to run validator nodes and get rewarded for it.
  • Introduce delegated staking – this means that even if you don’t want to run a validator you can delegate your stake to a validator and be part of the rewards that way.
  • Introduce more governance features on the blockchain itself.
  • The manual needs to be improved.
  • A User Interface would be nice, so more people can use the Grid 3.x.
  • Make it easier to buy TFT.
  • More consistent DNS names for all ThreeFold services.

Here is what we’ve been working on:

TFGrid 3.0.1 new release (devnet and testnet):

  • An admin portal on top of our TF Grid blockchain (called TF Chain): see http://portal.grid.tf.
  • Weblets allow anyone to create web-based widgets and deploy solutions on top of the ThreeFold Grid with 100% decentralization and a nicer UI experience.
  • First Weblets created for VM’s, Kubernetes, Caprover, …
  • A Weblet playground makes it easy for people to play around.
  • Integration with Polkadot extension in chrome.
  • A better explorer interface.
  • http://gettft.com/ website, make it easy for people to buy TFT.
  • Many small improvements and bug fixes.

TF Grid improvements suggested for 3.x farming model & web based widget:

  • The farming reward does no longer start from a minimum price of 0.1 USD per TFT, this leads to potential higher farming reward.
  • The burning default will be 35% to reduce the circulating supply every time usage happens. In case of too much burning happening in the token economy, it can be lowered to 25% once consensus is achieved on the TF DAO (more on this below).
  • Farmers will now only receive TFT for farming, making the reward calculation simple and seamless. This also stresses the utility token aspect of TFT.
  • We have created a web-based widget to simplify the calculation of TFT farming rewards. This widget can be included in any website.
  • We reviewed and simplified the threefold knowledgebase (wiki), explore it here.

Please note the TFGrid 3.x TFT Minting model will only be activated for 3.x farmers and on 3.1 mainnet.

TF Chain 3.1 Validator Nodes

  • The mainnet blockchain of TF Grid 3 will be running blockchain validator nodes hosted by the community. For that we have introduced rewards for running validator nodes.
  • 5% of the TFT used in the utilization of the ThreeFold Grid will be rewarded to the staking pool of validator nodes.
  • Our manual will have instructions on how to run a validator node very soon.
  • It will be a delegate proof of stake model, so you can even stake without having to run your own node.

TF Chain 3.2 will be a DAO = The ThreeFold DAO

  • We are using Parity Substrate as a blockchain layer for our TF Chain. We want to run our governance around the TF Grid as a DAO (Decentralized Autonomous Organization).
  • The Substrate blockchain has enough features to fully decentralize every aspect of the ThreeFold Grid. Our plan is that 100% of our governance is governed by the TF Chain.
  • On the TFT chain we support Binance Smart Chain, Stellar, and we plan on supporting Cosmos and other chains as well in the future.

What do we still need to do for mainnet

  • Staking support on the Blockchain layer (a long-requested feature)
  • Better manuals & tutorials
  • More QA (Quality Assurance) tests
  • Minting support for 3.1 in TF Chain (our blockchain)
  • Upgrade path for Farmers from 2.0 to 3.1 (needs to be easy)
  • Approval by Wisdom Council for DAO mechanism and minting mechanism in TF Chain.

Help us get there faster

  • Help us to test Grid 3.0.1

    • find all the information to get started here.
  • We are looking for people who have time and like to:

    • improve our manual
    • create tutorials (walk-through experiences)
    • create weblets (web-based widgets to make it easy for people to deploy workloads)
    • create a user interface (little bit like Digital Ocean, but on top of our TF Grid of course)
    • Get in touch in the tester community chat here.
  • TFT Grants

  • ThreeFold Foundation has grants available for the above-mentioned projects.

We’re moving fast and look forward to bringing this exciting 3rd release to mainnet soon.

Many thanks from the entire ThreeFold Team!

6 Likes

Thanks for this great post. That is quite some news!

Is there any way to have more information on staking and running validator nodes? For example, will there be a minimum quantity of TFT to have in order to run validator nodes? And if so, do you have any idea what would be that quantity?

Thank you.

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Thank you! Yes, quite a lot going on. Team is working on a staking pool for validator nodes. Nothing more for now, but we’ll continue to share as we have progress.

1 Like