Amplitude rollout
Amplitude is the canary network of its sister blockchain Pendulum.
It will act as a testing ground for applications and network parameters for Pendulum. Unlike a traditional testnet, users can interact on the Amplitude chain with real financial consequences. Lots of novel ways of utilizing fiat on DeFi can be experimented with. Amplitude chain will be powered by its native AMPE token.
Amplitude has a phased rollout plan. From sudo to democracy listed below.
Until the road to democratization process is complete, governance is controlled by a sudo account. The sudo account is a multi-sig account controlled by the Pendulum foundation to issue transactions and runtime upgrades. Token transfers are not yet enabled.
Crowdloan AMPE rewards are distributed to the individual Amplitude accounts that contributed to the crowdloan.
The Substrate pallet that we are using for collator and delegator staking requires the rewards to be minted new. However, our max supply of 200m AMPE tokens were minted in the genesis block. Therefore, in order to maintain constant token supply we want to burn the allocation of collator rewards and mint them anew. We will have a referenda to vote on this.
Implementation of the treasury pallet and its configuration is completed through a runtime upgrade.
LDPoS gets introduced to Amplitude. Both collator and delegator staking can go live after this is in place.
Sudo gets removed via a runtime upgrade and from here on the on-chain governance is completely live and fully functional.
Token transfers, previously blocked, will be enabled here.
Last modified 1mo ago