Weekly Update: W/C 22nd February, 2021

Hi everyone 👋

TNC have shared the following letter with us, which they are happy for us to share with you as well:

https://drive.google.com/file/d/1E3B2wf9VWGTBKcMu6JOPlcT1fdTGOJDV

We’ve had confirmation that 3% will be the baseline. Good performance in the market will result in this being raised further. We’ve also had confirmation that all 13 exchanges will be available day #1.

We know you’ll be frustrated by the further delay, but hang tight, there’s light at the end of the tunnel.

Please note that the swap process will be coming to a close soon. The original date was the 26th of March 2021. We’re adding a two month grace period to this, meaning that the swap window will close three months today on Thursday, 27 May 2021.

Thank you for being on this journey with us. We’ve made amazing progress with the platform and are excited for what 2021+ holds.

Chris Mair:

As we’ve been discussing over the past few weeks, the rollout of the $EDGE token is pushing ahead apace.

Over the next few weeks we’ll be providing a lot of additional information about the plans for the token, including detail on how staking will work and what governance looks like. We’ll also be talking about coming changes to help strengthen and grow the Edge community.

In the meantime we wanted to take a moment to provide the broad timelines for $EDGE getting back into the market.

The timeline for the rollout of $EDGE is as follows.

$EDGE contract launch and token minting:

• Ready to go
• In plan for the end of the second week of March

Staking contract launch:

• In security testing
• In plan for the second week of March

Stake migration:

• Process starts early April

Token distribution:

• In testing
• In plan for the end of March

Governance contract launch:

• Being integrated
• In plan for April

Referral programme launch:

• In plan for April

Please note that these timings are subject to change. (Things come up when you’re building!)

And to reiterate, we’ll be providing a lot of detail on the individual items above over the coming weeks. As we’ve mentioned previously, the relaunch of $EDGE will be happening regardless of how the TNC unlock plays out. We remain confident that the things will progress as planned, in which case we’ll reissue $EDGE with the support of TNC.

And if unlock doesn’t go as planned we’ll be reissuing $EDGE just with recut tokenomics, but without the involvement of TNC.

Either way we remain super confident of what lies ahead. Exciting times indeed.

Joseph Denne:

In other news… we kicked off our social engagement campaign, the outputs of which you will start to see over the coming days and weeks.

The Edit team moved forward the implementation of two new subscription builds.

The network team finalised the staking contract and are in testing. There’s a direct network integration which synchronises stakes from the chain to the network, which allows the enabling and disabling of contributed devices on the network as the stakes change.

Integration with the contract is being added to Console.

We’ve addressed an issue with the existing pinger package which is used to identify the nearest devices and will be deploying a fix for this to test.network next week.

As part of an enhancement to the Gateway queue we’ve been working on a new Worker Pool package which is designed to act as an internal pub/sub interface to the atomicstore - a public package we released earlier this year. The Edge Worker package is in its final testing and documentation stage.

Stargate has been updated to use the Worker package which has already significantly reduced memory usage and CPU load.

A number of fixes relating to the docker package have been deployed on test.network, including an issue where a poor connection to a Gateway could cause Hosts to temporarily spin up multiple CDN containers. This issue had no effect on performance, but slowed down the boot process by a number of seconds.

Gateway is now passing minute-by-minute stats updates to Stargate for Host work, which in turn is stored in the network API.

The Gateway load balanced queue has been successfully tested and will be released into production on the 08th March, along with a new version of edge-cli.

The edge-cli release will use a new naming convention, finally moving away from arch based images names (e.g. agent-amd64, agent-arm) to a unified docker manifest, where all releases of agent will exist under one path. The edge-cli release now only accepts the new format.

And finally, we completed a research project relating to the energy efficiency of the Edge Network and the potential that it has for a positive impact on climate change. The work looked at individual services, drawing comparisons with traditional cloud-based alternatives. The outputs are very compelling. We’ll be sharing them soon.

And that’s it for this week.

Enjoy your weekends.