What’s on Our Mind?
In light of recent market movements, the Technical Committee decided to amend the CHER tokenomics to reduce available supply and, consequently, liquid sale pressure on our markets. The Cherry Network management team has a strict policy against taking active market actions as we believe in market efficiency. We are however able to form and vary monetary policy given changing contexts or novel requirements. After an attentive analysis we decided to intervene in such a manner. Full writeup here:
On Wednesday, September 14, 2022, at or around 14:00 UTC, the Cherry Network's Nominated Proof of Stake block validation and consensus system will be upgraded: Network epoch time will be reduced from one every ten minutes to every forty minutes Network session time will be reduced from one every ten minutes to every forty minutes Network era time will be reduced from one every hour to every four hours This small change brings us closer to our Relay Chain launch, expected in 3-5 weeks, and the introduction of a fully EVM-compatible parachain a few weeks thereafter.
~ Herman P Jacobs, a.k.a. Seraphim
Last Week’s Accomplishments:
Final preparations for the upcoming relay chain upgrade. CHER supply cut planned and tested on testnet.
This Week’s Commitments:
Testing continues for relay chain upgrade. Cherrynomic tightening goes live on mainnet.
- Relay chain testing
- EVM compatibility parachain testing
- Blockchain indexer development continued.
- Website redesign planning continued
- Relay chain testing continues
- Tokenomic runtime upgrade
- Blockchain indexer testing
- Website redesign planning continues
- Cherry Labs University launch
- Original Factory development resumes
- Bunkr testing