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Incentivized Testnet Launch — Node & App Partner Program

After over 18 months of development, we are excited to announce that the Pocket incentivized testnet is ready to launch!
Incentivized Testnet Launch — Node & App Partner Program

After over 18 months of development, we are excited to announce that the Pocket incentivized testnet is ready to launch!

The launch of the testnet will be rolled out in two phases:

  • The first phase will include a smaller focused group of node operators and application developers who will help with the testing of the initial validation and security parameters within the network. This phase will include a preliminary permissioned implementation of the Pocket blockchain along with the Pocket coordination layer.
  • The second phase will begin the following month with a larger set of validators and node operators. The goal of the second phase is to, once again, test validation and security, but under a more hostile environment by scaling up the amount of activity and relays flowing through the network. In parallel to these testnet phases, we will also be running our own thorough audit, as well as contracting a third-party firm in order to ensure the security of the network in preparation for the Pocket Network Mainnet later this year.

You are invited to join us on our journey to launch the first trustless and decentralized API layer for all blockchain applications!

What is Pocket Network?

Pocket is a trustless API layer for blockchain applications designed to coordinate API requests across a decentralized network of full-node operations, which leverages crypto-economics to cut the cost of coordination while ensuring maximum resiliency.

During the “Pocket Core MVP” release phase this past year, Pocket proved its relay capabilities by coordinating requests between various blockchains and applications and has resulted in partnerships with blockchains such as OAN (formerally AION), Icon, Tezos and POA, with up to 10m API requests in a given day.

Pocket is trusted by prominent applications such as Portis, MyEtherWallet, Nifty Wallet, and Pokketo Cash, and is supported by nodes run by Quiknode, Figment Networks, and more.

At maturity, Pocket will be a globally-distributed, redundant-by-design network, providing decentralized infrastructure at a fraction of the current cost.

See here to access the whitepaper.

What is POKT?

Pocket Network is an independent, application-specific blockchain. It is a Proof-of-Stake (PoS) protocol using the Tendermint consensus engine with a native cryptocurrency, denominated as “POKT”. Both Applications and Service Nodes must stake POKT to access or provide work to Pocket Network.

For Applications utilizing the Pocket network, POKT represents an ongoing right to an allocation of the network’s throughput, whereas, for Service Nodes, POKT represents a right to provide ongoing work on the network and the future inflation rewards for performing that work.

The monetary policy of Pocket Network is designed to enable a sustainable infrastructure service that is capable of supporting scalable and resilient node infrastructure for any blockchain.

See here to read an overview of Pocket’s economics.

The paper describes Pocket Network’s “crypto-economic game” which incentivizes rational, economically-driven actors to service API relay requests for application developers, thereby allowing the supply-side of the network to self-organize to fulfil the demand, and ultimately for the network to operate at Infinite Scale.

Why join the Pocket incentivized testnet?

Although the demand for API requests is growing at an average of 566% month over month since June 2019, the Pocket team is keen to accelerate this growth and ramp up its efforts to onboard application developers and node providers onto the network before the upcoming Mainnet launch, slated for later this year.

Quarterly Projected Growth API Relays

Participants in the incentivized testnet will have the exciting opportunity to be granted Pocket’s native protocol token, POKT, for use at the mainnet launch.

At launch, those with POKT will be able to stake it, and (if they are an application developer) demand Relays, or (if they are a Node Provider) earn the right to serve Relays on the network and receive the inflation rewards for performing that work. The incentives for early participants are healthy!

Network Launch Schedule

Pocket Testnet — February 11th, 2020

Pocket Incentivised Testnet — April 2020

Pocket Incentivised Testnet CutOff — June 30th (full rewards) / July 8th (discretionary rewards)

Pocket Genesis File Deadline — July 8th, 2020

Public Mainnet — July 28th, 2020

What kind of innovators are we looking for?

For experienced Node-Operators.

We are looking for operators who have experience running mission-critical network infrastructure with an interest in running node infrastructure to help bootstrap the Pocket Network. Ideally, you will have some experience with crypto networks and the wider crypto space in general. This opportunity is particularly suited to staking-as-a-service providers or anyone already running significant blockchain node infrastructure, but we are very keen on working with individuals from all scales to contribute to creating the most diverse node network available.

>> Apply as a Node <<

For Mission-aligned applications.

In addition, we are looking for developers who want to make their application resilient, scalable, and secure by integrating Pocket using our SDKs. Reach out to the application business development team at bizdev@pokt.network to get started and make your application truly decentralized without sacrificing efficiency or cost.

>> Apply as an App <<

The benefits of Pocket Network for you

1. It’s Actually Decentralized

Pocket Network’s model enables a truly redundant network by coordinating requests through a decentralized network of nodes, as opposed to a single node provider. Applications supported by the network pay for their relay requests over time through network inflation which, in turn, compensates the node operators for their work through the newly issued inflation rewards. Full-blockchain node counts are rapidly decreasing across the industry and centralizing into single-service cloud solutions. Pocket Network and its ecosystem of future-minded partners are working to reverse that trend while providing an affordable, reliable and decentralized relay network.

Ultimately, Pocket Network’s decentralized protocol is minimally extractive meaning that maximum benefit accrues to the marketplace participants rather than the marketplace itself.

2. Blockchain agnostic design

With Pocket’s blockchain agnostic design, Pocket allows node operators to run nodes for any blockchain with all work coordinated through a single interface. This gives developers the ability to connect their applications to a decentralized network of full-node operators. Nodes earn POKT for servicing relays for any supported blockchain, while apps stake POKT for daily allotted API relay throughput. Pocket Network can support applications regardless of which blockchain they choose to develop on, enabling open relay networks for those previously underserved.

3. Open Infrastructure Market

By building an open market for blockchain infrastructure, infrastructure providers can access previously inaccessible work by using the Pocket Network as a distribution channel. By participating in the network, Node operators can scale their infrastructure as they see demand on the network rise and monitor the network for new opportunities across different blockchains.

4. Lower Cost Infrastructure

By removing the reliance on only high-cost, single-service providers. Pocket provides a highly redundant node hosting layer, at a significantly lower cost. With no lock-in contracts or packages, scale your infrastructure or application with the network as you grow.

Estimated $ cost at launch — $25 per month — 400k API requests

Estimated earnings per relay request served — 0.01 POKT

Testnet Partner Incentives

The Pocket Testnet Incentives will launch with up to 25m POKT available.

The cutoff date to participate in incentivized testnet in order to earn full POKT rewards is June 30th, with July 8th as the cutoff date for discretionary rewards. Make sure you have either begun running a node or deployed an app providing relays to the protocol before July 8th, and continue to do so until mainnet launches.

To make sure you receive your rewards at mainnet launch, you must create an account using the Pocket Wallet to be included in the Genesis File by July 8th at the latest.

More details can be found here.

1. Nodes 50% — Up to 12.5m POKT

a. Active and reporting as a node for a month during testnet

  • 15k POKT

b. Active and reporting as a node for a second month during testnet

  • 10k POKT

c. Active and reporting as a node for a third month during testnet

  • 10k POKT

A month equals any 30-day window of participation from the time a node operator successfully spins up a node, fills out the node ops form, and makes an announcement in the#incentivizedtestnet channel on our Discord server. The uptime window commences after the announcement “I am now a #noderunner! <Node Public Address><Chains Supported” is made. It helps the Pocket team monitor rewards and provide support.

d. In the top 10% of the number of relays serviced

  • 50k POKT

**Updated 06/29/2020 to clarify reward participation and distribution**

The additional 50k POKT bonus for the highest relays serviced was the incentivize to run additional nodes because that increases your chances to participate in a session and service relays. It was not meant to be a double-dip into the program rewards.

Since this wasn’t clear enough and because we don’t want to stiff genuine people from engaging with the protocol in preparation for mainnet, here is what we decided:

We will grant up to three 15k POKT rewards for individual node setups, per user (NOT the continuation rewards, that remains limited to one node per user), that meets the 30-day participation requirement. There will be a verification process to mitigate potential exploits to this.

We landed on this decision because POKT (and by extension the incentivized testnet rewards) is for the purpose of using Pocket Network. So, with only 3 staking addresses available to participants in the Genesis File, the cap will reflect that and will be limited to 3 as well.

If you intend to claim this reward by spinning up new nodes now (last date for full rewards is June 30th), you will need to refill the incentivized testnet form and confirm your new addresses to be verified for the Genesis File.

2. Applications 20% — Up to 5m POKT

a. Active for a month of testnet — Up to 10K POKT

  • POKT rewards granted proportionally to the number of relays generated by the application relative to the total network relays

b. Active for two months of testnet — Up to 15K POKT

  • POKT rewards granted proportionally to the number of relays generated by the application relative to the total network relays

c. Active for three months of testnet — Up to 20K POKT

  • POKT rewards granted proportionally to the number of relays generated by the application relative to the total network relays

For example, two months of application relay activity would comprise of rewards from the first month (up to 10k POKT) plus the second month (up to 5k POKT) for a total of up to 15k POKT.

3. Bug Bounty 20% — Up to 5m POKT

a. Low Risk — 12.5k POKT

b. Medium Risk — 25k POKT

c. High Risk — 50k POKT

d. Critical Risk — 250k POKT

  • Zero-knowledge range proof
  • Merkle sum tree
  • Inflation attacks
  • Collusion attacks

More information about the bug bounty can be found >>here<<.

4. Referral Program 10% — 2.5m POKT

a. Switch applications across to the Pocket Network (30+ days and provide proof)

  • 100k — 1M API req a day @ 5k POKT
  • 1M+ @ 15k POKT

5. Community Programs — to be allocated from unused 25m POKT allocation

a. These community grants and badges will be fluid and issued at the discretion of the Pocket people and teams in the trenches that want to recognize a star contributor going above and beyond the above.

  • Self-Taught
  • Teaches others
  • Creates developer content
  • Collaborates on the improvement on key code/artifacts

There will be a separate grant programme (to be announced in due course!) for ecosystem tooling such as Block explorers, Improved Interfaces, Node Operator pools and open software to allow global nodes to move their work to geographically closer instances.

For any other questions, feel free to drop us a message in our discord channel.

We look forward to having you as part of Pocket Network!