Swan Chain has announced the release of its new Computing Provider (CP) version v1.0.0 ahead of the Token Generation Event (TGE). The update includes a range of new functionalities and requirements for network participants.
Full $SWAN Stake Requirement for Rewards
The new CP version requires full staking of $SWAN tokens for UBI task rewards. This mandatory requirement ensures providers' commitment. Additionally, a slashing mechanism has been introduced for further network participants, which should increase its reliability and efficiency.
Settlement Scheme and $SWANU Exchange
The UBI settlement period will take place on December 17, 2024, from 02:00 to 06:00 UTC. During this time, users will be able to exchange their $SWANU collateral for $SWAN. However, early withdrawal might reduce the maximum share in UBI distribution.
Significance of the Update for Swan Chain
This update marks an important milestone for Swan Chain ahead of the TGE, as it solidifies provider participation in the reward system and enhances network operation.
The CP version v1.0.0 update underscores Swan Chain's steps toward improved network reliability and efficiency, which is crucial for the upcoming token generation event.
