Incentivised Testnet Update

gm gm Resource Providers

After multiple fixes for the recent issues with Resource Providers not receiving rewards on the Incentivised Testnet, we’ve decided to temporarily pause the system. This pause will help address scaling challenges in the Lilybit rewards system and make necessary enhancements for Mainnet.

During the IncentiveNet pause, we’ll rework the rewards system to resolve outstanding issues, with no expectation for Resource Providers to maintain uptime while points aren’t issued. We’ve started reworking the backend, and the rewards calculation will align with Mainnet goals, including a job-based mechanism to simulate the future rewards system.

• The Lilybit InventiveNet rewards will pause on Monday Dec/16/2024 and is expected to resume in mid to late January.
• A retroactive drop of Lilybits will be given to RPs missing rewards through no fault of their own up to Dec/16/2024.
• A snapshot will occur after the retro-drop to record Lilybit rewards earned by each RP. RPs will not lose Lilybits during the IncentiveNet pause.
• TestNet (IncentiveNet) will run with a small beta group of up to 20 RPs earning limited rewards during this time.
• The intention of the small beta group is to ensure TestNet can consistently run jobs. We will need RPs who are able to test and can share details about their deployment.
• When the rewards system is resumed, we will announce that Resource Providers can join the public IncentiveNet.
• RPs that do not return to running on the TestNet (IncentiveNet) when the public rewards begins will be subject to slashing.
• Lilybits earned in phases 1-6 will not be included in slashing as thanks to early network supporters.

Applications for the beta program are open now via this form https://lilypad.team/betaprog

Stay tuned for more updates as we continue to work on the re-architecture of the rewards system. Thanks for your continued support and patience as we work towards improving the system!