Matic Mainnet Update

This week we are starting with a weekly update of the Matic Mainnet. Matic’s mainnet has been launched an running for the past 3 months without any issues.

Our Mainnet is planned to be rolled out in a Phased manner.

Phase 1 - Rolling out the mainnet with Foundation nodes and Dapp Partners. Also, enable delegation on Foundation nodes.

Phase 2 - Onboarding professional validators to the network. The delegation will be disabled for all external validators.

Phase 3 - Opening the network to the community in order to achieve a decentralized network.

Having said this, we successfully completed Phase 1 of our Mainnet rollout and are currently in Phase 2. We are anticipating by the end of September we should be able, to begin with, Phase 3 of the Mainnet rollout.

Following are some of the updates that have happened on the Mainnet since its launch

Bor Upgrade

We have recently upgraded our Bor version on Matic Mainnet. The version upgrade consists of additional opcodes for Bor. All the foundation nodes were the first to get upgraded. Then the Dapp Partners. All external validators are setting up their nodes with the upgraded Bor.

At Block 2722000, all validators successfully got upgraded to the latest version of Bor without any issues.

Delegation on Foundation

Since the launch of the Mainnet, Matic Staking contracts have accumulated over 900+ million Matic tokens in Delegation which is approximately $23 million dollars. The current APY stands at 33%. This is a great achievement for Matic.

Delegation Clarification

Delegation currently is only enabled for the Foundation Nodes. Delegation on Dapp Partners and External Validators is currently disabled. Delegation will be enabled for all Dapp Partners and External validators when the Foundation nodes have been turned off. This will happen during Phase 3 of the mainnet rollout. Before the foundation nodes have been turned off, there will be appropriate announcements made to make sure that delegators can transfer their delegation to other External validators.

Future Upgrades

Heimdall Sync
Currently syncing the Blockchain state for a new validator or full node takes more than 12 hours. We are currently working on an upgrade that will sync the blocks faster.

Node as a Service
We are working with partners to set up nodes as a service where setting your nodes would only be a 2-Step process. We will make further announcements when this is ready.