The Matrix Mainnet is Set to Launch!
After what has been a long and winding road filled with many successes — and also a few speedbumps — the launch of the Matrix AI Network Mainnet is imminent. Truth be told, we could not have come this far without the support of the Matrix community. When the testnet launched last October, the Matrix community helped us test Matrix’s IPFS support and AI Server. Later, many who staked masternodes provided invaluable feedback to Matrix’s R&D team. The importance of community support will only increase as, in many ways, the real work is just now beginning!
And so, without further ado, the Matrix team is thrilled to announce that the Matrix AI Network will officially launch on February 28th, 2019!
What to expect in the coming weeks
After the Matrix Mainnet launches on February 28th, 2019, the first several weeks will be dedicated to ensuring the stability and normal operation of the network. This means that, during these initial weeks, all mining and verification masternodes will be deployed by the Matrix team. This will give those community members interested in staking masternodes ample time to comfortably complete their token swap without fear of missing out on early mining and verification incentives. More details about token swap options will be included in a separate announcement.
Community members can also keep an eye on the mainnet’s status via the Matrix Blockchain Browser. Please be forewarned that the displayed TPS during this initial period is expected to be relatively low. This is not a reflection of network capacity but rather a reflection of the total number of transactions. Over the coming weeks, as the Matrix team ensures the stability of the network, the Matrix Mainnet will demonstrate a network throughput speed in excess of 5000 TPS.
What happens to these early block rewards?
As the initial nodes will all be run by Matrix, there is the issue of early block rewards. The block rewards earned during this initial several weeks will largely be returned to the ecosystem. However, please note that as we cannot yet say exactly how many tokens will be mined, the numbers listed below are subject to slight adjustments. Additionally, an estimated 400,000 MAN tokens will be used to cover operational costs. The rest of the block rewards will be used as follows:
1. Mainnet Airdrop [1,000,000 MAN tokens]
A total of 1,000,000 MAN tokens will be distributed to every person who has completed their token swap once mining and verification masternodes are open. The amount that each person receives will be random.
2. Early Mining Masternode Incentive [200,000 MAN tokens]
200,000 MAN tokens will be distributed to the first 200 people to stake mining masternodes and remain online for 100,000 blocks (cumulative). This equates to 1000 MAN tokens per person.
3. Early Verification Masternode Incentive [200,000 MAN tokens]
200,000 MAN tokens will be distributed to the first 100 people to stake verification masternodes and remain online for 100,000 blocks (cumulative). This equates to 2000 MAN tokens per person.
4. Testnet Participation Appreciation [Estimated 300,000 MAN tokens]
Everyone who applied for test tokens before February 22nd, 2019 will receive 500 MAN tokens each.
5. Token Burn [Estimated 2,000,000 MAN tokens]
For the overall benefit of the ecosystem, the Matrix AI Network will burn an estimated 2,000,000 MAN tokens.
6. The Balance
The remaining tokens mined during this initial several weeks will be put towards the further development of the Matrix AI Network including but not limited to AI research projects. Once the total number of MAN tokens mined during this initial period is known, the Matrix AI Network will be able to share more specifics about these development activities.
From the earliest conception of the Matrix AI Network in 2016 to the present, the development of the Matrix AI Network has been inseparable from the support and encouragement of each and everyone member of our community. We look forward to several more years of collaboration as we do everything in our power to change the world.
Please stay tuned for more announcements and information about early DAPPs, AI Server, blockchain-powered projects, token swap options and when you can start staking your masternodes!