Proof of Steak: Latest Rewards Distributed and Beacon Chain Pause
News from the RAVEN Coin Development team on August 1, 2022
Dear Raven Protocol Community,
The June 2022 Staking Period was completed and it was a success! We would like to give a shout out to Samüs from SpartanProtocol.org. He is one of the few developers in the world still ensuring that all projects building on BNB Chain still have the tools they need to automate tasks on-chain. Thank you!
Total Stakers: 259 Total Staked: 1,234,488,590 RAVEN Total Rewarded: 12,344,883 RAVEN Circulating Supply: ~3B RAVEN
Starting from August 1, 2022, we will pause BEP-2 (Beacon Chain) staking and start to explore BEP-20 (Binance Smart Chain). This is due to the latest BEP-151 proposal to decomission Binance DEX. While Beacon Chain will be the staking and governance layer for BSC, the upcoming Ravenverse will focus on EVM compatibility and thus our decision is to pause BEP-2 staking.
Motivation from the Proposal
BNB Beacon Chain(BC) is a blockchain developed by the BNB Chain community that implements a vision of a decentralized exchange (DEX) for digital assets. The heart of Beacon Chain is a highly performant matching engine built on distributed consensus that aims to replicate the < 1 second trading efficiency of current centralized exchanges.
Since BNB Smart Chain’s(BSC) launch to mainnet in 2020, the AMM based decentralized exchanges gain great success on BSC which even steal the thunder of order-book based DEX on BC. BC and BSC is a dual chain structure, with the evolution of this structure, BC plays more like a Beacon Chain that helps to enhance the security of BSC as a staking and governance layer. It is not suitable for a Beacon Chain to sustain a high-performance DEX any longer, especially when there is another DEX with massive adoption in the same ecosystem.
Decommissioning the DEX module will reduce the need for system resources significantly for both validators and full nodes. The demand for liquidation can be fulfilled by BNB Smart Chain or the upcoming zkBAS.
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