CrossFi Successfully Launches EVM Testnet on Coinlist

Feb 23, 2024, San Francisco

On Feb 20th, 2024 CrossFi successfully launched its EVM Testnet on Coinlist. In a first for the company, we launched a three-month campaign for validators, developers, and users with over $8.4M in MPX as rewards. The campaign's objective is to test the functionality, performance and security of the CrossFi Chain network before the mainnet launch later this year.

We saw an amazing response from the community, with over 2,000 applications from validators in the first 24 hours. The total reward breakdown is as follows:

Rewards

How to Get into the Top Validators

The first stage of Testnet is aimed at Validators. The goal is to create a robust and secure network by engaging validators who possess the necessary technical expertise and resources to help ensure the smooth functioning and stability of the EVM Testnet.

Currently, the maximum number of active validators in the CrossFi Chain is limited to 64. The main eligibility criteria for the Validator Grant Program is being one of the top 64 validators. The rating reflects the total MPX staking amount. Thus, validators must sustain a loyal community and attract new audiences to grow and support node TVL (total value locked). Validators’ main objective is to validate blocks for rewards in XFI. For the network, the reliability and dependability of the validators’ operations are as important as delegating MPX coins. Thus, being in the top 64 is a prerequisite to being accepted into the Grant Program.

Validator’s Criteria

The higher the metrics, the higher the chances for the validator to be on top:

How to Participate for Validators

1. Submit an application: Fill out our 11-question application.
2. Join the Dev Community: selected teams and individuals will be invited to the developers’ Telegram and/or Discord chats.
3. Get the test MPX Coins: You can always get professional support from our team 24/7 and claim MPX testing coins in the developers’ chats. For that, please create the wallet at the Test XFI Console and send the address in the following format: mx1….
4. Run a validator: please read the CrossFi Chain technical documentation and follow simple instructions to start.
5. Compete: Stay in the top 64 testnet active validators to win high-value prizes.

The second stage is for Developers and then users. As we move down the funnel of this campaign, we will update our community on the progress. 

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