M. How to participate in the DMD ecosystem
As we move closer to the DMDv4 mainnet launch by the end of the year, you should get acquainted with the operations coming with the next version of the DMD diamond blockchain.
You are welcome to participate in open beta testing once the version is released in a few weeks. The essence of our open beta version is for you to have real-life, end-user testing of the use cases on top of DMDv4 and provide feedback for consideration before the mainnet release. One of the main tools to check the behaviour and logic of the ecosystem is Diamond-UI Dapp, which includes staking and DAO participation. Therefore, participating in open-beta testing would offer you the avenue to practicalize and get familiar with how the DMDv4 works, how to run a validator node, how to stake on a validator candidate, how epoch rewards are shared between validators and stakers (or delegators) and how to interact with the web-based Diamond-UI dApp.
If you plan to become a validator candidate, it is required you know how to do a complete node installation of the DMDv4 blockchain on a Linux server and the ideal configuration of the DMD diamond version of Open Ethereum, which includes the DMDv4 extensions and HBBFT/POSDAO codebase. Also, an Internet with a Static IP address and a reliable 24/7 uptime is required for a validator node. Here’s a DMDv4 testnet setup guide on setting up and running a node. Don’t forget, that pool creation is available with minimum 10000 DMD to be staked through the Diamond-UI.
If running a full node is not feasible, you can delegate your DMD to an existing validator. This is easier and still earns you rewards proportional to your coin holdings. You need just 100 DMD to start staking. In this case, you can earn rewards as well as participate in dao by either creating proposals or by staking on the validator candidate, who votes on the proposals for all the people who staked on him. This process ensures that decisions are made collectively by the community, rather than being controlled by a central authority. During open beta period you can check all the use cases related to delegate process and give any kind of feedback to the DMD representatives team.
You can also host your project or deploy your smart contract to the open-beta version of the blockchain to test-run the industry-first features promised by the blockchain and provide necessary feedback on what to improve before the mainnet release. Please contact the DMD representatives in case of any questions.
To make the claiming of DMDv4 coins with your existing DMDv3 coins (in a 1:1 manner) easier after the DMDv4 mainnet release, it is advisable you gather all your DMDv3 coins from several addresses into a single address to avoid the stress that may come with repetitive claiming. Such manual claiming is possible for coins held in a DMDv3 wallet, where you have access to the linked private keys. Coins on the exchanges can be claimed with the help of the exchanges that listed us (Bitmart and P2PB2B) – they promised to support our switch to DMDv4. Please read through the DMDv4 coin’s claiming guide to learn how to claim and how it works stepwise. Here’s also the claiming roadmap that describes the timeline for claiming your equivalent DMDv4 coins, or else your coins will ultimately become part of validator rewards.
A way to prepare for the mainnet launch is to ask questions about the blockchain or seek clarifications for further understanding in the community channels. That way, you can comprehend what the blockchain offers and how to maximize those offerings.
