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Celer state Guardian network 2.0 is officially launched on the main network

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CELR pledgers receive SGN pledge and trading rewards without running nodes.

Source: Celer

Celer State Guardian Network (SGN) 2.0 has been successfully upgraded.SGN 2.0 Providing CELR debtors with a new Staking interface and higher value capture. In addition to the regular PoS pledge rewards, CELR pledgers can also get the multi-chain dApp built based on Celer cross-chain messaging framework (hereinafter referred to as Celer IM) and Celer cBridge transaction fee benefits.

SGN is a PoS blockchain based on Tendermint that uses the same security mechanism as other PoS blockchains like Cosmos and Polygon. As a message router between the various blockchains, SGN facilitates broad messaging and cross-chain money transfers. SGN is a core part of Celer's overall architecture. Celer Network's other products, including Celer cBridge and Celer IM, leverage SGN's PoS security, fast validation and low cost features for cross-chain transactions.

Compared with SGN1.0, SGN2.0 focuses on optimizing its ability to capture value from transactions: in the case of cBridge, SGN captures value based on the size of each transaction it processes in the cBridge pool model; For Celer IM, value capture is based on the size of the cross-chain message.

CELR pledgers receive SGN pledge and trading rewards without running nodes. SGN verifier can preset a certain percentage of commission and extract future pledge and trading rewards of the pledgee in proportion, so that the pledgee can still enjoy the relevant CELR pledge benefits without running the node.

With this SGN2.0 mainnet upgrade iteration, the first SGN1.0 verifiers have successfully migrated to SGN2.0 and are ready for new pledges. From March 16 onwards, to better assist users with pledge migration, withdrawal pledge from SGN1.0 will be completed immediately without a 7-day waiting period.

To complete the migration from SGN1.0 to SGN 2.0, there are three steps:

1, fromSGN 1.0CELR (The tutorial)

2, inSGN 1.0Redeem and withdraw pledge rewards (The tutorial)

3, inSGN 2.0Medium pledge CELR (The tutorial)

SGN 1.0 will stop offering pledge rewards on March 23, 2022, but the withdrawal interface will remain open indefinitely.

For support, please join usDiscord Channel #state-guardian-network-migrationMake your questions and requests. Please note: our customer service team will not take the initiative to privately discuss any of your issues regarding pledge transfer. In the process of CELR pledge migration, be careful of fraud!