Hey CFG community - get ready for the Centrifuge parachain launch!
Detailed below is what this launch process will look like. Read on to learn more about CFG claims, new features, downtime to expect, and how to prepare for the parachain launch!
Remember - just like Altair, the parachain launches as an empty shell tomorrow, March 11. So don’t worry, you have time to prepare.
Update: The core migration is complete. At this point token holders are asked to elect council members for the new council on the Centrifuge parachain. Crowdloan claims are live.
A fix to enable claims for Parallel, Bifrost, and Equilibrium users is expected to be live by May 6
Because Centrifuge chain is already live as a standalone PoS chain, caution needs to be taken in the migration process from the existing chain to the parachain.
- Migration is as quick as possible
- Remove opportunities for security risks
- Ensure enough time to monitor stability
Note that with the proposed approach we will not be able to enable transfers until 2-3 days after the migration is done. i.e. 2-3 days of downtime once the state migration begins
Since the moment the Centrifuge parachain shell is on-boarded onto Polkadot, stability of the chain will be monitored until the migration process begins. This means:
- Constant monitoring and alerting
- Ensure block times are stable
- Subscan enabled
- Third parties aligned and supported
- Time period for testing
Update the Council on the parachain from the standalone PoS chain
This is the crucial step, and involves:
- Pausing the Centrifuge <> Ethereum bridge
- Disabling transfers on standalone PoS chain
- Take Snapshot and execute migration of data with Sudo
It is important to note that after the snapshot of the standalone PoS chain is taken, any action taken on the existing chain will not be migrated over to the Centrifuge parachain.
- Allow Democracy and Council Calls
- Enable TX Fees
- Prepare runtime upgrade that does both things (just like for Altair)
- Propose this upgrade to on-chain democracy with a voting period of 24h
- Prepare and propose Runtime Upgrade to enable crowdloan claiming on April 19
- Voting period of 24h with Crowdloan claim functionality expected to go live April 20
- Council will begin to add external collators
- Collators stay tuned for the selection process coming ASAP
It is time to take the next big step towards the Centrifuge vision. Once the launch process is complete, new features can be proposed and implemented on Centrifuge chain. The first big thing on the horizon is migrating Tinlake pools over to Altair and then Centrifuge chain.