Today, we are thrilled to announce the testnet launch of Swan Chain on Optimism’s OP Stack. This marks the start of our journey towards building an open marketplace for cloud resources, driving growth in the Superchain ecosystem.
Sounding Success from Lagrange Mars Testnet
On September 26th, Swan Network concluded its grand Lagrange Mars Testnet campaign with major achievements. In sum, 28 Computing Providers worldwide offered diverse computing resources. In total, over 130 GPUs were deployed from 9 countries and 17 cities, supplying over 100,000 hours of GPU service and 150,000 hours of CPU service to the network of builders.
Our Vision for Swan Testnet: An Open Marketplace for Cloud Resources
Swan Network (formerly FilSwan), built as an Ethereum Layer 2 solution, is designed to enhance decentralized computing networks. It integrates a tool suite that streamers developers’ access to resources across multiple blockchains.
We launched the Swan Testnet with the vision of an open marketplace for cloud resources. To bring this vision to life, we’ve chosen to build Swan Testnet on Optimism’s OP Stack, making Swan Chain the newest addition to the Superchain ecosystem.
With the ever-growing Artificial Intelligence need for computing resources and Web3 DApps deployment, GPUs are the new oil in this ecosystem that powers the growth of innovation. With the scale of geographically distributed computing power that Swan Network can provide (Currently covering 9 countries and 17 cities), Swan aims to continue expanding its ability to support the needs of the growing ecosystem.
What You Can Expect from Swan Testnet
Multichain Payment Channel:
Swan Testnet introduces a multichain payment channel built with Chainlink functions that enable users to pay with stablecoins like USDC on various networks, including, Ethereum, Polygon, Optimism, and Arbitrum. Your payments will be seamlessly converted into SWAN tokens on Optimism, providing a new income source for Computing Providers.
SWAN, the native utility token of Swan Network, has a lot of features and benefits, however, any token that has intrinsic volatility poses a problem for long-term providers and users. The incorporation of alternate settlement currencies is one way to address the issue of long-term volatility. The stablecoin USDC, which is based on the US dollar, will be used for the implementation of stable payments. Future additions of settlement currencies can be made with a straightforward governance proposal.
AI/Web3 Computing Support:
Swan Testnet is committed to democratizing AI resources. We provide computing support to the Optimism ecosystem, empowering machine learning models and Web3 applications. Users can also access the Lagrange platform and generate DataNFT which is backed up to IPFS and Filecoin storage via Multi-Chain Storage and verified by Chainlink Functions.
With the booming of AI and Web3, a shortage of computing power is becoming a non-ignorable problem. Traditionally, major providers like Google Cloud and AWS, not only charge a large sum for the GPUs but are also hard to access for many startups. This acts as a barrier of entry for many AI and Web3 projects and consequentially blocks innovation.
Universal Basic Income (UBI) Trial:
SWAN’s UBI system ensures fair compensation for network providers, even during periods of inactivity. As a part of the Swan Testnet, the UBI Trial program allows every eligible Computing Provider to participate and win UBI rewards. This pioneering initiative aims to provide stability and support to providers and provide a basic level of compensation to qualified providers.
Regional Computing Dao Pilot Program:
To meet the growing demand for geographically distributed computing resources across the Swan ecosystem, we’re launching the Regional Computing Dao Pilot Program during the Swan Testnet. Computing Providers from areas without a representative CP can earn additional rewards of 600 SWAN, fostering diversity and participation in underrepresented regions.
All Computing Providers, whether existing or new CPs, can earn referral rewards by referring qualified CPs. For each qualified referral, you will receive 300 SWAN tokens as a referral reward, encouraging a thriving community.
Introducing the Swan Jupiter Testnet Campaign:
To further our mission and encourage more Computing Providers to join us in building an open cloud resource market, we are excited to launch the Jupiter incentivized testnet campaign.
Running from November 20th, 2023, 00:00 (EST) to December 20th, 2023, 23:59 (EST), this campaign offers a prize pool of 150,000 SWAN. It provides a unique opportunity to stress-test our latest features, including the multichain payment channel, the Regional Computing Dao Pilot Program, Universal Basic Income (UBI), and more.
Early bird registration starts today, November 15th, 2023, at 00:00 (EST). Be among the first participants and maximize your rewards by registering early!
To learn more about the rules and tutorials of the Swan Jupiter incentivized testnet campaign, please visit here.
November 22nd Update:
We’re excited to announce an extension to our Swan Testnet campaign, and this time, it’s not just for Computing Providers (CPs). Now, everyone can join in and play a pivotal role in stress-testing our network. Starting today, we’re welcoming users from all backgrounds to become an integral part of our vibrant community.
Participation for Everyone: You don’t need to be a CP to contribute. If you use Testnet Swan-USDC to create Spaces on Lagrange from Nov 22st to Dec 20th, you’re in! This is your chance to get involved in shaping the future of decentralized cloud computing.
Become a Network Early Adopter: By participating, you’ll be recognized as an early adopter of Swan network. We want you to know that early adopters are incredibly valuable to us. Your involvement at this stage is crucial and highly appreciated.
Swan is a Layer 2 solution designed for decentralized cloud computing. Backed by strategic partnerships with industry leaders such as Filecoin, IPFS, Chainlink, Polygon, Microsoft Azure, and Google Startups Cloud Program, Swan is well-positioned to drive the future of Web3 Storage and Computing. With cutting-edge solutions like Lagrange and Multi-Chain Storage, Swan is funded by Binance Labs, Chainlink Labs, SNZ Holding, Outlier Ventures, Chain Capital, and more.