Cudos' Blockchain Mainnet Tools And Token Staking Update

Following our recent mainnet launch, we invite you to explore our new and cool tools. Visit our Block Explorer, Staking & Governance, and Cudos Bridge tools now! Use them to interact with the Cudos network and manage your funds. 

NOTE: Read till the end for an important staking update!

Our new network exploration page is live! Visit takeoff.cudos.org for quick access to our Block Explorer, Staking & Governance, and Cudos Bridge tools.

Related: Cudos’ mainnet launch: key milestone for cloud and blockchain

Block Explorer

The Block Explorer is useful for looking into the Cudos blockchain history and seeing when transactions have been committed on-chain. It allows you to browse assets by Cudos address or see what has occurred in various transactions between accounts and contracts. One of the most important features of blockchain is that it is a public database - the block explorer makes looking at this database a lot easier.

Block Explorer tool, Image source: https://explorer.cudos.org/ 

The Block Explorer is the primary window into the Cudos Network blockchain showing all sorts of top-level information about the current chain and granular transaction data.

Staking & Governance 

The Staking & Governance page currently takes you to an old version of the Cudos Network block explorer. Using the tool, you can manage your delegated stake on the network and propose and vote on governance changes.

On the staking side, you will use the Staking & Governance page to choose which validator you want to delegate your CUDOS to, and it will also show you the rewards you have earned from staking.

Related: Staking’s colossal growth — is proof of work actually becoming extinct? 

When it comes to governance, Cudos is a community-driven project where you have a say in the direction of how the protocol works on a technical level. Anyone can formally propose protocol changes to how the network operates. You can also vote on proposals others have made.

Staking & Governance tool, Image source: https://explorer-v1.cudos.org/  

We’ll be releasing a massive upgrade of the Staking & Governance tool in the coming weeks, so keep an eye out for that! We think you will love the new design, but for now, head to the old version to complete any Staking or Governance transactions!

Cudos Bridge

The Cudos Bridge is the tool for migrating or “bridging” your tokens between the Ethereum and the Cudos blockchains. Depending on what you want to do with your tokens, you could want them present on either blockchain - so you can switch them in either direction. However, all transactions moving tokens onto Cudos rely on the Ethereum network, making the transactions potentially expensive.  

Related: Cudos’ mainnet brings interoperability and lower gas fees

To perform the bridge transaction, you will first select the direction you want to send your tokens, either from Ethereum ERC20 to Cudos native or from Cudos native to Ethereum ERC20. Then you will connect the Metamask wallet to the Ethereum side of the transaction and your Keplr wallet to the Cudos side. 

Cudos Bridge tool, Image source: https://bridge.cudos.org/ 

And yes, you got that right! You connect both wallets since you are interacting with both blockchains! You can then proceed to the next screen by clicking “Begin new transfer”, where you can specify how many tokens you want to transfer. Click “Transfer”. You may first need to sign a transaction to give Metamask access to the Bridge. Then your wallet will pop up to sign the transaction and perform the bridging of tokens.

Staking update

IMPORTANT: This is a must-read for all token holders delegating stake with Validators or Validators themselves who did not migrate to the new native Cudos Network blockchain at the genesis!

• We’ll allow ERC20 CUDOS holders to withdraw their staked tokens on Ethereum from today, Wednesday 6th July 2022. 
• These are users who were delegating stake with Validators or Validators themselves who did not migrate to the new native Cudos Network blockchain at genesis.
• This is happening because CUDOS staking on Ethereum is now complete, and there are no rewards available via this smart contract anymore. To earn staking rewards with CUDOS, users must be on the Cudos Network, using native tokens via a Keplr wallet, and delegating to a live mainnet Validator.

• It’s happening today, Wednesday 6th July 2022, because that’s 21 days after our mainnet went live, and these staked tokens have now undergone the standard 21-day unbonding period that all staked tokens must go through to be withdrawn.
• Users will be able to access their funds at wallet.cudos.org where they can connect their Metamask wallet to be able to see their available funds, unclaimed rewards, and claimable stake.
• The reclaiming smart contract which holds the funds is also directly accessible if users prefer to interact with the contract directly via Etherscan.
• This is only relevant for users who chose not to migrate to the new network via the address mapping tool.
• Previously staked tokens (and any pending rewards) on Ethereum can now be reclaimed indefinitely with no time limit.
• These ERC20 CUDOS holders can easily bridge to the new network today via the Cudos Bridge once they’ve reclaimed their stake/rewards at wallet.cudos.org.
• As this reclaiming function is happening on Ethereum again, users will need some $ETH in their wallets to pay gas fees for each of these transactions - gas fees are typically low right now, but that’s out of our control.

Build on Cudos!

We aim to improve blockchain and cloud technology whilst reducing their harmful environmental effects. Our network offers a cheaper, more energy-efficient alternative for dApps, asset ownership, and transfer. Check out our docs and start building on Cudos today!

• Join the Cudos’ Discord server 
• Join the Cudos’ Telegram community 
• Buy CUDOS tokens 
• Become a Cudos ambassador

Come build on our mainnet!

About Cudos

Cudos is powering the metaverse bringing together DeFi, NFTs and gaming experiences to realise the vision of a decentralised Web3, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.

Learn more: 

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