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State Guardian Network v2 Public Staking Launch! Boosted Value Capture and Enhanced Staking Experience

Announcements / Marketing

State Guardian Network v2 Public Staking Launch! Boosted Value Capture and Enhanced Staking Experience

CelerNetwork

By CelerNetwork

4 months ago
2 mins read
State Guardian Network v2 Public Staking Launch! Boosted Value Capture and Enhanced Staking Experience

The State Guardian Network (SGN) v2 was launched in March 2022 at sgn.celer.network! This upgrade ushered in a brand new user experience and directed value capture from Celer cBridge and Inter-chain Messaging framework (Celer IM) for SGN stakers. In addition to the regular PoS staking rewards, stakers can receive transaction fee earnings captured from Celer cBridge and Celer IM-based inter-chain dApps.

The Celer State Guardian Network (SGN) is a Proof-of-Stake (PoS) blockchain built on Tendermint that serves as the message router between different blockchains. It serves as a message router between different blockchains, facilitating general message passing and cross-chain fund transfers. Celer cBridge and the Celer Inter-chain Messaging Framework (Celer IM), leverages the SGN in cross-chain transactions for its PoS security, fast finality, and low cost.

Compared to v1, the v2 upgrade specifically focused on enabling the SGN with the capability to capture transaction fees from the cross-chain transaction it processes, which in the case of cBridge, was based on the transaction volume in each transfer for the liquidity pool based model. For Celer IM-based inter-chain dApps, it was based on the message size.

Stakers even have the flexibility to capture SGN staking and transaction rewards without running a node themselves. By paying the validator a commission — a predetermined percentage of their rewards down the road, stakers can still enjoy the benefits associated with their stakes when they delegate CELR to a validator.

About Celer Network

Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.

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