Summary

Due to the performance and stability of BasedAI's "PROMETHEUS" testnet and during internal testing of the "CYAN" testnet, the decision has been made to accelerate the schedule for the mainnet launch and subsequent Brain Mint event.

Release of BasedAI's "CYAN" Testnet

BasedAI will launch its Release Candidate Testnet, named “CYAN” on Friday, June 7th, 2024. This testnet is expected to operate significantly shorter than PROMETHEUS, culminating in the commencement of the Brain Mint and then shortly after the release of mainnet.

Utilization of Test Brain Contracts in “CYAN” Testnet

The upcoming “CYAN” testnet will incorporate the use of specific test Brain contracts, designed to evaluate the system's robustness and efficiency. These are:

• Brain NFTS: 0xF9C00fE7dC7308D45E7BE9835b4d786e0871E08E
• Brain Credits: 0xF174aA36F32e45D593e3e94d7Ce754B6950ce2A7

Grace Period for Staking Withdrawals

The V2 staking contract's withdrawal penalty will be active from June 8th. This means that staking withdrawals that occur during CYAN will result in forfeiture of the associated rewards. However, those who are staking and wish to participate in the Brain Mint event do not need to worry, as there will be a grace period prior to the release of the BasedAI mainnet.

The mainnet release date will be announced during the CYAN, and prior to the mainnet going live a snapshot of staking balances will be taken. There will be a gap between this snapshot and the mainnet launch within which the Brain Mint will occur.

This means you can remain staked for the full duration of the "CYAN" testnet before making a decision on whether to burn/stake your Pepecoin for a brain. After the pre-mainnet snapshot has been taken, you will be safe to unstake and participate in the brain launch without losing your rewards.

Staking $BASED Tokens on Ethereum

In celebration of the launch of this final testnet, BasedAI is enhancing the functionality of BasedAI tokens on Ethereum. Users will have the opportunity to pre-bridge BasedAI with their Pepecoin to earn additional mainnet $BASED tokens. This pre-bridging will adhere to the same rules as Pepecoin, and offers an annual percentage yield (APY) of 20.06%.

Staking will commence prior to the release of CYAN, the specific date/time will be announced via our official channels shortly.

For more information on the Brain burn: https://www.getbased.ai/gas-optimized-brain-launch

On Chain Testing

All contracts are on the Ethereum mainnet, however for CYAN, below are the test assets to monitor how CYAN uses them. New contracts will be deployed and stored in the genesis block of BasedAI.

• In the first example transaction a user redeems Brain #8 by burning 1000 BRAIN CREDITS. View Example 1
• In this second example a user stakes 100,000 “TEST PEPECOIN” inside the contract, receiving Brain #7. View Example 2

Warmly,

Based Labs