Parameter Updates on Testnet

Resolved after about 1 hour
September 16, 2021 at 7:00 AM
September 16, 2021 at 8:19 AM
  • Completed
    September 16, 2021 at 8:15 AM

    Parameter update has completed successfully.

  • Planned
    September 16, 2021 at 7:00 AM

    A parameter update to change the exchange rate of GTU to EUR from the current 0.5 GTU/EUR to 2.78 GTU/EUR will take effect on testnet on September 16, 2021. This corresponds to a GTU price of 0.36 €.

    To keep the minimum amount required for baking unchanged in EUR, the GTU baker threshold will be adjusted accordingly to 14000 GTU.

    The update implies that the transaction fees in GTU will be increased. More stake in GTU will be required to become a baker. Existing bakers will not be influenced by the new threshold.

    The parameter updates on testnet are in preparation of similar parameter updates on mainnet later in September.

  • In progress
    September 16, 2021 at 7:00 AM

    Update should be effective now. We are currently testing it.