Everest Foundation Update — January 2023

EverChain is functioning well, which means it has sufficient nodes to be decentralized. That said, it needs more tire-kicking and QA before opening to additional nodes. Opening to additional nodes will come as the network gains robustness and maturity.

Team unlocks will begin at the end of January after four years, and continue monthly for the subsequent three years. The team agreed to allow for their allocation to be managed, thus avoiding many pitfalls that befall other communities. Given the team’s dedication to the Everest ecosystem, and having repeatedly foregone their own gain for the benefit of the community, any concern should be assuaged.

Lastly, staking will continue for another year at the following rates:

- 3% for 90 days

- 8% for 180 days

- 18% for 365 days