Today Phaeton sets a new milestone with Clymene Test-Net to be activated. The team has worked hard to ensure Phaeton’s Sister Network supports Phaeton's future ecosystem infrastructure as the company grows in the blockchain industry.
Phaeton and Clymene are two independent chains on top of which users can launch and operate their own sidechains. Phaeton and Clymene share a special bond as they are built on nearly identical codebases with enhancements to the consensus mechanism and reward distribution. Phaeton and Clymene networks have been designed to facilitate future interoperability between the networks, creating an added layer of security in supporting a true Web3 ecosystem.
Clymene is branded as the “Clymene Network” built for Phaeton’s internal projects meaning that new code and features will use Clymene over Phaeton ensuring overall Phaeton’s efficiency by reducing network congestion and maintaining speed and security as a coin. It is important to note that Clymene is not a Test-Net in the traditional sense of the term. The Clymene network is host to substantial economic value on Phaeton's overall vision and value as a Business.
Clymene will provide a live, fully decentralized and community-controlled network with real-world conditions and incentives. The initial use case for Clymene is as a production environment for Phaeton's future growth and vertical silos that the business devolves into.
Thus, making Phaeton’s business position stronger than ever before…
Clymene Network is an independent sidechain which is a separate network that is dependent on the Phaeton Main-Net. Clymene Network will provide many advantages like high speed, flexibility, and liquidity to ensure the Phaetons ecosystem is well supported. New developers can certainly build on top of Phaetons technology to build their own sidechain and decentralised applications whilst working towards a Web 3 Network infrastructure.
Phaeton and Clymene are asset backed coins bringing real-life use cases to gear up and be ready for the global market. With new projects like Phaeton RE (Real Estate Defi), Phaeton ID (Identity) and Phaeton Bonds soon to be released this makes, Phaeton’s business position very attractive.
Clymene will pre-mine 1 billion coins. 95% of the coins will be considered locked subject to the federation board’s approval which inclines. The company is not able to access or spend them. At this point, it’s time for federations to act to ensure the market's value proposition is maintained.
A federation can be defined as a group of powerful servers which are owned by the delegate node holders that work as an intermediary station between Phaeton’s main net and the Clymene side chain. One of the most important purposes of the federation is to determine the time when both Clymene and Phaetons company coins are to be locked and when they should be unlocked.