STEEM EVM - Genesis Validator Rewards
The Steem Virtual Machine (SVM) Public Testnet continues to demonstrate robust stability and consistent growth. Today, I am pleased to report that the network has surpassed 87,000 blocks produced, with a total of 467 EVM transactions processed. The chain remains healthy, with all validators performing optimally and peer connectivity remaining strong.
Previous Updates
- Sherpa Protocol Live & DeFi Suite
- 50k+ Blocks & Network Stability
- 7 Validators & Username Registration
Network Health & Performance Metrics
The SVM is operating smoothly, providing a reliable foundation for the newly deployed Sherpa Protocol.
Current Network Stats:
- Total Blocks Produced: 87,000+
- Total EVM Transactions: 467
- Average Block Time: ~6.8 seconds
- Active Validators: 7
Optimizing Block Time via Governance
Currently, the average block time sits at approximately 6.8 seconds. While this provides good stability, we aim to increase throughput and reduce latency for a better user experience.
I plan to initiate a governance proposal to test adjusting the yearly block limit and reducing the target block time to 3 seconds. This change would significantly speed up transaction finality and make the SVM feel more responsive for high-frequency trading and interactive applications. This will be tested carefully in the coming weeks to ensure network stability is maintained.
Genesis Reward: 5M SHERPA for Early Validators
To recognize and reward the crucial support provided by validators during the testnet phase, I am announcing a Genesis Reward Distribution.
A dedicated bucket of 5,000,000 SHERPA tokens will be distributed equally among all validators who joined the testnet prior to July 26, 2026.
Eligibility Criteria:
- Validators must have been active and securing blocks on the testnet before July 26, 2026.
- The distribution will occur when the chain transitions to the Live Public Network.
- All eligible validators will receive an equal share of the 5M SHERPA pool.
This reward serves as a thank you to those who helped stress-test the network, secure consensus, and validate the early infrastructure of the SVM. It also aligns validator incentives with the long-term success of the Sherpa Protocol, which is designed to be a self-governing ecosystem. While current community reach is in its early stages, these foundational contributions are vital for future value accrual.
Integrated Experience: SVM App
All of these features are accessible through the unified SVM App:
Through the app, you can:
- View real-time network stats and validator performance.
- Interact with SherpaSwap for swaps and liquidity provision.
- Manage sUSD Vaults and lending positions.
- Stake SHERPA and track your eligibility for future rewards.
For developers and those interested in the underlying code, the blockchain repository is available here:
GitHub: SteemVirtualMachine-EVM
And you can track all on-chain activity via the explorer:
EVM Scan: evmscan.steemscanner.com
How to Connect
To participate in the testnet:
- Network Name: Steem Virtual Machine (SVM)
- RPC URL: https://evm.blazeapps.org
- Chain ID: 8163
- Currency Symbol: STEEM
If you value proactive engineering, UX polish, and performance optimizations for the STEEM ecosystem, please consider supporting my witness: blaze.apps