Announcement: removal of 90% discount on TestNet transactions by 1 May 2023

March 6, 2023

Since April 2022 Sovrin Foundation has been charging a contribution for services on TestNet (formerly known as StagingNet). By offering a 90% discount on TestNet transaction fees, Sovrin wished to support adoption of DIDs and Verifiable Credentials. Sovrin Foundation hereby subsidized the digital identity industry with more than USD $300,000 in 2022.

With the standardization and wide adoption of the technology worldwide, the Board has seen a move of use cases from “Sandbox to Societies”. Activities have subsequently been deployed to ensure legal and financial accountability for all use of Sovrin Networks, whether used for testing, pre-production or production.

In order to fund the Sovrin Networks, the Board has decided to remove the 90% discount as per 1 May 2023. The first of the periodic resets of TestNet will commence on or after that date. The method of resetting, the first reset date and the subscription duration of TestNet transactions are yet to be determined in 2023.

Here is the text of the resolution passed by the Sovrin Foundation Board of Trustees:

RESOLUTION:  Be it resolved that – in line with the Boards 2023 strategy “From Sandbox to Societies” – the Board celebrates the past years role of Sovrin in subsidizing industry adoption and proceeds to remove the 90% discount on TestNet transaction fees.

From Board of Trustees Meeting 1 March 2023

View the recording of the Annual Meeting 2023 of 1 March for more information

The Annual Meeting is a meeting of the Sovrin Board of Trustees where each Trustee has one vote. The Board invites the Sovrin Community to join the Annual Meeting to hear presentations of the technical and financial reports from the past year and the Board’s objectives for the current year. Throughout the year, the Board of Trustees holds monthly meetings and monthly Community Calls.