Session Token is an EVM-compatible token which will be used to unlock premium features in the Session messenger (Session Name Service, Session Pro) and as a security and incentivisation layer for Session Nodes.

You can find more detailed information about Session Token here.

Session Token will be deployed with staking and rewards functionality on Arbitrum One, an Ethereum Layer 2 scaling solution. It will be possible to bridge Session Tokens to and from Ethereum.

The Session Token is launching on Arbitrum One, a leading Ethereum Layer 2 scaling solution, for its proven performance, reliability, and security. Creating the cryptographically secure Session Node registration and reward system directly on the Ethereum network would be prohibitively expensive. Arbitrum’s drastically reduced gas fees allow the implementation of the Session Network’s staking logic on an Ethereum-backed blockchain with much lower costs. Supported by a grant from the Arbitrum Foundation, Session should contribute significantly to Arbitrum's success in the future as one of the largest decentralised applications on its network.

Session is an end-to-end encrypted decentralised messaging application. With no phone number required on sign-up, IP masking through onion-routing, and a resilient decentralised server structure, Session offers a unique combination of private, secure, and trustless communication.

For more information about Session, you can head over to the Session Website

The Session Network is a decentralised physical infrastructure network (DePIN) made up of community-operated nodes, called Session Nodes). This DePIN infrastructure enables application functionality and scalability through the routing and storage of data (like messages). Currently, there are approximately 2,000 nodes providing services to Session via the Oxen Network. These nodes will undergo a migration from the Oxen Network to the new Session Network.

Session Token has not yet been generated, and therefore cannot be purchased directly. You can gain access to Session Token prior to the Token Generation Event (TGE) by staking Oxen coins to a registered Oxen Service Node to be automatically swapped for Session Tokens at TGE; or by holding Oxen coins and burning them in exchange for Session Tokens after TGE in the Oxen Coin Claims program.

Session Token will also be used to unlock, access, and interact with premium features offered in the Session ecosystem. These features include registrations using the Session Name Service, activating Session Pro, and may also include more utility such as one-time in-app purchases in the future.

Session Network's functionality and scalability is enabled by a set of incentivised nodes called Session Nodes. Session Nodes are responsible for storing Session messages, routing Session messages, securing and maintaining the network, and maintaining the appchain. Anyone can run a Session Node by staking Session Tokens and contributing resources (data storage, bandwidth, processing capacity) to the network.

A full Session Node requires a stake of Session Tokens and a server, such as a VPS or dedicated server, that can provide a minimum level of computational resources (bandwidth, storage, and compute) to contribute to the network. The amount of Session Tokens required to stake will be announced closer to TGE.

If an individual does not have sufficient Session Tokens as required to stake a full Session Node, other token holders can contribute to create a full stake.

Detailed guides for setting up a new Session Node will be provided in the docs closer to the migration. The steps will be largely similar to setting up an Oxen Service Node, and involves downloading software to your server, configuring your node, preparing your node for registration, staking your Session Tokens and registering your Service Node, as well as checking your registration status on the network and setting up monitoring tools for your Node.

Session Tokens have not been generated, and staking is not yet live. In the future, operators and contributors to Session Nodes will interact directly with the Session Token staking contracts to register their node/contribution. One of the ways this can be accomplished is via the staking portal on the Session Token website.

Once your node is running, calling the prepare_registration command will allow you to send your node's details to the staking portal. Using the portal, you can choose to set up a full node or a multi-contributor node. In the case of a full node, the portal will facilitate the necessary interactions with the Session Token staking contract allowing you to stake your tokens and register your node, once registered your node will start performing the duties required by a Session Node. 

If choosing to run a multi-contributor node, you will interact with the Session Token staking contracts and register this intent, once registered your node will be listed on the Session Token website as a node awaiting contributions from other participants.

Staking contributors will be able to browse a list of available multi-contributor nodes and choose to stake their Session Tokens. The portal will allow a contributor to interact directly with the Session Token staking contracts to stake the required amount. Once the required Session Tokens have been staked by contributors, the multi-contributor node will start running.

The Staking Reward Pool transforms Session Token’s utility into incentives for the validation services provided by Session Node operators and contributors. In return for staking Session Tokens and providing validation resources that enable the function and network security of Session messenger, Session Node operators and contributors receive rewards from the Staking Reward Pool. Tokens in the pool are time-locked in a smart contract and released at a targeted rate of 14% per year.

When Session Tokens are used to activate on-chain features like the Session Name Service and Session Pro, these tokens are burnt as network fees and removed from circulation. This allows new tokens to be minted into the protocol’s Staking Reward Pool. Node rewards scale based on the amount of tokens in the Staking Reward Pool—so that the network’s rewards increase the more Session Tokens are in the pool.

For more information on the Staking Rewards Pool, check out the docs.

To avoid unnecessary transaction fees, rewards are remain in the smart contract until they are manually claimed by stakers. This can be done via the same web staking portal which can be used for managing stakes.

Rewards are released once the Session Network validates and authorises the claim and amount.

The same process applies for stakes which are withdrawn due to unlocks or deregistrations.

The Session Testnet Incentive program allows community members to receive testnet Session Tokens and run testnet Session Nodes. This will help battle-test the Session Network prior to the network migration. You can learn more about the program here.

Testnet is currently in its first phase, where pre-existing community members can participate. Anyone who was present in the Session Token Discord, Oxen Project Telegram, or registered for the Oxen Service Node Bonus Program as of the snapshot on June 12, 2024 is eligible to receive and stake testnet Session Token.

Following this initial phase, access will be expanded through an invitation-based system. Session's contributors and existing community members will have the opportunity to invite new participants who align with Session’s values and goals.

Based on the insights gained from the first two stages, the testnet may be opened to the public in a final phase.

Eligible participants should visit the Session Testnet Faucet to receive 40,000 test SESH, equivalent to two full stakes. Once you have received your 40,000 test SESH, you can follow the guide provided in the Session Token Documentation in order to set up your node/s.

If you have any issues setting up your node, understanding the docs, or have any questions, please post in the ⁠Testnet Help Forum in the Session Token Community Discord to access support from Session contributors.

A full Session testnet Node requires a stake of 20,000 test SESH and a server, such as a VPS or dedicated server, that can provide a minimum level of computational resources (bandwidth, storage, and compute) to contribute to the network. These server requirements are lower than what will be required for a mainnet node after TGE. Learn more here.

It is currently possible to run single contributor testnet nodes, where the node operator is the sole staker. As the testnet progresses, multi-contributor nodes will be enabled, allowing node operators to work with multiple contributors. In this setup, operators can set a fee, payable in test SESH, for contributors. This system encourages collaboration while rewarding operators for their efforts in maintaining nodes.

The program aims to attract people who are genuinely interested and aligned with Session’s values and goals. Existing community members have shown their dedication and are already familiar with the Session ecosystem. Once referrals open, Session's contributors and existing community members will have the opportunity to invite high quality users who are keen on helping to hit the ground running at TGE.

The Session Testnet points system is designed to encourage active participation by node operators (and soon, node contributors) during the testnet. Points are calculated daily per node. Every day your node is active and contributing to the network, you earn points that will determine your eventual share of Session Tokens based on participation. Once multi-contributor nodes are enabled, contributors will also earn points based on their percentage of test SESH contributed to the full stake.

Note that sybil defence measures will be employed during the program.

The Session Testnet Incentive Program, powered by the Ecosystem and Community Fund, marks an important step in the journey to build a thriving community around. All rewards will be drawn from this fund and distributed at the Token Generation Event (TGE). The sustainable growth of the Session ecosystem is vital, and while the rewards are designed to be meaningful, they are also calibrated to ensure the longevity of the fund. Read more about the Genesis Tokenomics here.

Please also take some time to review the Testnet Incentive Program terms and conditions.

The Session Name Service allows Session users to register human-readable names connected to their Session ID on Session. Session users will be able to register these names using Session Tokens.

Registered names will be mapped to a Session Account ID for quick and simple contact discovery in Session.

When Session Tokens are used to activate on-chain features, such as registering a Session Name, the tokens are burnt as network fees.

90% of these tokens (minus fees) are then reminted into the Staking Reward Pool, returning to the protocol via rewards for the network’s validators (Session Nodes). 10% is reminted as protocol-owned liquidity, to ensure market liquidity and scalability.

It will not be possible to register new Oxen names after the Session Token TGE.

Existing Oxen names will remain mapped to their assigned Session IDs, and lookup via these Oxen names will function as usual. All existing Oxen names will be migrated to the new Session Name Service before public launch, allowing users to claim their Oxen names in the new Session Name Service.

Session Pro offers a collection of enhanced features for power users. Planned features for Session Pro include (but are not limited to) vastly increased file transfer limits, account profiles, and badges.

Session Pro can be activated by using Session Tokens to pay Session Network Fees. It will also be possible to pay these fees with other cryptocurrencies and fiat currencies, via third party providers who convert these to Session Tokens and pay Session Network Fees on the user’s behalf.

When Session Tokens are used to activate Session Pro, the tokens are burnt as network fees.

90% of these tokens (minus fees) are then re-minted into the Staking Reward Pool, returning to the protocol via rewards for the network’s validators (Session Nodes). 10% is re-minted as protocol-owned liquidity, to ensure market liquidity and scalability.

No, Session messenger is free to use.

Oxen coins are the coin which initially powered the Session messenger via its own Layer 1 blockchain. Oxen encountered adoption challenges, particularly among people less familiar with cryptocurrencies.The important connection between Oxen and Session was also unclear due to the different brand names. As a privacy coin, Oxen also faced strong headwinds in the current regulatory environment, making web3 industry partnerships challenging.

Unlike Oxen, obtaining, using, and staking Session Token will be made easy and accessible through familiar and intuitive web portals that anyone can use, all whilst streamlining closely-related projects under the one recognisable brand umbrella.

A Token Swap will be conducted with two programs to enable a smooth transition for Oxen holders and stakers to the new Session Network.

The Oxen Coin Claims program will allow holders to burn their Oxen coins in exchange for an allocation of Session Tokens via a third-party bridge.

In the Oxen Service Node Bonus Program, registered stakers of Oxen commit to having their Oxen coins automatically swapped at the Token Generation Event. Registered stakers of Oxen will also be rewarded additional Session Tokens as part of this program.

Oxen coin holders can claim Session Tokens by burning their Oxen coins as part of the Oxen Coin Claims program, which 30,000,000 unlocked Session Tokens will be allocated for at TGE.

Learn more about the Oxen Coin Claims Program here.

The amount of Session Tokens received is proportional to the total circulating supply of Oxen coins at the time of the claim. The circulating supply does not include Oxen coins held by the Oxen Privacy Tech Foundation (OPTF), as the OPTF which will not be participating in the Oxen Coin Claims program.

(Oxen swapped by user / (Oxen Supply at Session Token TGE - OPTF holdings)) * 30,000,000

For example, burning 1% of the circulating Oxen supply grants 1% of the 30,000,000 Session Tokens allocated for Oxen Coin Claims.

A centralised bridge, similar to the wOXEN bridge, will handle the burning of Oxen and allocate the corresponding Session Tokens.

The program will run indefinitely, but after 6 months following TGE, the swap multiplier will decrease to 0.7.

((Oxen swapped by user / (Oxen Supply at Session Token TGE - OPTF holdings))* 0.7) * 30,000,000

For example, burning 1% of circulating Oxen supply after 6 months following TGE would grant 210,000 Session Tokens, instead of 300,000 that would have been allocated prior.

It is recommended that Oxen holders claim within the first 6 months for the best rate. Unclaimed Session Tokens after the multiplier decrease will be reserved for future node rewards.

Prior to the migration, a hardfork and software upgrade will take place. During the migration from Oxen to Session Token, the existing Service Nodes on the Oxen network will continue to operate and transition seamlessly. They will remain registered, and their staked Oxen will be automatically swapped to Session Token. After migration, nodes will stake Session Tokens instead of Oxen coins, and will earn rewards in Session Tokens.

You don’t need to do anything right now. Further announcements will be made regarding the hardfork and software upgrade closer to TGE. Learn more here.

The Service Node Bonus Program rewards existing Oxen Service Node operators and contributors for their contribution to the network and incentivises the transition of the Oxen Service Node network to the new Session Network.

A total of 30,000,000 Session Tokens will be rewarded to Oxen Service Node operators and contributors who participate in the program.

Learn more about the Oxen Service Node Bonus Program here.

Service Node operators or contributors can register for the program using this portal.

Yes, stakers will receive Session Tokens through both the Service Node Bonus and Oxen Coin Claims programs. If you registered for the Service Node Bonus and remain staking up until the Session Token TGE, your staked OXEN will be swapped automatically (on parity with Oxen Coin Claims swaps) and requisite Session Tokens credited to the Ethereum address that you provided when registering for the Service Node Bonus.

Snapshots of the Oxen blockchain are taken hourly during the snapshot period, with registered and active nodes accruing 1,000 points each day. Where multiple people are contributing to a node, the points each contributor receives is proportional to their stake. For example, contributing 10% of a Service Node would mean you receive 100 points each day. After July 1, 2024, daily staking points will be reduced to 800. This means that someone contributing 10% of a Service Node would receive 80 points each day.

At the conclusion of the snapshot period, registered participants will receive a portion of the 30,000,000 Session Tokens equal to their portion of the total points accrued by all participants during the snapshot period.

(Participant’s Service Node Bonus Points/ (Total Service Node Bonus points at Session Token TGE)) * 30,000,000

Any stakers who registered before 31 January 2024 were credited points starting from 25 September 2023. Stakers who registered after this date will begin accruing points from the date they register.

In order to ensure sufficient Session Tokens to restake after the Token Migration, Service Node Operators should register for the Bonus as early as possible.