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Connext Token Economics Revealed, Airdrop Set for September 5th

Connext Token Economics Revealed, Airdrop Set for September 5th WikiBit 2023-08-18 14:18

Connext Token Economics Revealed, Airdrop Set for September 5th

The Layer2 interoperability protocol Connext is set to launch its native token, Next, on September 5th. The Connext team also plans to distribute Next tokens to early users on Polygon, Arbitrum, Optimism, and Gnosis Chain through an airdrop, with the claiming process opening on September 5th. The Next token will serve as a governance tool for the Connext ecosystem through a decentralized autonomous organization (DAO).

It is reported that Connext is collaborating with Tokensoft to introduce “Cross-Chain Airdrop as a Service.” Through this service, airdrop recipients can claim tokens on any chain without the need for bridging or incurring additional gas fees. This service will launch with the next airdrop.

In previous news, Connext introduced the cross-chain token standard xERC20, aiming to reduce liquidity costs and enhance the security of bridging tokens.

Connext has revealed the token economics for its Nest token, with a total supply of 1 billion tokens. The token type is xERC20, and the distribution is as follows: 30% allocated to the DAO, 10.8% to the Connext Foundation, 10% for airdrops, 22.34% to early supporters, 11.24% to the ecosystem and strategic supporters, 11.68% to the early team and advisors, and 3.90% to Proxima Labs.

To qualify for the NEXT airdrop, users must meet at least one of the following two criteria: 1. Complete 3 or more transfers with an average transaction value of at least $15 and a total transaction volume exceeding $200. 2. Provide liquidity of at least $1500 to the Connext network for no less than 1 day.

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