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Waves founder: Units.network ecosystem governance tokens are planned to be launched in September

Waves founder: Units.network ecosystem governance tokens are planned to be launched in September

Odaily2024/07/04 10:14
By:Odaily
Odaily News Waves founder Sasha.waves published a post on X revealing some of the token economics of the sidechain network Units.network. According to reports, Units.network is an EVM sidechain ecosystem launched on the Waves blockchain. The upcoming blockchain is Unit0, and its native token will also serve as the governance token of the entire ecosystem. All sidechains and Waves itself are supported by a community of miners, so Waves miners will also receive sidechain tokens as rewards. The Unit0 token is scheduled to be launched in September. Waves community members, participants in testnet and TVL activities, miners and seed round investors will receive token allocations. Many Waves community members hold L2MP tokens, which they get by exchanging USDN (XTN). L2MP holders will be able to claim Unit0 tokens regularly by staking L2MP. The team is currently running testnet and TVL activities to create a core unit community. Participants in both activities will receive token allocations. Miners will be able to mine Unit0 tokens directly. Miner rewards will be balanced in such a way that the destruction of network fees will eventually be roughly equal to the Unit0 rewards received by miners. This will set a cap on the total Unit0 market value while also providing perpetual rewards to miners. In addition, venture capital funds and seed round investors will also receive token allocations, which will be available for claiming over the next two years after a few months of cliff. The final allocation details will be announced after the testnet, TVL and financing activities are completed.
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