CDS Crypto News Arpa Network to Mint Remaining 500 Million ARPA Tokens for Staking Rewards
Crypto News

Arpa Network to Mint Remaining 500 Million ARPA Tokens for Staking Rewards

Arpa Network, a decentralized computation protocol, successfully launched on the Ethereum mainnet on Wednesday after undergoing two months of testing on the testnet, as confirmed by developers to CoinDesk.

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Arpa Network To Mint Remaining 500 Million Arpa Tokens For Staking Rewards

Arpa Network to Mint Remaining 500 Million ARPA Tokens for Staking Rewards

Arpa Network, a decentralized computation protocol, successfully launched on the Ethereum mainnet on Wednesday after undergoing two months of testing on the testnet, as confirmed by developers to CoinDesk. The network’s developers emphasize its ability to enable users to engage in blockchain activities and transactions while ensuring privacy, making it difficult to trace on-chain behavior back to specific entities or user groups.

The launch of Arpa Network on Ethereum opens up opportunities for Ethereum developers to utilize the platform for building and deploying decentralized applications (dapps) across various domains. These applications include lotteries, gaming platforms, decentralized voting systems, and identity management systems, among other use cases. By integrating with Ethereum, Arpa Network aims to bring the advantages of privacy-preserving computation to a wider range of applications within the ecosystem.

Arpa Network To Mint Remaining 500 Million Arpa Tokens For Staking Rewards

On June 22, Arpa Network is scheduled to commence the minting process for the remaining 500 million ARPA tokens, which have been specifically reserved for staking rewards. These tokens will not only serve as rewards for stakers but also act as a reserve to support the growth and expansion of the Arpa ecosystem.

To ensure a controlled and gradual distribution, the tokens will be released incrementally, facilitating a phased vesting process for stakers, validating nodes, and other participants in the ecosystem.

Additionally, Arpa Network is finalizing a six-month community pool staking program, intending to allocate 1.5 million tokens as monthly rewards. Community members will have the opportunity to stake their tokens, thereby earning rewards and actively monitoring the network’s performance.

Arpa Network To Mint Remaining 500 Million Arpa Tokens For Staking Rewards

As of Wednesday morning, each ARPA token was traded at a value of 5 cents, resulting in a total market capitalization of $50 million, according to available data.

Arpa Network To Mint Remaining 500 Million Arpa Tokens For Staking Rewards
Sources:CoinDesk

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