PermaDAO Releases New Token Model for AO, Ensuring 100% Fair Launch
AO, the hyper-parallel computing network based on Arweave, has recently announced the launch of its brand-new token model, attracting widespread attention within the industry.
According to an official announcement on AO’s Twitter account, AO will have its own independent token called $AO. The new token model introduces a completely new method of distribution and issuance. Here are the key points of the release:
1. Fair Launch: $AO will be distributed through a 100% fair launch, meaning that there will be no pre-mining, pre-sale, or preferential treatment of any kind.
2. Token Minting: All $AO tokens will be minted through three methods – bridging with AO, holding $AR tokens, or participating in network development.
3. Issuance Mechanism: The total supply of $AO will be 21 million tokens, and it will undergo a halving every four years.
4. Non-profit Organization Management: A new non-profit organization will be responsible for the issuance and management of $AO, following the aforementioned mechanisms.
5. Launch Time: The genesis block is scheduled for June 13th, 11:00 AM Eastern Time.
However, it should be noted that users from the United States and sanctioned regions will not be able to mint $AO through bridging networks.
The release method clearly demonstrates the official aim to ensure a 100% fair launch for the token. It is worth mentioning that bridging to AO is one of the methods of token minting, and currently, AOX (aox.xyz) is the only cross-chain bridge within the AO ecosystem.
Paying Tribute to Bitcoin
The $AO token model adopts the same total supply of 21 million tokens and halving mechanism every four years, just like Bitcoin. These design elements not only guarantee the scarcity and fairness of the tokens but also pay homage to Bitcoin, showcasing a recognition of decentralized and equitable distribution principles.
As time goes on, it remains to be seen whether AO and its new token model will gain market acceptance.