What Is Activate All About?
Activate, developed by ConsenSys Codefi, is not just another token launch platform; it’s like the cool kid in school who actually contributes on group projects. Launched in October 2019, its main mission is to foster real adoption for innovative projects. Starring in its debut is none other than Skale Network, which promises to make living on the blockchain as easy as ordering a pizza online.
Unlike Your Average ICO
Now, let’s clear the air: Activate isn’t trying to fit into the same mold as those often-criticized ICO platforms like CoinList or Binance Launchpad. According to Ejaaz Ahamadeen, ConsenSys’ Global Lead of Token Architecture, Activate lets users engage in decentralized networks and manage their utility tokens from inception to execution. Think of it as giving your tokens a VIP pass to the big leagues right from the start.
The Magic of Proof of Use
Ever hear of someone who bought a gift only to leave it collecting dust? Token holders often do the same, getting involved for the profits but disappearing when it comes to community engagement. To combat this, Activate introduces the Proof of Use system, ensuring that token holders actually use their tokens, not just stash them away. Here’s the kicker: new holders must demonstrate intent to use their tokens actively. For Skale, 50% of tokens must be engaged in validating the network for a solid 90 days. So, no more excuses!
No Pressure on Money
For Activate, token sales are merely one avenue to spread the wealth, with alternatives like airdrops in the cards. Skale Network’s Dutch Auction system emphasizes price transparency—like a yard sale where you only pay what you think grandma’s old lamp is worth, without the haggling!
The Lowdown on Skale Network
As you might expect from a network with
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