PermaDAO Introduces New Token Model for AO with 100% Fair Launch
The Arweave-based parallel computing network, AO, has generated significant attention with the release of its brand new token model. According to an announcement on AO’s official Twitter account, AO will have its own independent token called $AO. The new token model introduces a fresh approach to distribution and issuance, and here are the key details of the release:
1. Fair Launch: $AO will be issued through a 100% fair launch, meaning there will be no pre-mining, pre-sale, or preferential treatment.
2. Token Minting: All $AO tokens can be minted through three methods – bridging with AO, holding $AR tokens, or participating in network development.
3. Issuance Mechanism: The total supply of $AO is set at 21 million, with 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 mechanism.
5. Launch Time: The genesis block is scheduled for June 13th, 11:00 AM Eastern Time.
However, the official statement also clarifies that users from the United States and sanctioned regions will not be able to mint $AO through bridging networks.
From the mode of release, it is evident that the official aim is to ensure a 100% fair launch of the token. It is worth noting that bridging to AO is one of the ways to mint tokens, with AOX (aox.xyz) currently being the only cross-chain bridge in the AO ecosystem.
Paying Homage to Bitcoin
The $AO token model adopts the same total supply of 21 million and four-year halving mechanism as Bitcoin. These design elements not only guarantee the scarcity and fairness of the token but also pay homage to Bitcoin, showcasing a recognition of decentralized and equitable distribution principles.
As time progresses, it remains to be seen whether AO and its new token model will gain market recognition.
