Arweave’s new public chain AO coins are issued! 100% airdrop to the community. You can also earn new tokens AO by bridging stETH.

This site (120bTC.coM): The decentralized storage protocol Arweave launched the test network of its decentralized computing network "AO" in February this year and released it at the end of May. Release rules for $AO tokens. The currency was officially issued and the detailed token economy was announced yesterday (13th). Arweave token $AR holders have begun to receive the new token $AO.

$AO Token Economy

According to the official statement, $AO is a 100% fairly issued token with no pre-sale or pre-allocation. The total supply of $AO is 21 million, and the halving cycle is 4 years. It is distributed every 5 minutes, and the monthly distribution is 1.425% of the remaining supply.

However, although the number of newly minted $AO tokens will be halved every four years, there is no sudden "halving event". The minting mechanism of $AO will ensure that the number of new tokens will decrease slightly every month. There are reductions, resulting in a smooth issuance schedule.

On token distribution:

• Approximately 36% (100% for the first four months plus 33.3% thereafter) of $AO tokens are distributed every 5 minutes For $AR holders, these tokens incentivize the security of AO’s base layer – Arweave.

• The remaining approximately 64% of $AO tokens are allocated to bridge users to provide external benefits and incentives for bringing assets into AO.

It should be noted that officials state that $AO will remain locked until approximately 15% of the supply is minted, which is expected to occur around February 8, 2025. In other words, AO tokens will only become transferable on February 8, 2025.

Bridging stETH has been opened to earn $AO

The first phase of the bridge contract has been officially launched today. Officials stated that during this pre-bridge phase, users’ tokens will remain securely on their original network while they can earn $AO tokens.

Once the second phase of the bridge contract is enabled, users will be able to deposit assets into the new bridge contract and use these assets on the AO network while continuing to accumulate rewards. For users holding stETH, it is already possible to earn $AO by depositing tokens through AO’s minting webpage. It is expected that more POS assets will be opened in the future.

Bridging rewards will be distributed starting at 11:00 am ET on June 18, 2024. Users can redeem tokens from the pre-existing bridge contract at any time, but will only start earning $AO after June 18th. Rewards are distributed every 24 hours.

What is AO?

According to official documents, AO is a decentralized computing network that can handle many simultaneous computing tasks. This system is designed to reduce the need to rely on trust in the decentralized process and ensure that the process can be verified and verified.

Arweave founder Williams said: AO is a hyperparallel computer, which is a distributed computing environment that allows you to execute any number of programs in parallel at the same time. Previous decentralized computing systems either supported large-scale computing or verifiable computing. AO can do both of these things at the same time.

AO’s architecture is very flexible and can be easily integrated with existing smart contract platforms. It also allows users to customize various functions according to their needs, such as choosing different virtual machines, security measures and payment methods. .

Its main functions include: unlimited use of computing resources to run programs, direct connection to Arweave's data storage system, automatic triggering of contracts, and providing an efficient information transfer system to coordinate between different programs. interaction.

In short, AO is a scalable decentralized computing network based on Arweave.

The above is the detailed content of Arweave’s new public chain AO coins are issued! 100% airdrop to the community. You can also earn new tokens AO by bridging stETH.. For more information, please follow other related articles on the PHP Chinese website!