Cross-chain Protocol Connext Launches its Own Token

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The Connext project, which is focused on blockchain interoperability, has recently introduced the NEXT native token and announced the creation of a DAO.

According to the project’s statement, the asset, which is based on the ERC-20 standard, has been launched to ensure the “fair use of the network” and full decentralization.

Operators of Connext nodes will be able to stake tokens to participate in the network and receive a proportional share of fees. NEXT will also be used to manage the project treasury after the DAO is established. According to the post:

“We believe the community is the best long-term arbiter of resource allocation for the key contributors who drive our network forward.”

NEXT’s total issue will be 1 billion. The distribution of tokens will take place in approximately a month. To this end, the team has already made snapshots of user accounts.