The Aventus Network – the “full service” enterprise blockchain solution that brings scalability, speed, lower costs and interoperability to blockchain transactions – has announced that its native utility token AVT has been listed on international cryptocurrency exchange, Gate.io.
This is the third listing on an established cryptocurrency exchange for the Aventus Network in the past five months and could “open up the purchasing and selling of AVT to Gate.io’s 10 million registered traders in 190+ countries.”
The listing follows a governance polling round for the Aventus Network, where several proposals for new node operators on the Network received more than 1.5 million votes per proposal.
As explained in an update shared with Ci, nodes form the backbone of the Aventus Network, acting “as decentralized hubs for transactions passing through the system.”
Six of the ten nodes “are now operated by new validators, making the Network mostly decentralized and ensuring that there is no central bottleneck for applications running on Aventus.”
This will also “bolster the level of security of the Network and reduce the risk of hacks.”
This engagement in the governance program “demonstrates that Aventus’ token-holder community is ready and willing to participate in shaping its future, advancing the Network’s long term plans to completely decentralize.”
All token holders on the Aventus Network are “entitled to vote on upcoming decisions – including those purchasing AVT via Gate.io.”
In addition, Aventus concluded its first staking program, the Validator Registration Scheme, which “reached 100% capacity.”
Token holders who stake their AVT “are at the core of how the Network runs – any transaction, from an NFT minting to a ticket sale, requires staked tokens to be validated.”
As a reward for staking their tokens, validators on the Network “will now start to receive dividends in proportion to AVT they’ve staked.”
To date, stakers have “earned transaction rewards totalling 144,254 AVT from 12.25m transactions – with a further 45m transactions agreed but yet to be processed.”
The new staking model, set to launch in May, “will move over to a Nominated Proof of Stake model in line with Aventus’ partnership with Scytale Ventures to accelerate integration with Polkadot launched earlier this year.”
Alan Vey, Co-Founder and CEO of the Aventus Network, said:
“Aventus’ mission has always been to become a totally decentralised network, where anyone can build blockchain applications with the benefit of speed, scalability and cost-effectiveness. To achieve this, we have to hit three major goals: access for people to buy, sell and trade AVT freely and easily, an exceptional governance program with engaged voters, and a well-incentivized staking program so token holders are rewarded for being part of the Network.”
“In the past few months, we’ve hit milestones in all of these areas — we’ve listed on three major exchanges, proven the strength of our governance program, and rewarded our stakers for their loyalty. This will pave the way for the next phase of our journey towards decentralisation and our long-term goal of becoming a parachain, as we look to achieve true interoperability with the wider blockchain community.”
The Aventus Network is “a 2nd-layer blockchain protocol that lets any organization build on the Ethereum network without the typical limitations of speed, scalability, and price.”
Founded in 2017, Aventus makes “building on Ethereum accessible for businesses and decentralised platforms through fairer transactions for all — enabling the broadscale adoption of public decentralised blockchain through blockchain interoperability.”
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