🎉 Over 40% of our tokens are staked on-chain! 🔒
More than 40% of our current circulating supply of CUDOS tokens is locked in our on-chain staking contract! This is great news and a huge success for a few reasons…
First, we only launched our staking platform about a week ago on 2 August 2021. So, we are pleased with the interest and support from our community in such a short time. It shows that our community recognises the growth potential of our network.
Second, having such a substantial chunk of our circulating supply locked will allow us to hit the ground running when the Cudos Network Mainnet is released. Importantly, it will have enough tokens staked to function securely.
Third, it means that a lot of our backers and early adopters benefit from the annual percentage rate that comes with staking.
So, if you also want to join our growing community of supporters, go ahead and stake your CUDOS right away!
Useful links:
View statistics for our validators & CUDOS staking network
About Cudos
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network being designed to ensure decentralized, permissionless access to high-performance computing at scale and enables scaling of computing resources to 100,000’s of nodes, by tapping into Cudos’ distributed layer 3 network. Being developed in the Cosmos ecosystem, the Cudos network will enable scalable compute and layer 2 oracles on all of the bridged blockchains, including Ethereum, Algorand and Polkadot. Most remarkably, Cudos can be used to provide Turing-completeness to Turing incomplete layer 1 networks.
The Cudos Network, being built on Cosmos, also supports the Inter Blockchain Communication (IBC) protocol. This ensures full integration in the thriving Cosmos ecosystem and access to all its users and features. The Cudos Network is a decentralised Proof of Stake (dPoS) network. This means that it has lower gas costs, high transaction throughput and more scalability compared with any PoW network, among many other benefits.
