Theta VN unstaking to accelerate Theta ecosystem growth

For the past several years Theta Labs has unstaked certain amounts of THETA tokens from the project treasury in order to fund ecosystem growth, decentralize the Theta protocol and free space to expand the roster of Theta enterprise validators now up to 28 including Google, Samsung, Sony, CAA and many others.

These efforts have led to great strides in the past year, from the launch of Theta Metachain architecture, to new partnerships for Theta Video API with ABS-CBN, the launch of Metachain-powered AI projects like Lavita and FedML, to studio-level DRM tech used in live events like MetaCannes the World of Women Gala. Here’s a complete list of Theta ecosystem partners — https://www.thetatoken.org/ecosystem.

So far Lavita AI and Toonstar (Space Junk) have launched their own subchains under the Theta Metachain architecture, with Replay launching shortly and many more to join to take advantage of the Metachain’s highly customizable and infinitely-scalable subchain architecture. The addition of dev tools such as ChainSmith, the latest winner of the Theta Hackathon, will make future subchain launches even easier for developers and corporate partners alike.

Despite markets struggling this year in crypto and around the world, the Theta ecosystem remains in a strong position for future development and increased adoption globally. Theta Labs plans to once again unstake a small portion of its treasury — 30M THETA out of the total 150M treasury currently staked — to accelerate the momentum in core protocol development, community development and user adoption to further establish Theta as the leading blockchain for video, media and entertainment. These funds will be allocated to technology and business development, Metachain ecosystem incentives, future Theta Hackathon prize funding, marketing, and other strategic initiatives.

This initiative also continues moving the network toward full decentralization with Theta Labs reducing its staking percentage from ~27% to ~23% of the total Theta staked among all validators and guardians. These steps are ensuring Theta ecosystem becomes increasingly decentralized and less reliant on Theta Labs over time, which is important both to ensure users can trust the record of the Theta blockchain and also from other strategic perspectives.

This will be key to maintaining Theta Network’s leadership position as the de-facto Web3 infrastructure and blockchain for the media and entertainment and the fast evolving AI industries. We are excited to continue driving innovation across livestream video, decentralized video-on-demand, edge computing, AI, NFTs, live experiences, and much more to come.