Focus on shipping, things will follow seems to be Akash Network’s operating mantra. The team has achieved a number of things over the past two months and outcomes speak for themselves.
It feels like barely any time has passed since the launch of Akash mainnet, I am still on launch party mode, and the network has already surpassed One Million blocks 🎉. The One millionth block was committed on Dec 6th, 2020.
Right after the mainnet launch, BitMax had an IEO for AKT(native token of Akash network). BitMax raised $1.8 million making it the first exchange to list AKT with the initial trading price of $0.402.
Parterships… Partnerships… Partnerships
Soon after the mainnet launch and BitMax listing, Akash announced a whole host of successful partnerships.
- SNZ, one of the largest venture capitalists for crypto, joined Akash Network as a Validator and investors.
- Akash Network announced integration with ChainLink oracles to power pricing data.
- Akash Network took over the maintenance of the Golang IBC Relayer starting in July 2020. Integration with IBC is at full force and is expected to launch along with an upgrade to Mainnet-2. This will play a crucial role when IBC will be ready for use.
- Akash Network expanded it’s community arm and launched Akash Network’s Korean Community in mid October.
- The team announced Integration Partnership with Cosmostation Wallet. Keplr Wallet extended its support for AKT in November. In preparation for this Akash team hosted lunie-lite to allow smooth transition for existing lunie users to these wallets.
- The creator of Bash Shell, Brian Fox, joined as an advisor for Akash Network.
- AKT is now tradeable on BitMart Exchange after the team announced a partnership with them.
The Akashian Challenge — Phase 3
Akash Network concluded it’s incentivized testnet; The Akashian Challege Phase-3 on Dec 12, 2020. Phase 3 focused on developer operations on DeCloud! With a massive 500,000 AKT in rewards (~350,000 USD), this made Phase-3 one of the biggest incentivized testnets in any of the PoS networks.
One of the biggest takeaways from the testnets was surprisingly it’s documentation. From Founders Challenge to Akashians challenge, the team never failed to amuse users with it’s well-written docs.
A few stats on The Akashian Challenge — Phase3
Total Rewards Allocated: 500,000 AKT
Total Leases Created:
Unique Applications Deployed:
Number of validators participated: 132
Number of apps published on Awesome Akash: 59
Number of interactions with DeCloud: 23,388
First Proposal on Akash Mainnet : Decrease target inflation rate to 47%
Akash Network token economics are a bit different from other Cosmos based networks out there. As per the token economics white paper, a governance proposal was created on 19th Nov, 2020 to decrease the target inflation to 47%. The proposal passed with 100% YES votes without any disputes.
More details: https://akash.aneka.io/proposals/1
AKT — Performance Overview
Here are a few stats of AKT (as of 14th Dec, 2020)
Market Cap: $20.08 million USD
Global Rank (By MC): 388
Current Price: $0.756 USD
ROI: 70.14%
All Time Low: $0.333 USD (Oct 23, 2020)
All Time High: $0.88 USD (Dec 02, 2020)
(Source: CoinMarketCap)
Network Stats:
A total of 11.13M AKT have been paid out to valdiators and delegators as block rewards, totalling out to $7.09 million USD. The bonded tokens on Akash Network is at it’s all time high with 86.89% of the tokens bonded to the validators. It is the highest bonded percentage for any Cosmos based networks.
Initial Circulating Supply : 1.8M AKT
Current Circulating Supply: 26.56M AKT
Bonded Tokens: 96.58M (86.59%)
Total Network Rewards: 11.53M AKT
Total Supply: 111.53M AKT
Total Blocks Produced: 1.11M
Current Voting Power: 96.56M
Total Accounts: 951
Total Transactions: 348,775
Total Validators: 64/76
Current Inflation Rate: 51.19%
DQ (Decentralization Quotient): 0.42
(Source: Aneka Block Explorer)
We are equally excited to see DeCloud on Akash Mainnet-2. It was a busy 10 weeks after the mainnet launch for the team and they delivered outstanding things during the period. With Akash’s recent testnet, the platform proved to be ready for production usage. There are a couple of issues found during the testnet, we can expect an announcement about mainnet upgrade soon after the fixes are available.
