Lava Network Releases LAVA Token Economics, 6.6% Will Be Used for API Provider Rewards

2024-04-26 11:01:39BlockBeatsShare to:

LAVA-1.43% ($0.03221)

According to BlockBeats, on April 26, modular blockchain infrastructure developer Lava Network released the LAVA token economics. The total supply of LAVA tokens is 1 billion, and a deflation mechanism is used to attract API providers (Provider) in the initial stage of the mainnet. 25% of the tokens will be used for future plans and reward reserves (6.6% of the tokens will be used for monthly allocation to provider rewards); 31% of the tokens will be used for research and development and ecosystem protocol maintenance and development; 17% of the tokens will be allocated to investors; 27% of the tokens will be allocated to early contributors, core teams, consultants and other contributors. In addition, validator rewards will decrease as the LAVA staking percentage increases, and will decrease linearly between 60% and 80%. When the staking ratio reaches 80%, the rewards and half of the subscription fees will be burned, making them no longer in circulation. LAVA token holders can choose to stake tokens to validators, re-staking with providers, and participate in on-chain governance. Users purchase LAVA subscription plans on the chain to access various API "specifications" through the Lava protocol. A "specification" is a module object defined by the management department, which specifies the types of APIs that providers must support. Providers stake tokens on a single "specification" to ensure the integrity of their services. Lava Network completed a $15 million seed round of financing in February, led by HashKey Capital, Jump Capital and Tribe Capital.

LavaswapIntro

LavaSwap is the firs...All

LavaswapMarkets

Price	$0.03221 USD	Price Change (24h)	-1.43%	Trading Volume (24h)	$223,168.04 USD
Market Cap	$--	Circulating Supply	--	Max Supply:	1,000,000,000

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