{"id":60445,"date":"2022-04-21T14:41:36","date_gmt":"2022-04-21T11:41:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60445"},"modified":"2025-09-05T03:18:53","modified_gmt":"2025-09-05T00:18:53","slug":"cross-chain-protocol-connext-unveils-its-own-token","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cross-chain-protocol-connext-unveils-its-own-token\/","title":{"rendered":"Cross-chain protocol Connext unveils its own token"},"content":{"rendered":"<p>The cross-chain interoperability project Connext unveiled its native token NEXT and announced the creation of a DAO.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Happy to announce <a href=\"https:\/\/twitter.com\/search?q=%24NEXT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$NEXT<\/a> and the Connext contributor program today at <a href=\"https:\/\/twitter.com\/EFDevconnect?ref_src=twsrc%5Etfw\">@EFDevconnect<\/a> in Amsterdam.<\/p>\n<p>The future is crosschain!<a href=\"https:\/\/t.co\/qneh3Z4o1B\">https:\/\/t.co\/qneh3Z4o1B<\/a><\/p>\n<p>0\/x<\/p>\n<p>\u2014 Connext | Hiring @ DevConnect (@ConnextNetwork) <a href=\"https:\/\/twitter.com\/ConnextNetwork\/status\/1516738218670100486?ref_src=twsrc%5Etfw\">April 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the statement, the ERC-20 token is intended to promote \u201cgood-faith use of the network\u201d and full decentralization.<\/p>\n<p>Connext node operators (the routers) will be able to stake tokens to participate in the network and earn a proportional share of the fees. NEXT will also be used to govern the project\u2019s treasury after the creation of the DAO.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe believe that the community is the best long-term arbiter of resource allocation for the key participants who move our network forward,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>The total supply will be 1 billion NEXT. Token distribution will occur in roughly a month. The team has already created snapshots of user accounts for this purpose.<\/p>\n<p>In addition, NEXT can be earned through the launched Contributor Program. Participants in the initiative will receive rewards for contributing to the project\u2019s development.<\/p>\n<p>The program consists of five categories: <\/p>\n<ul class=\"wp-block-list\">\n<li>community leaders;<\/li>\n<li>developers;<\/li>\n<li>content creators;<\/li>\n<li>node operators;<\/li>\n<li>grant recipients.<\/li>\n<\/ul>\n<p>Before the token launch under the Contributor Program, points will be accrued. It is planned that they will be converted into NEXT following a vote on the relevant proposal in the DAO.<\/p>\n<p>In 2021, Connext <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-project-connext-raises-12-million-from-consensys-backed-mesh-and-1kx\">raised $12 million<\/a> from 1kx and the ConsenSys-affiliated Mesh.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cross-chain interoperability project Connext unveiled its native token NEXT and announced the creation of a DAO.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1578,596],"class_list":["post-60445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-connext","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=60445"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60445\/revisions"}],"predecessor-version":[{"id":60446,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60445\/revisions\/60446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=60445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=60445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=60445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}