We are pleased to announce that 01node will be a Crescent Liquid Staking Genesis Validator.
The 01node team believes in the future of the Cresent Network and confident that the platform will play an important role in the development of a optimized digital finance structure on the Cosmos Ecosystem. Therefore, 01node is interested in participating as a validator and actively supports the platform, helping it to remain secure and decentralized.
About Crescent Network
Crescent is a DeFi Hub that invites users on a journey to explore limitless possibilities of digital assets by unifying various blockchains in ways unseen in the Cosmos ecosystem.
CRE Token Functions
The CRE token is the governance token for all Crescent direction, in place to ensure the decentralized operation and evolution of the Crescent Hub. Upon genesis, CRE token will take on the following functions, which are also open for changes according to governance in the future:
- Voting on governance
- Staking rewards
- Ecosystem Incentives
Ecosystem incentive: The ecosystem incentive will make up 53%(530M), or the largest portion of the total CRE distributed. The majority will be distributed to users of the Crescent community. The initial designation for incentive is the Crescent’s first utility, the Crescent DEX.
Airdrop: The total airdrop amount for ATOM delegator is 100 million CRE. Among this, 50 million CRE is claimable upon launch of Crescent DEX (DEXdrop) which is at Crescent network launch. The remaining 50 million is distributed over a set period to ATOM delegators that use Crescent Boost (Boostdrop).
Strategic reserve: 100 million CRE is allocated to the strategic reserve. The aim for the strategic reserve is to boost the expansion and evolution of Crescent in ways that can benefit the network and its community. The strategic reserve can be used to secure key partnerships, at which the reserve CRE will be subject to a 3-year vesting period and vesting CREs are ineligible to delegate or vote to prevent potential governance centralization.
Team: The tokens reserved for the team will be released gradually to total 20% of the entire CRE supply over 10 years.
Staking rewards: Validators and delegators are a crucial part of maintaining the network’s security. The total staking reward supply will be 50 million CRE. Reward distribution is proportional to the amount of CRE delegated with the exception of a set commission rate by the validator.
Community funds: A community fund of 20 million CRE will be allocated over time to be spent by the Crescent governance for future changes made to benefit Crescent and its users.
More info on Crescent network:
01node is a high quality staking and validation service. We have the expertise and time tested infrastructure as a highly secure and reliable node. Our track record shows this reliability, We prioritize great focus on security and we ensure the best practices for every service we offer. We aim to provide the best performance and reliability through our physical infrastructure collocated in tier-3 datacenters.
Our existing validator nodes have secured value on several POS networks since their inception such as Terra, Iris, Solana, Cosmos, Near, E-money, IOV, Solana, Skale, Secret Network, Oasis and others who will soon launch like Celestia or Nomic chain, and Near Protocol. Collectively, we currently secure $540M in user-staked assets.