Participate in the SKALE Launch & Stake on Activate!
UPDATE: For up to date instructions on the SKALE launch on September 3rd, please see the SKALE Sale Guide.
In order to create a decentralized network, you need a community willing to actively support it. Activate is the first platform designed to not only launch decentralized networks, but also make it easy for their users to manage and stake their tokens with the staking provider of their choice — all in a single application. We have worked hard over the last few months to develop a platform that seamlessly connects the users, enablers, and creators of decentralized networks.
You may have seen today’s news that on August 17th, users will be able participate in Activate’s first auction of the SKALE Network’s SKL token. The SKALE Network is an exciting layer 2 solution for Ethereum, designed specifically to improve the user experience of dApps, while significantly increasing transaction speeds, dramatically lowering costs, and creating seamless workflows for end users and devs. Their public Mainnet is already live, and with the SKL token auction, users will soon be able to stake SKL tokens in accordance with the SKALE Network’s protocol, and receive staking rewards directly from the network in return.
For that reason, we are calling this ConsenSys’ first ever “Launch & Stake.” The SKALE Network is the ideal first partner and a first mover in conducting a network launch of this kind. Participants will be able to purchase and stake their tokens on a functional mainnet all within a three week timeframe after the auction. From the very start, we are aligning incentives between the network participants and the network itself.
Here is a detailed explainer on how the Dutch Auction of SKL tokens will operate on Activate. The essential details are below:
Type: Dutch Auction
Start date: 17th August 2020, 12:00pm ET
Allocation: 3% of total circulating SKL supply (125,000,000 SKL)
Start price: $0.0350
Reserve price: $0.0169
Click here to learn more about Dutch Auctions on Activate.
Type: Delegated Proof of Stake
Duration: 3, 6 or 12 month Staking Period
Reward rate: 9% – 30% (annualized)
Start date: Early September
Click here to calculate your anticipated staking rewards on Activate.
Stay tuned for the upcoming release of the SKALE Staking Primer, and if you haven’t already, make sure to complete your registration on Activate!