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Free Digital Token (TKO) Distribution Ahead of Taiko Project Launch on Ethereum

Announce Those responsible for the new blockchain network project Taiko announced a free distribution process via airdrop (Airdrop) for its native digital currency (TKO) for the benefit of its community members before the launch of its mainnet. The project is expected to distribute 5% of the total original token supply (TKO) of 1 billion units.

This distribution, called Genesis Airdrop, includes a wide range of potential beneficiaries, including those who have interacted with the Taiko testnet, block proposers and installers, contributors to specific GitHub repositories, and Ethereum ICO (ICO) participants. .

The breakdown of total Taiko coins will be as follows:

  • 20% to Taiko Labs and the core team.

  • 16.88% to the reserves of the Tycho Foundation.

  • 11.62% for investors.

  • In addition, it will retain Decentralized Treasury (Treasury DAO) of 20% of currencies.

  • While 5% is allocated to grants, another 5% to liquidity and market making, and 10% to Trailblazer distribution, which differs from foundation distribution.

The TKO coins that will be distributed for free will be able to be claimed on the Taiko mainnet once launched.

Distribution percentages of parts from the Taiko network to stakeholders Source: Taiko Labs
Distribution percentages of parts from the Taiko network to stakeholders Source: Tyco Labs website

Taiko mainnet is compatible with Ethereum

The Taiko mainnet is expected to launch in the near future, following years of intensive development across six testnets. The network will operate as an Ethereum-compatible virtual machine (ZK-EVM). Knowledgeless proof mechanism. This ensures its full compatibility with the Ethereum mainnet.

ZK-EVMs are used to ensure that smart contracts and decentralized applications (DApps) can operate on the Layer 2 network in the same way as on the Ethereum mainnet without requiring any modifications or changes.

Taiko Labs, the developer of the Layer 2 network, has raised significant funding to support its initiatives, raising $22 million in two funding rounds.

The Series A, a $10 million seed funding round, was led by Sequoia China in 2022. This was followed by a $12 million pre-Series A funding round in 2023 led by Generative Ventures.

And in a licence Daniel Wang, co-founder and CEO of Taiko Labs, confirmed to him that the team would disclose detailed distribution rules to avoid unnecessary discussions. Stressing that the goal is to achieve justice, while recognizing that it is not possible to please everyone.

With this free distribution, Taiko Network aims to strengthen its community, attract more users and developers to its platform, and strengthen its position as a major player in the field of layer 2 solutions on the Ethereum network.

reminder: Cryptocurrencies remain a high-risk investment, and investors should always research and study projects well before making any investment decisions.

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