/SKALE to be the first project to launch a token on Activate by ConsenSys Codefi

SKALE to be the first project to launch a token on Activate by ConsenSys Codefi

Activate, by ConsenSys Codefi, a platform designed to launch decentralized networks and allow customers to purchase, manage, and use their tokens — all in one application, today announced the upcoming launch of the SKALE Network, a decentralized elastic blockchain platform for securely scaling Ethereum based dApps.

Activate was announced in October 2019 for the purchase, distribution, and use of utility tokens to bootstrap early-stage network utilization. Through its unique platform design, Activate requires networks to launch and be usable at or immediately after selling any tokens to launch participants. Moreover, Activate ensures that participants cannot simply flip tokens for passive speculative purposes, but rather requires them to use their tokens for their intended purpose.

In the case of the SKALE Network, token holders must contribute to the security and scalability of the network by delegating to or serving as validators on the network, thereby earning rewards. The goal is to create a strong base of token holders who are incentivized, and in fact, programmatically required, to use their tokens for their intended purpose which should, in turn, yield a stronger mainnet launch in Q2 2020.

“Layer-two scalability solutions are bringing lightning-fast high transaction throughput and more flexibility to Ethereum. The SKALE Network is a state of the art solution, representing a configurable and low-cost layer-two platform for developers to enable near-instant execution of smart contracts. Activate is setting the standard for fair and maximally distributed token networks, while providing a seamless and consistent validator and user experience to ensure all participants interact meaningfully with the SKALE Network  — and decentralized networks of the future.”
– Joseph Lubin, Founder of ConsenSys and Co-Creator of Ethereum

SKALE Network is an elastic blockchain network that enables developers to easily provision fully configurable decentralized chains that are instantly compatible with Ethereum. SKALE Chains can execute sub-second block times with over 2,000 transactions per second on every chain, and run full-state smart contracts, in addition to decentralized storage, and machine learning in EVM. Over 35 dApps are currently building on SKALE, ranging from games to DeFi to streaming audio and more.

“With a focus on building social impact dApps, we are especially sensitive to cost and speed to market because it means our dApps can do more good, for more people, faster. We met the SKALE team at a hackathon and were up and running in almost no time with sub-second transactions at a gas cost that was a small fraction of what it was before.”
– Jakub Wojciechowski, CTO of Alice

By launching through Activate, the SKALE Network will further decentralize and distribute its security, which already boasts an impressive base of supporters who are committed to participating in the security of the network, including Blockchange, ConsenSys Labs, Galaxy Digital, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, Signia Venture Partners, and Winklevoss Capital. Founded by two veteran startup software executives with multiple successful exits, Jack O’Holleran and Stan Kladko, the SKALE Network is supported by the N.O.D.E. Foundation.

Users who choose to participate in the upcoming token launch on the Activate platform will begin by completing the verification and bidding process to purchase tokens. Verified consumers utilize Activate’s built-in tools to purchase, manage, and stake their tokens through third-party validators responsible for confirming transactions on the SKALE Network. Token holders will then earn rewards as a network incentive for their participation as set by the SKALE Network. Activate offers a frictionless experience with intuitive interfaces that will allow users to utilize their token for their intended purpose.

“SKALE was really a project born out of a passion for scaling the Ethereum ecosystem to one billion-plus people. After talking to the Activate team, it quickly became clear that their approach to managing a network launch was aligned with our core values of putting developers and the health of the network first. Whether that means great user experience for token holders, thorough team and technology vetting, or making sure that core-team incentives are aligned with overall network health. We’re excited to work with ConsenSys Codefi to show how a successful network launch can work to everyone’s benefit.”
– Jack O’Holleran, co-founder, SKALE Network

How to Join the Waitlist

Pre-register for the SKALE token launch on Activate and create an account in a few seconds. Users will then be guided through a short onboarding process where they will be required to perform KYC and ID verification. Upon successful verification, they will be required to complete a short tutorial designed to test their understanding of the SKALE Network and the SKALE token.

Once completing the prior steps, users will be eligible to participate in the SKALE token launch when it goes live. Only eligible users who have successfully completed this process will be able to participate in the live token launch.

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