What is Cryption Network?
The Cryption Network is on a mission to increase crypto adoption and help normal retail users benefit from this space. While Ethereum has enabled several use cases like DeFi and contributed to blockchain and cryptocurrency adoption, it is currently struggling with traffic and network congestion resulting in high gas fees. This has made it difficult for retail users to participate fully in various DeFi derivatives, given that traditional AMMs like Uniswap charge around $50 to swap assets. However, Layer 2 (L2) solutions promise to address these challenges by significantly increasing network scalability without compromising security and decentralization.
To this end, the Cryption Network is set to launch on Matic (now Polygon) and leverage the platform in two ways: POS bridge for token/asset transfer from/to Ethereum (including CNT) and POS bridge for data/arbitrary message transfer from/to Ethereum. With this, the POS token bridge will make CNT token available across Matic and Ethereum chains. Users can quickly bring their CNTs into the Matic network, use CNT as required, and exit from the Matic at any time to get the equivalent amount of CNT on Ethereum. The team is currently exploring the POS Data bridge of Matic, and POCs have been developed as internal R&D projects to leverage the data bridge. Ultimately, the vision is to enable users on Ethereum mainnet to use various DeFi products launched on Matic (L2) while abstracting all the interactions happening under the hood.
The Cryption Network's token, CNT, is built on sound tokenomics principles to ensure sustainable growth of all its products. The primary function of CNT is to incentivize people to provide liquidity onto the exchange through yield farming with elastic supply. The tokenomics design ensures that CNT emissions increase as the price of the token decreases (up to a certain floor value) and reduce proportionately as the price of the token increases, limiting inflation yet ensuring increasing rewards. Yield farming takes up the highest stake in token distribution (close to 72%), and token ownership comes with voting privileges to help with the network's governance. CNT will also be required for access to membership-only product features, such as access to special portfolio strategies, exclusive access to groups, creation of bets on Seer, and governance on the protocol.
The Cryption Network's mission is to make crypto accessible to everyone, and the launch on Matic is a step in that direction. Retail users can finally reap the benefits of this space without high fees and network congestion acting as barriers. Additionally, the tokenomics principles ensure the sustainable growth of all Cryption Network products while incentivizing users to provide liquidity and participate in governance. With the POS token bridge, users can easily bring their CNTs into the Matic network and use various DeFi products launched on Matic (L2) without migrating to the platform. The Cryption Network is creating a new era of crypto adoption, and the future looks promising.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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