Bridged Asset To AO Surpasses $300M, Signalling Fast Ecosystem Growth
Bridged Asset To AO Surpasses $300M, Signalling Fast Ecosystem Growth
Sam Williams, the CEO of Forward Research said this signals to developers to build and that “AO opens an entirely new design space for creation, as well as a wide capital base for your services”.
Author: ArweaveB
Reviewer : Xiaosong HU
Source: Content Guild News
More than $300,000,000 staked Ethereum has been bridged into AO, this can be seen as a vital development to power the economy of the ecosystem and encourage developers to build.
As of the time of writing, there are 94,550 stETH worth about $314.50 million deposited on AO.
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Sam Williams, the CEO of Forward Research said this signals developers to build and that “AO opens an entirely new design space for creation, as well as a wide capital base for your services”.
Launched under a mechanism designed to be fair, according to Forward Research, the tokenomics of AO rewards Arweave token holders and encourages liquidity bridging to the AO network through incentives.
The fair launch will distribute 100% of the 21 million AO tokens to the community, 36% will be allocated to AR token holders and 64% to users who bridge assets from other networks to AO. AO is beginning with staked ETH from Ethereum and promises to support Solana later.
“The rest of the tokens are distributed for one simple task which is to grow AO’s economy. Smart contracting networks are digital economies but when there is no money in a digital economy, it does not matter how good the apps and services are, there is no one around to use them,” said Sam Williams, founder of Arweave and Forward Research. He also stated that tokens will be allocated to those who bridge assets from other networks to AO and if there is no money in a network, developers won’t have incentives to build. Therefore, there will not be apps and there will not be users.
“That is why AO’s token economics reward bringing capital to its economy so strongly; simply bridge staked assets from other networks into AO and you will receive a portion of the AO token rewards every single day,” said Williams.
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