Celer Network, the layer-2 scaling platform for blockchains, today announced that it is launching a token sale on Binance Launchpad, a platform helping blockchain startups raise funds needed to develop its products. The Launchpad service helps in aiding cryptocurrency adoption and provides development teams with Binance’s advisory resources and access to its ecosystem.
Celer Network makes it possible, for the first time, to build, operate and use highly interactive and low-cost decentralized applications that match the user experience of centralized applications. Celer Network enables instant, easy and secure blockchain transactions through innovations in blockchain-agonistic layer-2 scaling technology and incentive-aligned crypto-economics designs.
Celer Network’s testnet already allows Ethereum transactions and finality latency to be 20,000X faster with zero-fees which revolutionize the user experience for blockchain use cases including interactive gaming, decentralized derivative exchange, micro insurance, decentralized electricity power exchange, decentralized Internet services, general pay-per-use services, non-custodial financial assets exchange and more.
In early February, along with the Sirius testnet launch, Celer Network released CelerX, the first and only layer-2 application platform on iOS and Android. Backed by the most advanced off-chain scaling platform, CelerX users can try out instant and zero-fees payment, and a skill-based Gomoku game.
[perfectpullquote align=”full” bordertop=”false” cite=”Binance CEO and Founder, Changpeng Zhao (CZ)” link=”” color=”” class=”” size=””]“The lack of valuable solutions and good user experiences of blockchain-based technologies are caused by its limited scalability possibilities which have been a major hurdle towards unlocking its significant adoption potential to date. Celer is currently at the forefront of solving this challenge with the early demonstrations of its sustainable crypto-economics construct and layer-2 blockchain architect powering it.”[/perfectpullquote]
Celer Network’s native token, CELR token, drives cEconomy, the indispensable layer-2 crypto-economic constructs of the Celer Network.
Functionalities of CELR token include:
- CELR is used in State Guardian Network as a membership staking token to protect state availability, provide connectivity oracle and act as channel dispute computation engine. CELR token stakers receive a service fee for the above services that they provide for the network.
- CELR incentivizes a stable and abundant liquidity pool in Proof of Liquidity Commitment process.
- CELR is used in Liquidity Backing Auction to increase the priority of liquidity backing bids and therefore statistically increase the liquidity interests payout of stakers.
- CELR can also be used as a medium of exchange by end-users to pay for layer-2 scalability services.
For more details concerning token use cases, check out the Celer Network whitepaper, and check the video links below of the Celer Network crypto-economics educational series:
- Part 1: State Guardian Network-Solving the “watchtower” problem of layer-2 scalability platforms
- Part 2: State Guardian Network-Bring rage quitters to justice with a connectivity oracle
- Part 3: Proof of Liquidity Commitment and Liquidity Backing Auction: Building an abundant and stable liquidity pool for layer-2 protocols
[perfectpullquote align=”full” bordertop=”false” cite=”Celer Network Team” link=”” color=”” class=”” size=””]”Finally, please stay vigilant to scammers. All token sale-related information will be posted on the Binance Launchpad website before the sale starts. Binance Launchpad is our exclusive token launch partner. For the last private token sale, we did not allow any form of pooling or proxy. Our team will never ask for your private keys or ask for token purchase proceedings directly.”[/perfectpullquote]