Cross-chain Protocol Connext Introduces its Own Token

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Connext, a project focused on blockchain interoperability, has introduced the NEXT native token and announced the creation of a DAO.

According to the statement, the ERC-20 asset is to ensure “fair use of the network” and full decentralization.

Operators of Connext nodes (routers) will be able to stake tokens to participate in the network and receive a proportional share of fees. NEXT will also be used to manage the project treasury once the DAO is established. According to the post:

“We believe the community is the best long-term arbiter of resource allocation for the key contributors who drive our network forward.”

The total issue will be 1 billion NEXT. The distribution of tokens will take place in about a month. The team has already made snapshots of user accounts for this purpose.

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