In its latest Capital round, Lava Network successfully received an investment of 15 million USD from Jump Capital and other reputable funds. This shows the enormous potential of this project, so what is Lava Network? Let's find out with Coin68 through the article below.
What is Lava Network (LAVA)? Learn about the blockchain-specific Modular Data Access Layer
What is Lava Network (LAVA)?
Lava Network is the first modular data access layer dedicated toblockchain , it brings to market a native, modular specification that allows developers to add chains and data services to the protocol at the platform level. RPC will be the first service supported by the protocol but in the near future, the project will bring more options by integrating APIs from partners ( Subsquid ).
Lava will create markets around blockchain data services, besides, the protocol will also create an economy stable enough to ensure the quality of services. The quality of the service will be evaluated through the speed, accuracy and updating ability of the service providers. By upgrading the modular architecture and P2P network of Node Operators, Lava creates a unified platform for Multi-Chain access.
Developers & data consumers: With Lava, data consumers can access more than 30 chains simply, quickly and securely. This is guaranteed by the rewards provided to the providers, thereby binding them to responsibility for the accuracy as well as responsibility for ensuring the quality of the data.
Data provider: The benefit of Providers will be the ability to reach many developers and profit from their infrastructure. Currently, Lava has more than 250 providers on testnet including large providers like Blockdaemon and the project will also run additional incentive programs specifically for public RPC.
Basic information about LAVA Token
Token name | Lava Network Token |
Token | LAVA |
Blockchain | Updating… |
Token standard | Updating… |
Contract | Updating… |
Uses of Token | Utilities |
Total supply | 1,000,000,000 LAVA |
Circulating supply | Updating… |
LAVA Token allocation rate
LAVA Token allocation rate
LAVA Token allocation schedule
- Public Allocation (25%): All Token will be unlocked at TGE except for reserved rewards that will be distributed until year 4.
- R&D & Ecosystem (31%) : 25% will be unlocked at TGE, the rest will be distributed within 4 years from year 1.
- Investors (17%): 33% will be unlocked in year 1, the rest will be distributed within 3 years from year 1.
- Contributors (27%): 33% will be unlocked in year 1, the rest will be distributed within 3 years from year 1.
What is LAVA Token used for?
LAVA is the native Token of Lava Network and is used in the following cases:
LAVA Token holders can participate in reStaking and farming on the platform to earn profits.
As rewards for users in the platform, Lava is currently providing 5 main types of rewards for users including: Subscription Rewards, Incentivized RPC, Block Rewards, Provider drop, Provider & Validator Commission.
Development roadmap
Currently, Lava Network has not announced specific information about their development roadmap. Coin68 will update as soon as there is the latest information from the project.
Investors
As of the time of writing, Lava Network has received a total of 15 million USD from investment funds such as: Jump Capital , Tribe Capital, HashKey Capital, MH Ventures, PayPal , Finality Capital, Alliance DAO,...
summary
Above is all information related to Lava Network and the features that this project brings to the market. Through the article, we hope Coin68 has given readers an overview of Lava Network as well as the potential of this project in the future.
Note: Coin68 is not responsible for any of your investment decisions. Wishing you success and earning a lot of profit from this potential market!
