Press releases
CUDOS Computing Network Commences Exclusive Public Token Listing
Bitcoinist | Jan 12, 2021 | 13:34
CUDOS, the project aiming to create a global computing network for powering smart contracts, decentralized apps, and the DeFi economy, has just launched its exclusive public token listing. CUDOS enthusiasts and investors can now purchase the tokens, after being listed on BitMax.
CUDOS Network Facilitates Distributed Computing for Blockchain Technology
Cudo is an established distributed computing company that provides cloud resources at a fraction of the cost charged by centralized providers. With low-latency and high security, Cudo’s resources spring from hardware equipment that often sits unused. The company harnesses computing power from data centers, mining farms, but also from individuals looking to rent out their personal computers and gaming consoles. As such, hardware owners are incentivized to join the decentralized cloud computing network through ongoing rewards.
Cudo is now ready to power the booming blockchain industry by building the CUDOS Network – a layer 2 oracle that connects to Cudo’s cloud computing network. In doing so, smart contracts are deployed to harness the outcome of computing job requests that are handled off-chain. This approach yields significant benefits, as blockchain-based projects no longer require proprietary hardware resources. By leveraging the CUDOS network, dApps, DeFi projects, and other blockchain-related ventures will grow their usable infrastructure, thereby achieving new goals.
CUDOS fosters innovation by attributing virtually-unlimited processing resources to next-gen projects. Not only is the process secure and encrypted via AMD, but it is also transparent and able to cater to a limitless number of use case scenarios.
Exploring the CUDOS Tokenomics
The fully-fledged CUDOS ecosystem will be based on the financing obtained via token events. The company has therefore created CUDOS, an Ethereum (ERC-20) and Algorand (ASA) token boasting significant utility and profit potential.
- Announcing the Public Token Listing
Starting on the 12th of January 2021 at 9 AM EST, CUDOS enthusiasts can participate in the exclusive token listing being carried out on the BitMax exchange. The exclusive listing will last until the 19th of January at 9 AM EST, a period of time during which a series of reward-based events will also occur.
During the exclusive listing, a total of 166,666,667 CUDOS will be available for purchase at market price. Given the established reputation of Cudo and the huge potential behind the CUDOS Network, a bullish approach to the token listing is likely.
- CUDOS Token Distribution
With a hard cap of 10 billion CUDOS, 7.22% of the tokens have been involved within the private and public token events. While the private token sale has already been finalized, the exclusive token listing is live at this very moment.
The distribution will commence in Q4 2020, as per the following schedule: 34% platform development, 20% team, 5.5% private sale and strategic investments, 1.7% public listing, 5% advisors, and 33.8% to be kept in reserve.
The CUDOS tokens will closely abide by a token release policy that entails a lock-up period for the team and advisors. Vesting terms are applicable for all categories, apart from the public listing participants.
The funds raised via the token listing will be utilized to finance research & product development, marketing, user acquisition, community engagement, node validator, administration, operations, and potential contingencies.
- Token Utility
The CUDOS token fulfills a number of use cases through the method of staking. Holders who choose to stake 2 million CUDOS tokens will be able to run their own validator node (CVN), receiving rewards in exchange for assuring the transactional integrity of the network. Delegated staking for CVN support and MoE network powering is also permitted, albeit providing less lucrative incentives. Staking is also necessary to obtain general compute jobs and to receive fee discounts within the CUDOS ecosystem.
CUDOS Future Roadmap
Following the successful completion of the exclusive token listing event, CUDOS will launch the compute function on its validation nodes, as well as the platform’s testnet. The first quarter of 2021 will also see the appearance of hardware encryption via AMD’s tried and tested security protocols. During the 2nd quarter of 2021, the layer 2 compute oracle will be deployed on the Ethereum and Algorand blockchains. This will be succeeded by the marketplace launch, which developers can utilize to purchase pre-built compute workloads.
As expected, CUDOS will continue on its pathway to innovation by adding new services to its feature set and by consolidating its value proposition as the market’s best layer 2 oracle network for cloud computing resources serving the blockchain industry.
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