We hope you’ve been enjoying the Raze Network Public Testnet and reaping as many $RAZE rewards as you can in our recently announced Bug Bounty Program.
We truly believe that collectively, we will steadily move toward our goal of producing an extraordinary product and experience for our users and bring true privacy to the future of the DeFi and Web 3.0 space.
To truly achieve this and benefit the Raze community who have been showing us nothing but support and faith in the project, we have asked for your input with our Notification on Future Token Release post.
We are very proud of this initiative and are happy to share the community consensus and its significance with you.
In this community vote, we proposed two options regarding the $RAZE token releases to alleviate the pressure caused by the recent market developments:
Option A — No circulating supply in the short term, the future tokens will be released when the market recovers and Raze Network Mainnet is live.
Option B — Increase circulating supply in the short term, but eliminate new selling pressure in the long term.
Community Vote Result
Over 67% of the participants voted in favor of Option B, which will eliminate new selling pressure in the long term.
We believe the results of this vote will propel us to a new token economy where the Raze Network community can have a better chance of taking control of its future.
Eliminating selling pressure in the long term means that Raze Network can focus on building the product and community that we originally envisioned, and be less distracted by short-term market noise.
In doing so, we will continue to enhance our current Public Testnet and continue on with our Mainnet target of Q4, 2021.
About Raze Network
Raze Network is a substrate-based, cross-chain privacy protocol built for the growing DeFi and Web 3.0 ecosystem. Applying zkSNARKS to the Zether framework, Raze is an EVM-compatible layer-2 middleware that will enable end-to-end anonymity for decentralized applications running on Ethereum, Polkadot, and Binance Smart Chain, with more layer-1 chain integrations roadmapped in the near future.
Our mission is to enable cross-chain, privacy-preserving transactions and activity for end users, shielding asset movements from surveillance while guaranteeing composability and faster settlement.