The cross-chain protocol Connext Network has announced that it will release a token called “NEXT” in September and conduct an airdrop for early users.Connext, which enables users to easily transact across different blockchains, announced on September 5th that it would be launching a token called “NEXT.”

What is Connext (Next) ?

So what is Connex Network ? Developers can use Connext as an open protocol to build applications that simultaneously interact with any token and deploy them on any network.

Since its inception in 2017, the project’s mission has been to make Web3 more accessible to every user by abstracting away the complexities of blockchain. While Connext isn’t a bridge itself, it serves as a seamless and permissionless foundation for developers to create groundbreaking applications and experiences within a growing, primitive ecosystem.

What Are the Components of the Connext Protocol?

xCall: It is the fundamental cross-chain principle that utilizes the Canonical Bridge at its core, enabling interaction with meaningful cross-chain messages for security.

Chain Abstraction Layer: It allows users to interact with a dApp from any chain, enabling projects to integrate users from any ecosystem into their own.

xERC20 and Copying via Connext: It is a new open standard that allows tokens to move seamlessly between chains with zero slippage while being compatible with other bridges simultaneously, without taking ownership of tokens from token holders.

xGovernance: A codeless toolkit for inter-chain DAOs (coming soon!).

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What is Next Token ? 

NEXT, as a cross-chain xERC20 token on the Connext Network, supports fair usage and governance within the Connext Network.

Upon its release, NEXT will be used to govern the Connext DAO, which is responsible for raising funds for the ongoing development of the protocol.

Chance to Win NEXT Token Airdrop!

The NEXT airdrop can be claimed today, September 5, 2023, at 13:00 UTC on the Arbitrum, Optimism, Polygon, or Gnosis networks. You have until April 6, 2024, at 13:00 UTC to claim your tokens.

Initial Supply: 107,500,000 tokens (10.75% of the total supply)

To claim and control your tokens, please visit: Connext Network Airdrop

Additionally, at the same time, NEXT tokens will be listed on the ByBit exchange today at 13:00 UTC. If you are not registered with Bybit, you can take advantage of various opportunities by signing up with our 10% discounted registration link.

• The snapshot was taken on August 1, 2023.
• Contract Address: 0xFE67A4450907459c3e1FFf623aA927dD4e28c67a

What are the Requirements for Winning?

1. Have a total volume of at least $200, calculated across all transactions, with each transfer averaging at least $15 (across all transactions, as calculated).
2. Provide at least $1,500 in liquidity to the Connext Network for a minimum duration of 1 day.

Both of these criteria yield 1 point each. Here’s how you can accumulate your points:

Note: Unless otherwise specified, each condition grants 1 point.

Point System for Stablecoin Pool Trading Activity:

• Interacted with stablecoin pool swaps at least 25 times.
• Interacted with stablecoin pool swaps at least 50 times.
• Interacted with stablecoin pool swaps at least 100 times.
• Provided liquidity of at least $3,000 (2 points).
• Provided liquidity of at least $6,000 (2 points).
• Provided liquidity of at least $9,000 (2 points).
• Provided liquidity of at least $12,000 (2 points).
• Provided liquidity for at least 30 days.
• Provided liquidity for at least 60 days.

Bridge Usage Point System:

• 10 or more bridging transactions.
• 25 or more bridging transactions.
• 50 or more bridging transactions.
• Transactions conducted in at least 3 different months.
• Transactions conducted in at least 6 different months.
• Transactions conducted in at least 9 different months.
• Transactions conducted in at least 12 different months.
• Transactions worth at least $1,000 in V2.
• Transactions worth at least $2,500 in V2.
• Transactions worth at least $5,000 in V2.
• 6 or more transfers between different chains.
• 10 or more transfers between different chains.

Factors:

Partnership with another protocol will result in a multiplication of your points.

(1.5x Multiplier)

If you have interacted with NXTP, introduced at least once in November 2021, by adding liquidity or engaging in bridging, your points will be added to your scoring system, calculated vectorially.

Source: Airdrop Details

The distribution of NEXT Tokens is as follows:

Early Supporters: 23.43% Ecosystem and Strategic Supporters: 11.24% Early Team and Advisors: 11.61% Proxima Labs: 3.78%

For the community:

For DAO: 29.44% For Airdrop: 10.56% For Foundation: 10.94%

In total, the allocation for the community is 50.94%.

CONNEXT PROTOCOL INVESTORS:

Connext Protocol has raised a total investment of $21.7 million from various investment firms, including Polychain Capital, Polygon, Coinbase Ventures, OKX Ventures. With the latest investments, the market valuation of the CONNEXT Protocol is $250 million.

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