In our ongoing pursuit of creating a healthy sustainable ecosystem, while simultaneously establishing a fair token system for all stakeholders, ArGo has released amended tokenomics in our new updated Litepaper.
To avoid any confusion, this article will clarify the changes that were made and further delve into the $ARGO token utility, so our community will fully comprehend the extensive purpose and plan for $ARGO why changes were made.
The main aim of $ARGO is utilization in the ArGo ecosystem. It represents the functions specified in the code or contract of agreement between two trading parties in the ecosystem. It, therefore, becomes the fuel that makes all transactions possible, and without it, the ArGo ecosystem would collapse. $ARGO is also designed to flow in the ArGo economy. Thus, holding onto $ARGO puts the entire ecosystem at risk.
To achieve optimum distribution for use within the ecosystem, ArGo chose to divide its token supply of 100 million in the format given below.
The data above shows that ArGo has made efforts to ensure that its token distribution mirrors its plan for constant utilization of $ARGO in its ecosystem. It also indicates ArGo’s commitment to its community by committing over 50% of the total token supply to ArGo’s future.
- Token Utility
$ARGO provides a secure means of carrying out transactions within the ArGo community. It also acts as a convenient system to incentivize participation by the community in the ecosystem. To keep $ARGO flowing, ArGo created a reward system that gives community members $ARGO proportionate to the activity carried out in the ecosystem.
2. General token utility
$ARGO is designed to make all transactions possible on ArGo; thus, every service provided on the platform is only achievable if there is proof of transaction using $ARGO. For example, you can only access ArGo’s cloud storage service by paying for it through $ARGO and not any other token in the market.
3. Staking rewards
This is the incentive portion of the token. By committing or locking up a certain number of $ARGO, community members join an exclusive group that enjoys privileges, such as access to VIP features on ArGo. Staking members of the community also enjoy discounts on transactions carried out in the ecosystem. For example, you could end up paying less on the cloud storage service because of the amount of $ARGO staked.
4. Cross-chain web deployment
Through $ARGO, users of the platform can deploy their web apps to any of the decentralized storage networks (DSNs) they prefer. The token also helps users acquire plugins that elevate the services of their web apps.
By owning $ARGO, community members are entitled to improve the ecosystem by proposing changes and participating in voting. This makes the ecosystem reliant on its community members and not a central power currently in centralized platforms.
What ArGo does
ArGo makes front-end web deployment easy, effective, and efficient through its blockchain-based platform that takes your web app to the DNS (Decentralized Storage Networks). ArGo removes the hurdles of centralization and censorship through blockchain, ensuring that your web app is permanently deployed and experiences 100% uptime throughout its life.
The ArGo whitelist is officially open! To register your interest and be within a chance to take part in our upcoming IDO on PAID’s Ignition platform, please complete this form. To stay updated on the latest news and developments concerning whitelist and IDO dates, please follow our social media channels below.