The token launch follows the successful testing of alpha and beta versions of the 5ireChain testnet.
5ireChain, an EVM-compatible smart contract platform focused on sustainability, is set to launch its native token, 5ire, on December 5th. While the exchange details are being kept confidential for now, the 5ire team did reveal that the exchange chosen for listing is a tier 1 exchange.
This news follows rigorous testing and the successful launch of the alpha and beta versions of the testnet, which surpassed over 20 million transactions and 300k+ active wallets in just a matter of months.
“The Testnet phase proved to be instrumental in refining the platform, and the feedback and participation from users were invaluable”, according to one of the team members.
According to Pratik Gauri, co-founder and CEO, “The token launch marks a pivotal moment for our ecosystem. This step will not only strengthen our presence in the broader blockchain space but will also amplify the positive impact we aspire to make in the world. It’s a leap towards creating a truly sustainable and for-benefit blockchain ecosystem.”
As one of India’s fastest-growing unicorns, 5ireChain has gained global support. At its core lies Sustainable Proof of Stake, a pioneering governance-based reward system incentivizing network actors based on their commitment to the 17 UN SDGs.
The 5ire tech stack is designed for innovation and user-centric experience:
5ireChain Explorer: An intuitive app to explore transactions and blocks.
Faucet: A companion app allowing users to deposit 5ire Coins to a Testnet wallet seamlessly.
Validator App and Nominator App: Empowering users to manage nominations to 5ireChain Validators and track Validator activities.
5ire Wallet Extension: A versatile wallet for sending, receiving, and swapping 5ire Coins or interacting with smart contracts on the 5ireChain network.
5ireChain IDE: Simplifying the deployment of smart contracts, making innovation more accessible.
5ire also has MOUs signed with different governments for crucial use cases.
5ire’s partnership with NITI Aayog underscores the company’s commitment to shaping a more equitable and decentralised internet. Teaming up with Network Capital, 5ire is actively contributing to the launch of a blockchain module, emphasising the importance of education and research in the blockchain domain.
Alongside collaborations with entities like Muzaffarnagar Police, Nebraska Police Department, and the Ministry of Agriculture in Nigeria, 5ire demonstrates its versatile engagement with various government bodies.
Involvement in projects ranging from Smart Policing Systems to educational programs and research initiatives not only showcases 5ire’s technological prowess but also highlights the broad societal impact of blockchain technology.
These partnerships signify a convergence of solutions and governmental efforts, establishing 5ire as a key player in fostering positive change through innovation and collaboration on a massive scale.
After due consideration, the team decided to launch the token as an ERC-20 token. Users will later have the opportunity to port their ERC-20 5ire tokens to 5ireChain once the mainnet is launched, utilizing a secure bridge. This future capability further enhances the versatility and long-term viability of 5ire, offering users flexibility in their ecosystem choices.
Prateek Dwivedi, co-founder, and CPO, stated:
“The 5ire token launch is a significant step forward for our community. This move not only advances the technical aspects of the 5ire ecosystem but also reinforces our commitment to the vibrant community that has been instrumental in our growth. We believe that the token launch will empower our community members, fostering innovation and collaboration within the 5ireChain network.”
The much-anticipated 5ire token launch on December 5th is a significant milestone. The news of the tier 1 exchange, although undisclosed at this point, is expected to be a significant boost for the community.
As the launch date approaches, anticipation and excitement are reaching new heights. The event represents not only a technological achievement but also a bold step towards creating a sustainable and for-benefit blockchain ecosystem.
Stay tuned for the exchange announcement, and keep an eye out for the latest advancements in the 5ire community.
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