Akash Network AKT
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Akash Token is a utility token powering the world’s first decentralized cloud for DeFi and high growth organizations.
Akash is the DeCloud for DeFi, and the world’s first decentralized cloud computing marketplace, accelerating scale and price performance for high-growth industries including DeFi, decentralized organizations and applications, and machine learning/AI.
With advanced containerization technology and a unique staking model to accelerate adoption, Akash will be a faster, more efficient, and up to 10x lower cost cloud providing unprecedented scale, flexibility, and price performance.
Akash Network supports generic compute – any cloud native applications running on the cloud today (AWS, Google Cloud, Microsoft Azure or Alibaba Cloud), can run on Akash.
Akash Network is a sovereign proof-of-stake chain built on Cosmos Hub, that leverages Akash Token (AKT), a native utility token, as the primary means to govern, secure the blockchain, and provide a default mechanism to store and exchange value. AKT will act as the reserve currency in Akash’s multi-currency and multi-chain ecosystem, while ensuring economic security of the platform’s public blockchain by means of Staking.
AKT holders stake AKT to secure the Akash PoS network and in exchange earn rewards. Early adopters naturally gain higher rewards.
Rewards comprise inflationary rewards and will include a share of the total network spend (Take Income) users pay.
In the early days of the network, when meaningful income is not yet realized from network cloud spend, Akash stakers earn from inflation rewards and transaction fees. To learn more about Akash Economics, check out the white paper.
To learn more about the earning potential of Akash Token, please see this post.
3 main wallets to stake AKT
At Genesis, the initial inflation set to 54% Annualized APR per month gradually decreases each month and halves every 3.75 years. This model maximizes reward for early stakers as an incentive to secure the Akash blockchain in its nascency. Check out Lunie’s Akash Network Staking Guide.
There are 100,000,000 AKT pre-mined at Genesis with a maximum supply of 388,539,008 AKT.
The unlock schedule is on-chain as specified in the Genesis file. AKT Staking Rewards are unlocked from Genesis
Akash Network is a sovereign proof-of-stake chain built with Cosmos SDK, that leverages Akash Token (AKT), a native utility token, as the primary means to govern, secure the blockchain, and provide a default mechanism to store and exchange value. AKT will act as the reserve currency in Akash’s multi-currency and multi-chain ecosystem, while ensuring economic security of the platform’s public blockchain by means of Staking.