Darwinia Network (RING)

Darwinia Network is a decentralized heterogeneous cross-chain bridge protocol built on Substrate, serves as critical infrastructure for interoperability across the blockchain networks. Darwinia Network focuses on decentralized cross-chain token swap, exchange, and market and enables single-chain application upgrade to cross-chain version, including Defi, Game, DEX, NFT market, and more. Its vision is to build the future Internet of Tokens.

Whitepaper

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Interest lvl

High

Updated: May 17, 2023

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User Rating

Highest

5/5 • 2 votes

Ticker

RING

Type

Utility-token

FoundedSingapore

Registration countrySingapore

Registration year2018

Ecosystems

Polkadot

What is Darwinia Network

Darwinia Bridge Chain is the most important part of the Darwinia Network, it is also the bridge hub of dapps and public chains.

Darwinia Network itself can operate as a stand-alone cross-chain network, and Darwinia chain will be responsible for consensus security and cross-chain interoperability. Meanwhile, benefits from Polkadot, which provides an open parachain network access method, Darwinia Chain can also chooses to access Polkadot as a Parachain of Polkadot, then Polkadot will take over and be responsible for the security of the Darwinia chain. All of the Parachain in Darwinia Network will be able to connect to a wider external blockchain network via Polkadot.

ECONOMIC MODEL

• RING

RING is the native token of Darwinia Network. It's used to pay for the GAS fee of the on-chain transactions and cross-chain services. RING can be staked for staking rewards and obtaining voting power to participate in the governance.

• KTON

KTON is a derivative commitment token of RING (Darwinia Network native token), which encourages long-term involvement. RING holders can voluntarily lock RING for 3–36 months and get KTON as rewards, compensating for the liquidity loss.  KTON can be staked for staking rewards and obtaining voting power to participate in the governance.

• STAKING

The Darwinia Network will distribute RING as an incentive to the participants of Staking. The process of Staking can also be understood as the POS mining process, where the miner obtains Staking energy by pledging tokens for POS mining.