Voi Network, the community-powered blockchain, announced today both its operational success of its TestNet environment together with its seed funding from leading Web3 venture funds Arrington Capital and Sonic Boom Ventures.
BOSTON, Dec. 18, 2023 /PRNewswire-PRWeb/ -- Voi Network, the community-powered blockchain, announced today that more than 400 node operators have joined its user-centric ecosystem that is built, operated, and owned by those who add value to the network—from builders and users to active contributors. The network is a version of the open source Algorand technology with a new approach to fundamentals on ecosystem and decentralization. Voi has received seed funding from leading Web3 venture fund Arrington Capital, an original investor in Algorand, and Sonic Boom Ventures, founded by Steve Kokinos, former CEO of Algorand, Inc.
The vision for Voi is a blockchain for everyone that rewards its community and attracts mainstream users who crave simplicity. A transparent governance model is at the core of Voi and embodies the decentralized promise of blockchain. The governance committee, a collective of dedicated members, guides the network's evolution and evaluates proposals to ensure any changes are aligned with the community's core values and needs. This active governance underscores Voi's dedication to community-driven protocol development and management.
"We're deeply committed to the vision that a blockchain should be owned by those who are actually investing their effort and value into it. We've put our money where our mouth is, and designed the economics to reflect that principle," said Chris Swenor, founder of Voi Network.
Voi plans to allocate a majority of its market cap to provide economic incentives for its network contributors.
"Algorand is a time-tested, proven blockchain that delivers the scalability, speed and security needed for the next-generation of Web3," said Steve Kokinos, founder and CEO of Sonic Boom Ventures. "Voi's implementation of Algorand's open source technology serves to further the reach, value and adoption of the AVM (Algorand Virtual Machine) ecosystem. Voi has the potential to accelerate blockchain's mass adoption."
Key Pillars of Voi Network
To overcome the challenges of blockchain adoption, Voi's strategy is based on three pillars:
- Increased Ownership for contributors. By rewarding active participation, Voi empowers its contributors with greater ownership, fostering a robust and involved community.
- Accessibility for all. Offering seamless implementation and a simple user interface, Voi's pioneering wallet technology invites mainstream users to effortlessly explore web3 applications without blockchain knowledge.
- Community-specific focus. Starting with the $6 billion global loyalty management market, Voi is building the infrastructure for many other community-specific markets such as tickets or memberships.
Voi Roadmap to Mainnet
To ensure a robust network, Voi will roll out in phases as it moves toward public launch. With the Node Runners phase completed, the next phases are DeFi and Digital Ownership. During the DeFi phase, Voi will partner with Automated Market Maker (AMM) Humble to do intensive testing for tokens and token swaps that challenge the scalability, security, and operational fluency of the network. Part of this phase is the Token Wars, designed to test the capabilities of Voi's DeFi infrastructure and enhance community engagement. The Token Wars will invite meme coins from all other blockchains to compete in battles that cover everything from providing liquidity and transaction volume to total volume locked and token trading.
The last stage is Digital Ownership, which creates an infrastructure for digitizing real-world assets and ownership with real utility. Examples include: memberships, reputation, keys, Real World Assets (RWA) such as real estate, and more.
To join the testnet or for more information, please visit voi.network.
About Voi Network
Founded with community at its core, the Voi Network aims to be the blockchain for everyone. Voi has created new economic and governance models that reward and empower its contributors, and align with its core values. Built, run and owned by its community, Voi is focused on making blockchain accessible and easy to use for all.
Media Contact:
Media Contact
Chris Swenor, Voi Network, 1 616-606-0303, [email protected], voi.network
SOURCE Voi Network
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