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Polkadot Rollup, Hyperbridge, Extends Initial Relayer Offering After Selling Over 52 Million Tokens
In a surprising move, Polkadot Rollup and Hyperbridge have announced that they will be extending their initial relayer offering deadline. This decision comes after selling an astonishing 52 million tokens, exceeding expectations.
According to the announcement, the new deadline for the Initial Relayer Offering (IRO) has been set for February 28th, 2025. The move aims to provide prospective participants with a limited-time opportunity to join the Hyperbridge network, while still being eligible for incentives and bonuses.
The extension is seen as a major boost to the project’s momentum, considering that over half of the total token supply of 100 million has already been sold. This significant milestone underscores the growing confidence in the platform’s mission and vision.
As part of this offering, early participants who join before the new deadline will still be eligible for bonuses. For those who miss the original deadline, a limited opportunity remains to secure their position within the ecosystem by participating in the extended IRO.
The project’s mainnet launch is a crucial step forward in its journey towards transforming blockchain interoperability. The Gateway Token Bridge has already been successfully launched, enabling users to securely and scalably transfer tokens across different networks.
As the protocol expands, it becomes clear that Hyperbridge is poised to revolutionize the way we think about cross-chain applications. By integrating with multiple ecosystems including Ethereum, Optimism, Arbitrum, Base, BNB Chain, zkVerify, Gnosis, and Bifrost, Hyperbridge is set to play a pivotal role in shaping the future of web3.
In a unique approach, the token collected as transaction fees will be used to fund incentives and rewards for both relayers and block producers. This novel strategy aims to ensure zero inflation, setting a new standard for decentralized governance.
The token will also have a crucial role in the platform’s governance mechanism, allowing holders to participate in decision-making processes that shape the direction of the project.
With its innovative architecture and focus on security, verifiable interoperability, Polytope Labs, the team behind Hyperbridge, is committed to advancing truly decentralized technologies.
It remains to be seen how this development will impact the wider crypto market.
Source: blockonomi.com
