AIR ICO is live. This ERC20 utility token is trading for $0.53. Blockchain service Altair launched a total of 505,000,000 tokens. Altair is one of the fastest spinning stars in the galaxy. It is also the bridge from Centrifuge to Kusama. Thanks to this platform, users will be able to tokenize real-world assets and finance them on the Kusama network.
Altair combines Centrifuge’s industry-leading infrastructure to finance real-world assets on Centrifuge Chain before going live on Centrifuge Chain. The team created this network for the customers who want to test the bound of asset financing. With Altair, creators can tokenize their most experimental assets from NFTs to undiscovered ones and even finance them.
According to the team, Altair is for innovators and risk-takers who dare to push the limits of decentralized finance. The AIR token powers the network and gives its holders additional advantages.
Furthermore, the company has partnered with two leading exchanges: Kraken and OKex, to allow their users to contribute directly to its crowdloan. If users already have an account on one of these exchanges, they can securely participate in the crowdloan after its launch.
The Altair announced that for every KSM contributed for the company’s crowdloan that is locked for 48 weeks to secure its parachain slot; it will reward users with 400 AIRs. The customers can either claim their tokens through the chosen exchange or directly on-chain on the Altair platform
The AIR is the native token of Altair. With basic functionality delegated to Kusama, it has no limits. Thus, AIR has the potential to become more than a traditional network token.
Altair plans to use AIR for governance to develop its platform. Users will also be able to pay the transaction fees with this token. And AIR will help with securing the chain and rewarding adoption.
The Altair network will distribute AIR tokens to CFG token holders, 1 AIR for 1 CFG. At launch, the token supply will be 425 million.
The platform will burn a percentage of all transaction fees. Long-term, this burning mechanism will also serve to stabilize the AIR token supply.
Besides, Altair will mint AIR tokens over time to further incentivize chain security: through rewards to crowdloan participants on Kusama and nominators and collators on Altair. The company will also mint tokens to reward Tinlake participants to incentivize adoption.
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