Thread by @joshneuroth

Important internal meeting happening next week to finalize engineering plan for @ankr implementing tokenomics. April 4th begins our engineering sprints on full token utility.

What does this mean for the #ankr community?

[Long Thread⏬]

First, building in web3 is hard. Not only do you need to find product-market fit (a product many ppl will pay for), you also need to implement a micro-economy in your product, and even better if you do this in a way that enables community governance and decentralization.

We've been very conservative on incorporating the token. When we started this journey, DeFi didn't exist, DAO's were just an academic idea, and Proof of stake was in its infancy. We messaged "web3 infrastructure" before web3 was understood as a thing.

In October we announced Ankr Protocol - our move from a centralized provider... to a decentralized protocol. As a limited time deal, we offered 10k ANKR for an annual plan (still LIVE!). We were blown away. Projects started market buying ANKR to get the service.

With surging demand for web3, projects will soon move to a pay as you go in $ANKR.

The more $ANKR deposited, the better the volume discount will be. But more importantly, the sooner projects deposit ANKR the more credits they will get. These slowly distribute to node providers

Simultaneously, $ankr token holders will be able to vote for node providers, secure the protocol by creating an insurance pool, thus earn staking rewards on the $ankr token. We believe we can sustainably support a minimum of 11% APR 😮 and potentially even higher.

This creates buy pressure on each side of the marketplace. Projects/web3 companies/developers buy ANKR to use a service that is the fundamental in the space— the more they grow (& web3 grows), the more $ankr they need.

Additionally, this helps expand node providers / operators. "Run an ethereum node and earn" this is important! We shouldn't build a community where everyone outsources nodes to centralized providers.

We'll support a long locking period on $ankr staking as well as a max stake pool on each node. This is then incorporated into "Ankr Earn" where stakers get a liquidity token for Ankr itself.

As we progress though this, we will begin hosting LIVE monthly town halls. Look out for the invites ;)
⚓️🚀

🎮 Oh and the upcoming announcement at GDC - just adds more utility to projects which need $ankr tokens to buidl