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The Raiden Network Token (RDN) Launch is set to October 18th

The Raiden Network Token (RDN) Launch is set to October 18th

TL;DR: The Raiden Network token launch is approaching quickly and is planned for next Wednesday, October 18th around 3pm UTC.

What is the Raiden Token (RDN) Launch about?

The Raiden Network aims to provide fast, cheap and scalable token transfers. This is possible by taking token transfers off-chain and avoiding the global consensus bottleneck of blockchains (explainer video).

There are multiple proposed blockchain scalability solutions. But in our view, only payment channel networks like Raiden seem to combine the low cost, low latency and scalability properties which are necessary for making blockchain-based payments viable.

In an earlier blogpost we described the Raiden token model, how RDN can be used with µRaiden and how it is envisaged to become the default token to pay for third parties in a Raiden Network.

While the Raiden project has its roots in the Ethereum ecosystem, it is not an Ethereum Foundation project and it is also not limited to Ethereum. The Raiden Network aims to become the default payment channel network for Ethereum, as well as for other upcoming EVM compatible blockchain systems such as Polkadot, Cosmos, Dfinity and others.

The following describes the token allocation, the format of the token launch and outlines how to participate.

Initial RDN Allocation

A total (fixed) supply of 100,000,000 tokens will be generated which will be allocated as follows:

Public auction (50%)

Tokens which are offered during the auction. We aim for a broad distribution of tokens and the auction format should prevent whales from quickly buying up the offered supply early on. Instead everyone should have a fair chance to acquire tokens.

Retained by brainbot labs (34%)

Retained RDN tokens are envisaged to be used to sustain the long term development and maintenance of the protocol as well as its ecosystem. Parts of the tokens may also be use...

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