Aventus Network Confirms Launch of Aventus 2.0 to Strengthen Network and Enhance Utility
New update focuses on increased transaction volume, ecosystem expansion, token holder engagement, and supply reduction
London, 22nd October 2024 – Aventus, a leading provider of enterprise blockchain solutions and parachain on Polkadot, today confirms the launch of Aventus 2.0, an evolution of the Aventus Network aimed at establishing a stronger foundation for long-term growth and value capture.
The update introduces several strategic initiatives designed to enhance network performance and stakeholder utility, including increasing transaction volume and overall network usage, expanding the ecosystem through successful partnerships with Layer 3 appchains, enhancing token holder engagement via a liquidity mining program, and reducing token supply via a burn mechanism.
The vision for Aventus 2.0 was developed by MVP Workshop, a Blockchain Product Research & Development Studio who designed Polygon Edge and Astar Network, in collaboration with Scytale Digital and the Aventus Services team.
Following the approval of a community governance proposal in which AVT token holders voted in favour of executing this vision, the Aventus Services team will implement the Aventus 2.0 plan over the next four months. This process underscores Aventus’s commitment to stakeholder-driven decision-making, ensuring that major network decisions are made through community consensus.
Aventus 2.0 comprises three main components:
- A Layer 3 appchain model, whereby enterprises are able to operate on the Aventus Network and benefit from the security, scalability, interoperability and decentralised infrastructure offered by the Aventus ecosystem.
- A liquidity mining program on Uniswap, including a custom user-friendly dApp, to enhance token holder engagement. Appchains are also able to request grants from Aventus community treasury and launch their own liquidity mining programs to drive liquidity for their own tokens, contributing a portion of their token supply and network fees to the Aventus treasury to support the broader Aventus ecosystem and its development.
- A new collator rewards mechanism to ensure a secure and efficient Aventus Network, alongside an automatic burn mechanism for a portion of gas fees to reduce the overall supply of AVT tokens in circulation.
Alan Vey, Founder at Aventus, commented: “Aventus 2.0 builds on important learnings from existing Aventus Network clients as well as the invaluable expertise of our partners at MVP Workshop & Scytale Digital, and represents a significant milestone in our journey to enhance the Aventus Network’s capabilities and deliver greater value to stakeholders.”
The appchain model is already seeing traction, with existing users of the Aventus Network having recently launched their own Aventus Layer 3 appchains.
Barry Helfrich, CIO at Enigmatic Smile, adds: “We needed the Voucher Ledger solution to be secure, fast and stable enough to process the discounts collected by hundreds of millions of users in our rewards ecosystem — no small feat, but Aventus has helped us build such a solution. The team has been helpful, professional and responsive throughout the process. We’re looking forward to continuing our long-standing relationship with them.”
The updated network will provide enhanced functionality and improved user experiences, positioning the Aventus Network as a trusted leader in enterprise blockchain solutions and key contributor to enterprise use cases within the Polkadot ecosystem.
About Aventus
Aventus is an enterprise blockchain solution provider dedicated to delivering secure, scalable, and user-friendly blockchain technology. With a focus on operational excellence and a commitment to adding value, Aventus empowers businesses to leverage blockchain for long-term growth and value creation. Founded in 2020, Aventus offers production-ready, end-to-end Blockchain-as-a-Service software that is modular, scalable, and interoperable, enabling clients to respond to rapidly evolving market opportunities.
