Arpa Network, a decentralized computation protocol, has officially launched on the Ethereum mainnet, developers confirmed to CoinDesk. The launch allows Ethereum developers to use Arpa to build and deploy decentralized applications (dapps) such as lotteries, gaming, decentralized voting systems, and identity management systems.
Arpa developers say the network allows users to conduct blockchain activities and transactions in a way that preserves privacy, such that on-chain behavior cannot easily be traced back to an entity or group of users, said journalists.
On June 22, Arpa Network will initiate the minting of the remaining 500 million arpa (ARPA) tokens that have been reserved for staking rewards. These tokens will also serve as a reserve to fund the growth of the Arpa ecosystem. The tokens will be released incrementally, ensuring a gradual vesting process for stakers, validating nodes, and other ecosystem participants.
The network is now finalizing a six-month community pool staking program, with plans to allocate 1.5 million tokens as monthly rewards. Community members can stake tokens to earn rewards and monitor the network’s performance. Each arpa exchanged hands for 5 cents as of Wednesday morning, with a market capitalization of $50 million, data shows.
Arpa Network developers added that they are pursuing integration with other EVM-compatible chains such as BNB Chain and exploring the potential of layer 2 chains.