Paralink Network, a multi-chain oracle platform for DeFi and other blockchain applications, has raised $ 2.8 million from notable investors including LD Capital, Kenetic, 3Commas, Genesis Block Ventures and NGC Ventures.
Paralink Network is expected to launch its testnet and deploy its Oracle solution across multiple networks, followed by a token generation event in the first quarter of this year.
PARA, the Paralink token, will be an incentive and governance token on the Paralink blockchain. PARA holders will be able to wager their tokens to earn governance rights. Among other things, their main responsibility will be the management of the relay quorum by continuous voting. In exchange for staking tokens and performing regular governance functions, they will earn APYs on their wagered amount.
The PARA token has a maximum supply of 1 billion. The initial tokenomics are structured accordingly :
Paralink is already working on integrations with key smart contract platforms, such as Plasm, Moonbeam, Edgeware, Darwinia and more.
