POKT Network will implement a long-term deflation plan that will last until 2025

POKT Network (also known as Pocket Network) has made important improvements in the token economic model, successfully reducing the inflation rate to below 5%, and plans to achieve deflation in 2025. The inflation rate is expected to be by the end of 2024 dropped to below 2%. POKT Network's "UltraSound Infrastructure" is the first deflationary protocol to generate revenue in the Web3 field and has also become the API facility for the crypto industry to open the Internet. These improvements will provide POKT token holders with a more stable and sustainable economic model and more reliable infrastructure for the crypto industry.

In May 2023, Pocket Network’s governance body, the DAO, introduced protocol revenue through a token burning mechanism. This move plays a vital role in building a more solid economic system for Pocket Network. Subsequently, in July 2023, the DAO adopted an inflation control mechanism. These measures are very important to further promote the development of Pocket Network. In the coming quarters, Pocket Network will more carefully manage the token supply to further reduce inflation. We expect this will help further solidify Pocket Network’s position on the Web3Index protocol revenue rankings. Currently, Pocket Network has become one of the top five in the ranking, surpassing other major projects in the same track.

By 2024, POKT Network's main goal is to expand demand through its "Gateway" strategy and plans to achieve more than 1 trillion relays in the current innovation cycle. Central to this strategy is opening up POKT Network’s infrastructure so that more businesses can build and develop on top of it and provide services to their customers. This will not only expand demand and increase the addressable market, but is also expected to drive growth in POKT Network protocol revenue.

Due to the POKT Network’s unparalleled coverage (one connection covers 50 blockchains), superior resilience (99.99%+ uptime), and unparalleled low cost (~80% lower than centralized alternatives) (cost) and other advantages, gateways (including crypto-native operators and traditional operators) are playing the role of customer expansion channels, and they can obtain incentives from the network in the long term. All these advantages are brought about by the decentralized nature of the POKT Network network.

POKT Network’s early gateway (Grove) has already established partnerships with leading companies such as Infura, which occupies a market leader position in blockchain data provision. By partnering with POKT Network’s core infrastructure, Infura is able to meet its business needs. In addition, the second batch of gateways (Nodies) have been put into use on the POKT Network, further expanding the coverage of the network. Going forward, POKT Network also plans to announce two additional gateway plans within the next month, and by the end of 2024, more gateway plans are expected to be launched to further improve the scalability and performance of the network. These collaborations and plans will lay a solid foundation for the development of POKT Network, enabling it to meet the growing needs of blockchain applications.

Each gateway has the ability to expand demand and protocol revenue. This demand has attracted new operators to serve it, thereby improving service quality and redundancy. At the same time, this continues to attract new gateways to participate. The careful design of POKT Network enables the network to achieve a virtuous cycle.

POKT Network plans to improve the existing mechanism and introduce it to the chain in the Shannon upgrade (named after Claude Shannon, the father of information theory) launched in June 2024 to more conveniently manage the issuance of tokens and destruction (supply and demand).

“POKT’s virtuous cycle is very powerful because it provides value to every POKT stakeholder and makes the ecosystem stronger over time.” said Dermot O’Riordan, Director of the POKT Network Foundation.

Pocket Network (POKT) will be launched in the Bitget Innovation Zone and Web3 Zone today. The opening trading time is: 19:00 on January 18 (UTC 8). Participate in the POKT trading competition and you will have the opportunity to win 168,000 POKT rewards.

About Pocket Network

POKT Network (POKT) (also known as Pocket Network) is a leading DePIN (decentralized physical infrastructure network) that enables applications with the lowest cost, highest uptime and high scalability The program provides data connections. Today, these data connections involve multi-chain access to distributed remote procedure call (RPC) infrastructure, but may expand to serve other types of data connections in the future, including those supporting mainstream social media and open source AI LLMs (Large Language Models) Open source database.

POKT DAO is a value-driven, collaborative, open source community that builds and governs the project. Our critical digital infrastructure is built and managed by users.

POKT Network Foundation is an entity authorized by POKT DAO and is responsible for executing the strategic vision of POKT Network.

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