The tokens of the elastic blockchain network SKALE will be held in a Dutch auction on the Activate platform on August 17th

SKALE (SKL), an elastic blockchain network, announced that it will sell tokens through a Dutch auction on the Activate platform at 12:00 PM Eastern Standard Time on August 17, and the auction will be conducted for three days. The main network of the SKALE network has been launched on June 30. After purchasing SKL tokens, users of the Activate platform can participate in the construction of network security and scalability through pledges. In the process, users can receive corresponding rewards. The SKL token is a mixed-use token that participates in the network’s security mechanism and is also used as a payment method for the SKALE blockchain. The SKALE agreement requires participants to commission a 90-day, at least 50% auction token before they can be transferred outside the network. This approach provides a quantifiable incentive mechanism designed to minimize participant speculation and maximize Active contribution to the network. According to previously published data, SKALE will auction 217 million SKLs, with token prices ranging from US$0.0198 to US$0.0265, and plans to raise approximately US$4.3 million to US$5.75 million. Chainchain previously reported that Skale has already raised for the main online With a total of US$17.1 million in financing, in the most recent financing, it received support from more than 40 angel investors and venture capital institutions such as Arrington XRP Capital, Blockchange, ConsenSys Labs, Hashed, HashKey Capital, Multicoin Capital, Recruit Holdings and others.