Explore how mETH Protocol’s COOK token enhances governance, empowering users to shape Mantle’s leading Ethereum Layer 2 liquid staking platform.

Mantle Network (MNT) is one of the most innovative 

 (ETH) blockchain. In late 2023, the Mantle project debuted its mETH 

 protocol, which quickly became one of the most popular platforms for ETH staking and restaking. For nearly a year since its launch, the mETH protocol operated without a 

 of its own. The protocol's governance was largely influenced by the Mantle project and holders of its MNT token. However, the plans for mETH to have its own dedicated governance token were discussed as early as around the protocol's launch date.

Fast-forward to late October 2024, and the mETH protocol welcomed its governance asset — the COOK token. As of early November 2024, COOK is already available for eligible users to claim via several channels, including Bybit.

Launched in December 2023, mETH — previously known as Mantle LSP — is the largest 

 (DeFi) protocol on the Mantle L2 chain dedicated to Ethereum liquid staking and restaking. Users who lock their Ether (ETH) funds on the platform are issued Mantle Staked Ether (mETH) tokens, the primary liquid staking token (LST) of the protocol. mETH works as your deposit receipt, and accumulates the rewards accrued from ETH staking. The value of each mETH token is made up of the original principal amount plus the rewards earned.

 services. Users can use the cmETH liquid restaking token (LRT), which is exchangeable with mETH at a ratio of 1:1, to earn additional yields across a number of DeFi protocols within the wider Ethereum ecosystem, all while simultaneously earning their base liquid staking rewards through mETH.

Another cryptocurrency on mETH is the recently launched COOK — mETH Protocol's governance token.

 (EVM)–compatible scaling solution. Like many other popular L2 networks, the key aim of the Mantle project is to provide a more scalable and affordable alternative to direct transacting on Ethereum’s 

. Mantle was launched in July 2023. The mETH protocol, which was introduced five months later, is the key project among Mantle's ecosystem initiatives. It's now by far the most dominant DeFi protocol on Mantle, and is one of the leading restaking protocols in the industry, with a 

 (TVL) of nearly $1.25 billion (as of Nov 6, 2024).

Mantle offers developers a flexible environment in which to launch solutions featuring high security, great scalability and low costs. It achieves these benefits thanks to a modular approach, with each layer — execution, consensus and data availability — controlled by different components and network actors.

Right around the launch time of the mETH protocol, the Mantle community discussed the potential of introducing a future governance token. On Oct 29, 2024, the COOK token was launched as mETH's governance cryptocurrency. Holders of COOK are eligible to vote on the strategic direction and changes to the protocol.

 crypto with a maximum and total supply of 5 billion. It's been deployed as an 

 asset on Ethereum’s Layer 1. Users who would like to move COOK to other blockchain platforms, including Mantle, can do so using a bridging solution provided by the LayerZero cross-chain interoperability protocol.

Of COOK's total supply of five billion, 15% is reserved for allocation via four ecosystem initiatives as follows:

COOK is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token, running from Oct 29, 2024, 8AM UTC to Nov 12, 2024, 8:59AM UTC

The introduction of Mantle’s COOK token as mETH Protocol's governance asset is likely to boost community participation in the protocol. mETH is already a leading liquid staking solution within the wider Ethereum ecosystem, and the new COOK token may further boost the protocol's standing. For liquid staking enthusiasts, COOK represents a great way to acquire a say in mETH's development and overall direction.

Intermediate

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mETH Protocol (COOK): Transforming Governance in Liquid Staking on Mantle Network

Consumer crypto is an industry that involves incorporating blockchain technology into consumer goods. Learn more about it in this article.

 was first introduced, it was primarily a financial and technical concept. People initially believed that blockchains would be used for things like online payments and financial investments. While crypto certainly has financial and technological applications, there has also been a huge amount of growth in other sectors. Research shows that one of the leading uses for crypto is actually consumer goods. If you're interested in keeping up-to-date with crypto trends, explore this guide to learn about the rise of consumer crypto.

Consumer crypto is an industry that involves incorporating blockchain technology into consumer goods. Examples of consumer crypto can range from NFT-branded collections for sneakers to coffee rewards programs that use blockchain tokens.

Consumer crypto started back in 2014, when the crypto market first exploded, and began to really take off when the 

 (NFTs) in 2017. While most people were focused on trading on crypto exchanges, businesses began taking note of NFTs’ potential. Early examples of consumer crypto include Overstock's Bitcoin integration in 2014, and the first-ever fashion NFT in 2019.

 technology became the next big thing of 2021, there’s been an explosion in consumer crypto. While it was previously a notable incident whenever a company released their crypto or blockchain features, now it's more unusual to have a big brand that doesn't have some sort of crypto tie-in. Countless leading brands — including Coca-Cola, adidas and McDonald's — have some sort of consumer crypto feature. 

There are many factors contributing to this increase in consumer crypto:

What do all of these changes mean for the typical consumer? The rise of consumer crypto has allowed blockchain technology to be integrated into almost every aspect of daily life. People who were completely unaware of the cryptocurrency market 10 years ago now think nothing of playing a web3 game or using an app that stores their information as on-chain data. In addition to creating more profit-making opportunities for businesses, the seamless integration of consumer crypto has helped to increase crypto adoption. 

To get a better understanding of how consumer crypto has worked its way into everyday life, it's useful to take a look at some examples. The following examples demonstrate some ways that major brands have added blockchain technology to their products and services.

The Starbucks rewards program is a popular app that rewards people with points for purchasing beverages at Starbucks. Recently, the brand decided to 

 for its members. People can turn in their rewards points for NFTs or digital assets, and the convenient app lets them hold digital assets without needing a crypto wallet.

Of course, NFTs are one of the easiest ways to produce a consumer crypto. Countless food, fashion, technology and fitness companies have released their own lines of NFTs. Coca-Cola is a great example of how an NFT can become a great ad campaign: the company released a line of 

 on International Friendship Day 2021 that celebrated togetherness and friendship. The auction winner also received a Smeg refrigerator full of Cokes.

Another great example of a branded NFT launch is the Budweiser NFT collection. The novel thing about this collection was that Budweiser went out of its way to make purchasing and holding an NFT easy. Instead of needing a crypto wallet, users could go to a URL on the Budweiser site and buy an NFT with either cryptocurrency or a credit card. Currently, this collection has a 

Luxury fashion brand LK Bennett™ has launched a fun new program that offers cashback in the form of crypto. Customers who use the company's QR payment system receive 

 on every purchase. This program is part of a collaboration with Mode, an open-banking payments platform.

Sportswear/footwear giant adidas has chosen to combine cryptocurrency with physical products so its brand can appeal to both crypto fans and streetwear collectors. The company has offered an 

 package that released an exclusive hoodie alongside a blockchain address. This allowed consumers to obtain both a rare adidas item and a rare digital collectible.

Is consumer crypto likely to stick around? Industry experts predict huge growth in blockchain-based marketing and services. The blockchain business market is currently worth $6.63 billion, and is 

 by 2030. As cryptocurrency adoption increases, there will be more ways for the cryptocurrency industry to incorporate itself into other parts of daily life. The consumer crypto field is especially likely to see growth in these fields.

One of the main trends to watch for is an increase in companies that accept Bitcoin and other digital assets. As cryptocurrency becomes a valid form of investment, there’s less concern about it retaining its worth. More and more businesses are starting to allow crypto as a payment option, and there's a real demand for more crypto integration in online payments. 

While consumer crypto does include fields like marketing and customer retention, the area with the biggest growth is the entertainment industry. Web3 gaming alone is predicted to 

 worth of revenue by 2030. Now that consumers have begun to realize how entertaining blockchain gaming and social media are, there's a lot of interest in designing new crypto entertainment products.

Increasing numbers of businesses are discovering that the only thing stopping users from exploring crypto is technological insecurity. Many people see crypto wallets and other blockchain technology as confusing, which has kept them away from it. Businesses are beginning to solve this issue by focusing more on accessibility and ease of use. Modern consumer crypto is likely to lean away from high-tech mechanisms such as private crypto keys for crypto owners. Instead, more crypto companies are leaning toward account-driven technology, which users are familiar with from Web 2.0 design.

Consumer crypto provides an exciting new way to explore applications of crypto ownership. By turning crypto tokens into game items, consumer reward points and other features, brands can easily incorporate blockchain technology into their business. Ultimately, the rise of consumer crypto is a highly promising sign for the blockchain industry — and in addition to increasing crypto adoption, the added utility for coins may help to stem some issues with price volatility.

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A Look at Consumer Crypto Over the Years

Bybit ByVotes is a feature on Spot X that allows users that hold eligible stablecoins to vote for their favorite projects and earn rewards.

 is an all-in-one platform that presents all of Bybit’s latest Spot listings and events on a single page. 

 that lets you vote for your crypto project to be listed on Bybit. This article delves into how ByVotes works, covering everything from its basic operations to its expanded offerings.

, a platform that merges all of Bybit’s latest spot-listing events in one location. The role of Spot X is to make Spot trading easy and accessible. Aside from ByVotes, the other events are Token Splash, ByStarter, Launchpad and Launchpool. Each event promotes specific in-demand or upcoming crypto projects, allowing you to participate in prize pools and market analysis to learn about those projects. 

Spot X presents a transparent overview of all these activities. It shows the total number of participants, investments and prize pools. Furthermore, it displays the average token value increase post-launch.

The ByVotes platform is a crucial component of Bybit’s Spot X. It operates as a voting system, as users vote on existing crypto projects to be listed in 

The voting process comprises of five phases:

This structure ensures that participants clearly understand both the voting mechanics and the benefits involved.

Bybit ByVotes offers significant advantages for projects and users. Projects gain an opportunity to be listed in the Adventure Zone, gaining community support through user votes. For users, ByVotes is a risk-free way to earn rewards and support desired projects.

ByVotes has successfully conducted 21 voting rounds, each of which has. Each round showcased Bybit's commitment to community-driven decisions for project listings. Among the successful projects that have emerged from ByVotes are 

What Does the Revamped Bybit ByVotes Offer?

The revamped ByVotes introduces several enhancements, aiming to foster greater user engagement and provide more opportunities for projects. Let's highlight the key differences between the original and the new revamped version:

New and existing Bybit users can take part in ByVotes.

The inclusive nature of the platform is spread to the ByVotes rewards system. Rewards are equal across all user categories, 

regardless of whether a user is new, existing or VIP

, and are based solely on the number of votes cast in order to promote fairness.

Which Stablecoin Assets Does ByVotes Support?

For the voting process, Bybit ByVotes supports several designated stablecoin assets. These include USDT, USDC, USDe, USDD, DAI and CUSD. A $1 equivalent of these tokens equates to one vote, allowing effective voting. 

The eligibility requirement for voting is that you 

 in any combination of the supported stablecoins. This requirement ensures that you’re vested in the polls and actively engage within the community.

How Are ByVotes’ Voting Tickets Calculated?

For users who hold a minimum of $100 in either USDT, USDC, USDe, USDD, DAI or CUSD, the voting tickets will be equal to your 24-hour average position value, where one vote will be accrued for every $1.

For users with a 24-hour average position value exceeding $500,000, the number of voting tickets will be capped at $500,000.

The number of voting tickets will be reset at the start of each month.

 offers users early access to high-potential projects and trading opportunities. Crypto tokens currently listed in the Adventure Zone include POPCAT, SUNDOG, NEIRO and more.

On Bybit’s spot trading platform, you can access the Adventure Zone via 

 from the menu. The Adventure Zone offers opportunities that involve high risks, including early-stage projects that let traders engage before they become widely available. Projects listed in Bybit’s Adventure Zone are subject to change, based on the market. It's best to regularly check the Adventure Zone for the latest listings and updates. 

: You may experience market swings, liquidity issues and/or delisting in Bybit’s Adventure Zone.

Follow these steps to join Bybit ByVotes and participate in voting on new projects:

— If a project fails to meet its goal, you retain your assets and receive no rewards.

— Earn extra votes by referring new users. The vote amount per referral varies per project.

Bybit's ByVotes gives people an excellent way to back new crypto projects that have potential by voting for them and earning rewards if the projects get listed successfully. Through Spot X, users gain early access to tokens, earn rewards and influence new listings. 

With risk-free participation, ByVotes empowers you to impact Bybit’s growing ecosystem. 

 today and vote for your favorite tokens!

Beginner

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Bybit ByVotes: Vote for Your Favorite Projects and Win Rewards

Kroma (KRO) introduces a sustainable Layer 2 rollup optimized for web3 gaming, delivering low-cost, fast transactions on Ethereum.

Gaming is one of the fastest growing niches in the crypto industry, but further growth of 

-based games and gaming platforms is hampered by network congestion, poor scalability and high transaction fees on 

 — a blockchain that is frequently the default choice for 

 (DApp) developers. To provide a smooth gaming experience, the underlying platform needs to feature near-instant transactions, low 

 and affordability. Unfortunately, Ethereum often struggles in all of these areas.

 (L2) rollup solution dedicated to web3 gaming that aims to address the speed and cost inefficiencies of the Ethereum 

 (L1) blockchain. Using a combination of optimistic and 

 features, Kroma features two-second block times and gas fees of tiny fractions of a cent. Having launched its mainnet in September 2023, Kroma has already built up a young but thriving ecosystem of DApps, not only in the niche of gaming but also in 

 (EVM)–equivalent Layer 2 rollup platform linked to the Ethereum blockchain that uses a combination of optimistic rollup and ZK proof technologies. 

Built using the OP Stack rollup development framework, Kroma is part of the 

 (OP) Superchain network, an ecosystem of rollup chains based on OP Stack. Kroma aims to provide a highly scalable and low-cost environment for web3 game developers and users.

The platform's mainnet was launched in September 2023, and already boasts over 70 active DApps (as of early November 2024). 

 apps make up about one-third of these, with the remaining ones primarily focused on NFTs, DeFi and infrastructure.

Kroma offers gamers and developers a wide range of user-friendly tools and apps. One of these is 

, a solution that lets you seamlessly deposit crypto assets from the Ethereum Mainnet to Kroma and withdraw from Kroma back to Ethereum. Another one is Blockscout, a versatile blockchain explorer that provides detailed statistics for hundreds of decentralized networks, including Kroma's own mainnet and testnet, Ethereum, Optimism (OP), Base (BASE), Immutable X (IMX), Gnosis (GNO) and more.

There are also over 20 active gaming apps from a variety of genres represented on Kroma. One of the more popular apps is 

, a game that allows you to earn points by exploring galaxies and doing exercises such as squats, combining fun with fitness. Another one is 

, an omnichain artificial intelligence (AI) strategy game integrated with DeFi features.

Kroma was launched by Lightscale, a blockchain development outfit founded by Taekyu Park and Derek Junyoung Chang. Lightscale is a subsidiary of Wemade, a South Korean game development giant and one of the leading Asian gaming companies.

There are four primary network actors on Kroma — validator nodes, full nodes without block validation responsibility, sequencers and end users. End users interact with the Kroma L2 network directly, though they also have the option to utilize Ethereum to move assets between the L1 blockchain and Kroma.

The sequencer is a critical node that batches and organizes the L2 off-chain transactions into blocks and submits the processed blocks to the L1. Validator nodes are responsible for verifying the integrity of transactions and blocks. Kroma validators can also submit zero-knowledge 

to challenge a block's validity on L1. In addition to validators, there are also full nodes without block processing responsibility who read transaction data and outputs, and act as part of the overall 

Using this setup, Kroma can deliver exceptional performance in terms of speed and costs. Transaction blocks on the platform are finalized within two seconds, while the average 

 on the network is small fractions of a cent, a stark contrast with Ethereum's average fee of around $3 (as recorded on Nov 2, 2024).

Transitioning From Optimistic Rollup to ZK-Rollup

Although the Kroma network was built using the OP Stack, a popular framework for 

, it has modified the default OP Stack setup to incorporate ZK proofs to provide a more robust and fault-proof system. Normally, transaction blocks processed on Kroma use optimistic validation, i.e., they’re considered valid unless a validator raises a challenge for a specific block, questioning its validity. Additionally, Kroma uses ZK proofs if a block's validity is challenged. The proofs serve as a backup mechanism to help process transaction blocks as efficiently as possible in case of potential validity challenges.

While the platform currently represents a mixture of optimistic and ZK validation, Kroma aims to eventually move to a universal ZK-rollup based on ZK proofs as its only validation mechanism. Despite the move to a ZK-based proof system, the platform will remain compatible with the Optimism Superchain. Thanks to the modular nature of the OP Stack technology, ZK proof–based rollups can also be part of the Superchain.

 solution. Using it, you can deposit Ether (ETH) and various liquid staking tokens (LSTs), such as stETH and eETH, into a vault in order to receive Spectrum's spETH liquid restaking token. The vaults are hosted on the 

 DeFi platform. spETH is locked in these vaults in the form of weETH tokens, earning you additional yields. While weETH earns you yields through the vault, the spETH that backs it can simultaneously be used to accrue reward points from three DeFi platforms — Kroma, ether.fi and 

Despite the somewhat convoluted design — which is definitely not unusual in the world of DeFi — Spectrum's liquid staking and restaking services can be a great way to earn additional yields and loyalty points on several DeFi platforms using the same underlying investment.

 (KCU) is designed to attract users from across the Kroma ecosystem to participate in a common gamified environment. In KCU’s gamified environment, hosted on the Kroma network, you can mint your own Kromans, dwellers of the Universe; complete a variety of quests to earn Ore, a resource used to reveal Mystic Boxes; and use Mystic Boxes to reveal additional gear and items to equip your Kroman NFTs. While participating in the KCU and completing quests, you can also socialize with other players through their Kromans. Participation in the KCU also gives you opportunities to qualify for KRO airdrops.

 is a solution designed to help any user contribute to the block validation process on Kroma Layer 2 and earn a share of block rewards. This staking format is possible thanks to Kroma's 

 (DPoS) block validation procedure. KGH was launched in late October 2024.

Holders of Kroma's native cryptocurrency, KRO, can 

 their funds on their preferred validator to help secure the network's operations, earning a share of block rewards commensurate with the amount they stake. Each validator node charges a small commission on the total amount earned by a delegator. The rate of commission varies between validators, typically ranging between 3% and 10%.

Validators themselves stake KRO on Ethereum to gain the right to process transaction blocks. Kroma claims that there have been more than 350 nodes registering on the network as validators since the platform's launch. However, as of Nov 3, 2024, there are only 13 validators to whom you can delegate your assets through the 

 interface. These are mostly members of the Kroma Security Council, which we'll cover in the next section.

Another group of users who can take advantage of staking opportunities on Kroma is that of holders of KGH NFTs, an NFT collection issued by the project that sold out by January 2024. However, these NFTs can still be bought in the secondary market via 

’s NFT marketplace. Using these NFTs to back up a validator earns you boosted staking rewards on top of the standard rate.

 is a group of key network actors whose main responsibility is to jointly act as the final layer of security for the platform's proof system. If there are inconsistencies or problems with Fault Proofs raised on the network, council members are expected to resolve these.

Members of the council are also involved in decision-making processes related to Kroma's 

 on L2 and L1. Kroma currently lists nine organizations as members of its Security Council. Among these are the nonprofit Kroma Foundation, as well as Animoca Brands, one of the giants of web3 gaming.

Kroma's native cryptocurrency, KRO, is an 

 asset with a total supply of just over 875 million and a maximum supply set at 1 billion. KRO is envisioned to power three key functions on the network — gas fee payments, staking and on-chain governance. The token was launched on Oct 30, 2024, over a year after Kroma's mainnet introduction. Its supply allocation shares are shown in the chart below.

 is designed to reward various groups of early adopters and active participants on the network. Besides this airdrop, you can also take advantage of the 

 between Oct 29, 2024, 10AM UTC and Nov 12, 2024, 9AM UTC via Bybit's 

 program. Under the terms of the airdrop campaign, you can receive a share of the 6.6 million KRO prize pool by following Bybit’s and Kroma’s accounts on X, reposting the campaign announcement with comments, depositing at least 1,000 KRO to your Bybit account and trading at least 100 USDT worth of KRO on Bybit's Spot market. You can also earn KRO rewards by inviting friends and new users to join Bybit.

Web3 gaming depends upon the ability of blockchain platforms to provide the necessary levels of speed, scalability and cost-efficiency. With its highly efficient rollup setup, Kroma hopes to become a key enabler of blockchain-based gaming. Fast transactions, two-second block times, minuscule gas fees and the security of ZK proofs make Kroma a potentially serious player within the web3 gaming niche.

Having operated without a native token for over a year, Kroma finally launched KRO in late October 2024. This new token might significantly boost the platform's appeal and recognition among crypto gamers, developers and investors. However, these projections are currently assumptions, and only time will tell if this new platform progresses into an influential web3 gaming sector player.

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Kroma (KRO): The Layer 2 Supercharging Gamified Web3

Blockchain

Altcoins

The Energy Web Token is the native crypto of the Energy Web Chain, a green blockchain that is part of the Energy Web stack of eco-friendly technologies.

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The massive amount of energy necessary to create the biggest cryptocurrency in the world, 

 (BTC), is one of the biggest limitations of standard blockchain technology. Bitcoin consumes more energy per year than economies as large as the UAE and Argentina. The energy requirements serve as a key impediment to the further adoption of blockchain in the wider market. 

The brightest minds in the industry are currently working hard to make blockchain a greener proposition. One of the green blockchain initiatives is Energy Web Token (EWT), a cryptocurrency designed to decarbonize the energy sector of the economy.

How Energy Web Stack Makes the World Greener

 (EW Chain) blockchain network, which itself is part of the Energy Web stack of green technologies. 

The Energy Web was launched in 2017 to bring eco-friendly blockchain solutions to a variety of energy sector participants — upstream energy companies, grid operators, households and business consumers. The platform is developed and supported by the non-profit Energy Web Foundation (EWF).

The Energy Web platform rewards energy-efficient behavior by market participants. Below, we list two innovative projects currently running on the platform.

This project aims to reduce carbon emissions from Bitcoin mining. Within the scope of this project, the Energy Web is developing a framework that will be used to reward individuals and companies who use renewable energy to mine Bitcoin. Eventually, the project will be expanded to other cryptocurrencies to make blockchain greener across the entire industry.

Project EDGE enables people who use green energy sources (for example, solar panels) in their dwellings to sell services to utility networks. This allows individuals who go green at their places of residence to monetize any excess energy generated by their local renewable energy devices. Meanwhile, the transparency and traceability of the Energy Web stack enables utility providers to track and communicate with the individuals providing the energy. At the moment, the project is limited to Australia.

Regardless of a specific project, the general idea behind the Energy Web’s functionality is the same — using blockchain and tokenization to incentivize environmentally-friendly practices by individuals and companies. Within the business world, grid operators, utility providers and other key entities in the energy industry are the main users of the platform. Other industries that have adopted Energy Web services include automotive, identity management and 

The Energy Web platform is based on a three-layer architecture called the Energy Web Decentralized Operating System (EW-DOS), with the Energy Web Chain at its root. 

The three layers are applications, infrastructure and the trust layer. The top layer of the EW-DOS stack is made up of the actual applications, built on the platform, that power projects like Green Proofs and Project EDGE.

The second layer, infrastructure, hosts core blockchain services, such as 

, bridging and decentralized identity (DID) repositories.

The bottom, or fundamental, layer is the trust layer. This is where the actual EW Chain resides. The trust layer includes the blockchain, with all of its key components — the block validation processes, validator nodes and the EWT coin.

The Energy Web Chain derives its basic technology from Ethereum’s blockchain, although Energy Web has adjusted the code to create its own unique chain. The main difference is that it uses a block validation method called 

 (PoA), which consumes considerably less energy than the power-hungry 

 (PoW) validation used by chains like Bitcoin, Dogecoin or Monero. In PoA networks, only authorized entities have the right to validate transaction blocks.

As of October 2022, there are close to 40 validator nodes on the EW Chain, creating blocks of transactions and keeping the network functioning.

While the EW Chain is currently at the core of the platform’s operations, the EWF has partnered with Parity Technologies, a web3 technologies developer, to launch a new chain — the 

 — which will function as a parachain of 

 (DOT). The Polkadot framework will allow energy sector enterprises to customize their own blockchains, thereby expanding the reach of the EWF’s carbon-reducing initiative.

The Energy Web Token functions as the native cryptocurrency of the Energy Web Chain. 

, since it’s a native crypto asset for a full-fledged blockchain network, the EW Chain. 

EWT is a supply-capped coin, with a maximum supply of 100 million. The coin’s total supply stands at 69 million, and its circulating supply is 43.3 million. 

EWT’s current market price is $3.78, giving it a market cap value of $161.4 million (as of October 9, 2022).

EWT has three key functions on the Energy Web Chain — transaction fee payments, reward payments to validator nodes, and staking.

All transactions conducted on the network involve the payment of gas fees, which are payable in EWT. There is no fixed gas fee set for the network. The sender of a transaction chooses their preferred amount to attach as a gas fee.

EWT is also used for the payment of block rewards to validators. Blocks on the EW Chain are produced relatively often, approximately every five seconds. With nearly 40 validators on the network, each validator gets the right to produce a block every two minutes. The current standard reward per block is 0.8547 EWT ($3.20).

This is a very modest amount, compared to Bitcoin’s 6.25 BTC ($121,276) reward. However, it should be noted that EW Chain’s validators are medium or large companies involved in the project for environmental causes and use cases, rather than to earn income from block processing activity.

The third function of the EWT coin is staking. While gas fees and block reward payments are established functionalities of EWT, the staking option is still largely at the trial stage. The EWF plans to implement EWT staking in phases. Currently, it’s available on the Energy Web Consortia Relay Chain, and for one of the DeFi apps functioning on the Energy Web Chain  — 

. Both offer an estimated 10% annual percentage yield (APY).

The EWT coin is native to the Energy Web Chain and doesn’t conform to the popular token standard used in the industry, Ethereum’s 

. The EWF has developed an ERC-20–compatible token, EWTB, on the Ethereum blockchain. EWT holders who need to access Ethereum’s rich ecosystem may want to transfer their assets from EWT to EWTB.

Until recently, the Energy Web platform provided a 

 to easily transfer your EWT funds to EWTB/Ethereum. However, the bridge is currently being decommissioned by the Energy Web, and the company recommends using other bridging solutions for the transfer. The bridging platform explicitly recommended by Energy Web is the 

The EWT coin has been on the market since March 2020, initially trading at $0.60. For the first several months after its launch, EWT’s price experienced significant growth, a testament to the market’s appreciation for the project’s innovative business concept.

In August 2020, EWT reached its first local peak at nearly $13. After a correction down to about $6, it set out on another multi-month uptrend, from December 2020 through April 2021, when EWT reached its all-time high price of $22.67.

The 2021 and 2022 market turbulence had a negative impact on EWT, just as it did on the vast majority of other cryptocurrencies. Between April 2021 and August 2022, the coin experienced some ups and downs, but in general, it was on an extended downtrend. After stabilizing at $2.50 in early August, EWT has so far seen a modest uptick to its current price of $3.78.

In our view, despite the turbulent past 1.5 years, the Energy Web Token is a crypto with modest to good growth potential. It’s unlikely to experience record-setting growth rates, but decent to good increases are on the radar. The key reasons for our positive outlook on EWT include the following:

EWT is among the very rare environmentally-focused blockchain projects. As environmental and climate change awareness grows in the wider industry, EWT stands to benefit from this focus.

EWT is backed by leading organizations in the energy and sustainability sectors. 

Expansion to the Polkadot environment via the Consortia Relay Chain is among EWF’s current working initiatives. This expansion will create more opportunities for the Energy Web to access new markets, users and partners, and is yet one more factor that should benefit the EWT coin.

The Energy Web Token is a coin with great potential to improve the environmental image of the entire blockchain industry. As concepts such as green proofs and tokenized trade of sustainable energy become more popular, the coin’s profile in the market will also rise.

For environmentally aware individuals and businesses, the EWT coin will likely act as a key investment target. If you believe in all things green, EWT might be a great choice for you.

Energy Web Token: Decarbonizing Crypto With Blockchain

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards