Gelato Network, an automated smart contract execution protocol, has opened the whitelist for its forthcoming token offering.
- The sale of the GEL token will start Sept. 13, according to an email from Gelato Thursday.
- The total supply of GEL tokens, which will be used for staking by node operators, is 420,690,000.
- Parties interested in joining the whitelist are encouraged to enquire at Gelato's website.
- The protocol, which aims to harness a decentralized network of bots to automate and simplify smart contract executions, has been backed by several decentralized finance (DeFi) firms including Aragon and InstaDapp.
- Gelato's goal of turning manual operations into repeatable transactions executed without monitoring could be applied to processes such as payments of salaries and regular supplier bills. Once set up, they could be repeatedly consistently.