Arpa Network Goes Live on Ethereum Mainnet

Arpa Network will also initiate the minting of the remaining 500 million arpa (ARPA) tokens that have been reserved for staking rewards out of its max supply.

AccessTimeIconJun 21, 2023 at 10:18 a.m. UTC
Updated Apr 14, 2024 at 10:27 p.m. UTC

Decentralized computation protocol Arpa Network launched on the Ethereum mainnet Wednesday following two months of testnet operations, developers confirmed to CoinDesk.

Arpa developers say the network allows users to conduct blockchain activities and transactions in a way that preserves privacy, such that on-chain behavior cannot easily be traced back to an entity or group of users.

The launch allows Ethereum developers to use Arpa to build and deploy decentralized applications (dapps) such as lotteries, gaming, decentralized voting systems and identity management systems, among other uses.

On June 22, Arpa Network will initiate the minting of the remaining 500 million arpa (ARPA) tokens that have been reserved for staking rewards. These tokens will also serve as a reserve to fund the growth of the Arpa ecosystem.

The tokens will be released incrementally, ensuring a gradual vesting process for stakers, validating nodes and other ecosystem participants.

The network is now finalizing a six-month community pool staking program, with plans to allocate 1.5 million tokens as monthly rewards. Community members can stake tokens to earn rewards and monitor the network’s performance.

Each arpa exchanged hands for 5 cents as of Wednesday morning. They have a market capitalization of $50 million, data shows.

Meanwhile, Arpa Network developers added they are pursuing integration with other EVM-compatible chains such BNB Chain and exploring the potential of layer 2 chains.

Edited by Sheldon Reback.

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Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.