Investing.com - Enterprise blockchain solutions provider Aventus, which snags a parachain slot on the interconnected Polkadot ecosystem, has rolled out a major network upgrade to increase transaction volumes and network usage.
Aventus 2.0 is also working to expand its ecosystem through partnerships with Layer 3 appchains and engage token holders with a liquidity mining program. Additionally, a token burn mechanism will be introduced to reduce the supply of Aventus tokens (AVT).
The AVT token was launched in 2017 and reached a peak value of $6.905 in early 2018. As of now, it has a market cap of $12.5 million and is trading around $2.09, according to CoinMarketCap.
Aventus 2.0 was developed in collaboration with MVP Workshop, the team behind Polygon Edge and Astar Network, as well as Scytale Digital and the Aventus Services team.
The Aventus team will roll out the update over the next four months, following a community governance proposal where AVT token holders voted in favor of implementing these changes.
The update introduces a new appchain model that lets businesses operate on the Aventus Network. It also brings a liquidity mining program on Uniswap to boost token holder engagement. Additionally, a gas fee burn mechanism will help reduce the overall AVT supply.
Aventus founder Alan Vey said: “Aventus 2.0 builds on important learnings from existing Aventus Network clients as well as the invaluable expertise of our partners at MVP Workshop & Scytale Digital, and represents a significant milestone in our journey to enhance the Aventus Network’s capabilities and deliver greater value to stakeholders.”
The appchain model has already seen early adoption, with existing users of the Aventus Network launching their own Layer 3 appchains.
Barry Helfrich, CIO at Enigmatic Smile, a rewards platform that uses the Aventus Network, said the team was instrumental in helping them build a reliable solution to process discounts for hundreds of millions of users.
“We needed the Voucher Ledger solution to be secure, fast and stable enough to process the discounts collected by hundreds of millions of users in our rewards ecosystem — no small feat, but Aventus has helped us build such a solution,” Barry added.