ARKNET Token

The sole utility token for the Ark Net privacy network

Overview

A new Privacy Token, ARKNET, is being added to the Ark ecosystem and will act as the sole utility token for a Layer-2 privacy network, Ark Net.

A suite of Ark Fi privacy products are planned to operate on Ark Net and will include a decentralized Virtual Private Network (dVPN), decentralized personal cloud storage and a passkey/password manager. Other products and services will be added as the network evolves. Developer tools, including white-label services, will be available to incentivize development of applications on top of Ark Net by the community.

Use Cases

1. The token will be required to pay for privacy application (SaaS product) usage fees on Ark Net.

2. The token can be held or staked to qualify as a node provider.

3. The token will be paid to node providers for bandwidth and storage resources consumed.

4. The token will be used for network governance.

Blockchain

Depending on timing and duration of the token presale, ARKNET will be launched on the Binance Smart Chain and then migrate to Polygon zkEVM when the mainnet is out of beta.

Vesting Schedule

Tokens purchased during the pre-seed and presale rounds will have a unique vesting mechanism that rewards investors for holding ARKNET tokens for a longer period of time. The vesting schedule will help maintain the integrity of the project and limit price volatility.

Inflationary & Deflationary Mechanisms

The support network growth, the team is designing inflationary mechanisms to reward node providers who are growing and maintaining the network. A reciprocal burn mechanism is being designed whereby a portion of the ARKNET used to purchase products and services is burned to deflate the supply.