Dapper Labs’ Flow blockchain takes major step towards mainnet

All News All News Except Press Releases Crypto Imported

The hotly anticipated layer-1 chain looks to be getting its ducks in a row.

In a move that may signal that a mainnet launch is just around the corner, Flow — the blockchain from Cryptokitties and NBA Topshot developers Dapper Labs — has launched the Flow Port: a tool for token holders to manage, stake, and delegate their Flow cryptoassets. 

The announcement focused heavily on how users can stake their FLOW tokens through custody providers such as Kraken and Coinlist, as well as delegate their tokens to currently-existing node operators. Those who wish to operate their own node might face a lengthy reviewal process, however: the announcement notes that there is a long waiting list that will be “processed on a rolling basis.”

The announcement notably includes support from cryptowallet giant Ledger, who will be allowing FLOW token holders native access to Flow Port via their hardware wallets. Upstart wallet provider Blocto will also be offering access, as well as a cross-chain USDT stablecoin transfer mechanism.

In a statement to Cointelegraph, Dapper Labs CEO Roham Gharegozlou noted that the portal opens up a wide range of options for token holders who wish to participate in the network.

“Flow Port lets anyone create and manage non-custodial Flow accounts with any number of providers, starting with Ledger hardware wallets and Blocto software wallets,” he said. “Community stakeholders can use Port to manage their FLOW tokens directly, staking to run nodes or delegating to one of the 300 existing nodes that will be up and running by the time staking starts – including nodes run by major partners like Samsung, Ubisoft, and T-Systems.”

The launch of the layer-one chain has been hotly anticipated by many, and Dapper has been preparing for months on multiple fronts. 

Preparations include a massive fundraising haul from hedge funds and NBA players, a recent Dutch-auction style token that saw a 4x increase in price from the FLOW community sale, and an integration with Binance’s stablecoin, BUSD.

An old trading adage goes, “Buy the rumor, sell the news,” but perhaps in Flow might be the exception ready to come out of the gate with a strong launch.

Source: , CoinTelegraph

Facebook Comments