Blockchain interoperability platform Blocknet lists token on Avalanche-powered Pangolin DEX » CryptoNinjas
Blocknet, a layer-2 blockchain interoperability protocol that enables communication, interaction & exchange between different blockchains, today announced that its native Blocknet token is now listed on the Pangolin DEX in advance of the release of Blocknet’s decentralized Avalanche indexer.
The listing puts $aaBLOCK, a means of payment for indexed chain data on Avalanche’s C-chain; and serves to introduce the Avalanche community to the Blocknet.
Avalanche + Blocknet
With the initial release of Blocknet’s decentralized indexer of Avalanche’s blockchain coming this month and planned migration to its own subnet in due course, mutual interest between the two projects’ communities has emerged.
However, BLOCK and AVAX have not been accessible on the same venues; preventing easy exploration of their respective ecosystems.
But now, $aaBLOCK is accessible on Avalanche’s most liquid DEX, Pangolin; giving Avalanche users a natural place to acquire BLOCK and explore its interchain technologies like Block DX and XRouter.
To foster a healthy market, liquidity originating from Blocknet’s superblock self-funding system will be added to the Pangolin liquidity pool.
In addition, Blocknet expects that holders of BLOCK and AVAX will be added to the pool to reach a planned minimum of $100K liquidity in the pool; ensuring good market availability and tight spreads.
Furthermore, a proposal will be submitted to Pangolin’s decentralized governance system to reward $aaBLOCK liquidity farmers with $PNG, Pangolin’s governance token.
What is $aaBLOCK?
- $aaBLOCK = wrapped Blocknet tokens ($BLOCK) bridged to Avalanche by Anyswap and available as a native token on the Avalanche C-chain.
- $aaBLOCK is destined for use with the Blocknet’s incipient decentralized indexer; which will make Avalanche’s chain data available over Graph QL API, enabling developers to orchestrate Avalanche contracts and protocols with those on Ethereum and other blockchains.
“Decentralized APIs for multi-chain data are a building block of the “interchain” an emerging ecosystem of blockchain protocols & contracts. Interchain data availability empowers devs to orchestrate services on different chains as easily and cheaply as traditional apps are built by orchestrating APIs. DApps gain the combined potential of every service, contract, and protocol on every blockchain.”
– The Blocknet Team