5ire, a pioneering layer 1 EVM-compatible blockchain project built to foster the 5th industrial revolution, has rolled out an incentivized testnet airdrop ahead of its mainnet launch.
5ire’s layer 1 blockchain is built on cutting-edge technology designed with a novel consensus mechanism, sustainable tokenomics, and a robust on-chain governance model.
These innovations position 5ireChain to deliver unparalleled scalability, decentralization and security for decentralized applications (dApps) and enterprise use cases.
Currently in its public testnet phase at press time, the team disclosed in a comprehensive roadmap that 5ire mainnet will launch on June 24. This 5ire Mainnet launch will coincide with the introduction of a secure and liquidity-protected flexible staking solution, the disclosure revealed.
5ire incentivized testnet airdrop campaign
Ahead of the highly-anticipated development, the 5ire team has announced a testnet airdrop campaign. Dubbed ‘Testnet Thunder’, the 5ire incentivized testnet airdrop comes with a reward pool of a staggering 5.2 million 5IRE coins which will be shared among participants, including validators, nominations and regular users.
To integrate community feedback as 5ire optimizes its blockchain platform, the team has invited developers, validators, nominators, and community members to get involved and share from the attractive reward pool of 5.25 million 5IRE coins on the mainnet.
Detailing how to participate in the Testnet Thunder, the team wrote: “Through Testnet Thunder: GA, we invite individuals, enterprises, and node operators to take part in our incentivized testnet program by becoming contributors to the 5ireChain network and operating as validators and nominators within the testnet.”
The team has also released a unique guide to taking part in the 5ire incentivized testnet airdrop as a validator. Validators will earn rewards for processing transactions and producing new blocks on the 5ireChain network upon staking. a minimum of 5 million 5IRE coins. Nominators, without running nodes themselves, can nominate trusted validators to be eligible for the airdrop.
Moreover, developers have access to the 5ire IDE for crafting and deploying smart contracts on the 5ireChain network. Meanwhile, users can participate in staking their 5ire tokens, thereby contributing to testing the protocol’s security while enjoying appealing Annual Percentage Yields (APYs).
Read Also: How to participate in OverProtocol Open Beta Testnet 2
5ire VC funding
With profound innovations and an engaged community, 5ire is set to pioneer the future of sustainable blockchain infrastructure. Recall that the project successfully secured over $100 million in Series A funding in April 2022 from the UK-based conglomerate SRAM & MRAM Group, valuing the company at $1.5 billion.
Courtesy of several private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, and Moonrock Capital, 5ire realized a whopping $21 million in its seed round.
These significant investments indicate confidence in 5ire’s potential within the blockchain industry. The capital injection has also aided 5ire to be well-positioned in expanding its operations, enhancing its team, and accelerating the development of its protocol.
As venture capital (VC) funding increases in the crypto and blockchain industry, real-world assets tokenization company Securitize netted $47 million in May in a strategic funding round led by BlackRock. BlackRock is a leading digital asset manager and Bitcoin exchange-traded fund (ETF) issuer.
Related: Berachain Secures $100 Million in Fresh Series Funding Round
In April, Shiba Inu raised $12 million from VCs through the sale of its yet-to-be-launched LEASH token. The Shiba Inu team plans to develop a layer-3 protocol focused on privacy.
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