Magic Newton Foundation has announced the launch of the $NEWT token aimed at addressing issues of fair distribution and increasing transparency within the crypto industry.
Goals and Principles of $NEWT
$NEWT token was introduced as part of the Newton Protocol, designed to facilitate secure automation of cryptocurrency operations. The foundation aims to eliminate issues of information asymmetry that have affected previous token launches.
Transparency and Token Distribution
The project will implement high transparency standards, including the ability to track token distributions and mandatory reporting on their usage. 60% of the 1 billion tokens will be directed to community development and initiatives. All distribution information will be publicly accessible in wallets.
Functions of $NEWT Token
$NEWT token secures the network through rewards for validators and serves as the primary gas token for performing operations. It also grants token holders a voice in governance of the Protocol's development.
The launch of $NEWT represents a significant step towards enhancing transparency and trust within the crypto industry, providing users with tools for secure interaction with automated services.
