Constellation Network, founded in 2017, aims to create transparent and efficient supply chains, bridging traditional business and Web3 capabilities. This article examines its key milestones, architecture, and new tokenomics model.
The Origins and Evolution of Constellation Network
Constellation Network began its development in 2017 with the goal of overcoming the limitations of traditional blockchain technology. A significant milestone was the launch of the Hypergraph Main Net on May 7, 2020.
The initial tokenomics structure specified that founders held 20% and the Foundation controlled 26.6%, totaling 46.6% of centrally held tokens. After community feedback, this model was revised in 2018 to reduce centralized holdings and double validator rewards, reflecting the network's commitment to decentralization.
In March 2021, the team announced Tokenomics v2.0, introducing a more scalable economic structure, and in August 2024, the Metanomics model was announced, planned for implementation in Q1 2025.
Core Technical Features of the Hypergraph Architecture
Unlike conventional blockchain networks that process transactions in sequential blocks, Constellation utilizes a Directed Acyclic Graph (DAG) structure called the Hypergraph. This architectural difference allows for higher transaction speeds and improved throughput.
The Hypergraph consists of two distinct layers:
* **Layer 0 (L0)**: Responsible for state snapshots and final validation * **Layer 1 (L1)**: Handles new data in a graph format
This two-layer approach enables the network to process transactions more efficiently than traditional blockchain structures. Another distinctive feature is the concept of metagraphs, which are application-specific networks built on the Hypergraph.
Tokenomics Evolution: From Fixed Supply to Dynamic Model
The $DAG token is the native cryptocurrency of the Constellation Network, serving as a binding link between various network components.
The original economic model distributed rewards over epochs lasting approximately 2.5 years, with a capped supply of 3.69 billion tokens. With the introduction of Metanomics, the decision was made to transition to a flexible supply model with dynamic inflation responding to market conditions and ensuring sustainable validator incentives.
Key features of the Metanomics model include:
* overall network inflation starts at 6% annually, gradually decreasing to a target rate of 0.5% * dynamic adjustment of emissions based on market conditions * mechanisms to minimize value depreciation while maintaining economic stability.
Constellation Network, with its unique Hypergraph architecture and new approaches to token economics, continues to develop flexible and sustainable solutions for integrating decentralized technologies into everyday business processes.
