CUDOS to Power Blockchain Technology via Layer 2 Oracle Solution

Cudo, the company behind the upcoming CUDOS Network, has just commenced its exclusive public token listing event. The CUDOS token is now purchasable via BitMax, starting on the 12th of January 2021, at 9AM EST. As is the case with any new utility token boasting inherent value, the price will be experiencing volatility as it gauges the overall market sentiment. 

CUDOS to Power Blockchain Technology via Layer 2 Oracle Solution

Cudo represents a distributed cloud computing solution that was founded in 2017 by a team of tech entrepreneurs, data scientists, engineers, and top-level advisors. The project aims to distribute cloud computing services by harnessing unused processing power deriving from data centres, crypto mining farms, and individual-owned computers, gaming consoles, and smartphones. 

Through this strategy, Cudo is able to provide customers with considerable compute power at a fraction of the cost that’s usually charged by centralised providers like Amazon Web Services, Google, or Microsoft. The key element is that Cudo incentivises hardware owners to rent out their power in exchange for lucrative rewards. So far, the network consists of 20,000 nodes deployed worldwide, over 140,000 users, and a combined output of 500,000 TFLOPS of computing power. Cudo customers can therefore obtain low-latency compute power, while keeping their data private thanks to AMD’s encryption framework. 

Cudo is now building the CUDOS Network, a layer-2 oracle network that connects blockchain ledgers to the distributed cloud compute network, thereby enhancing their performance. In doing so, innovation is viably fostered as blockchain-based projects can expand their potential use cases. The oracle link is governed by smart contracts, which creates a trustless framework for blockchain – cloud computing cooperation. 

Apart from powering blockchain and the DeFi economy, Cudo is also suitable for data analytics, scientific simulations, artificial intelligence learning, and video rendering. 

Highlighting the Ongoing CUDOS Exclusive Token Listing Event

The CUDOS Network has recently completed a successful private sale, raising capital from strategic investors. The public token listing has now commenced on BitMax, allowing cloud computing enthusiasts and investors to purchase their own shares of the valuable utility token. Account holders can easily purchase tokens via the CUDOS/USDT pair until the 19th of January at 9AM EST, as highlighted in the BitMax announcement. During this timeframe, BitMax and Cudo will be rewarding lucky traders that fulfil the eligibility criteria with token airdrops. 

Due to the dynamic price range, the CUDOS token is also viable for trading purposes as volatility is bound to provide traders with significant theoretical profits. 

It’s important to point out that CUDOS holders will be eligible to join the network as validators. To do so, a 2 million CUDOS stake is necessary. Once the tokens are staked, Cudos Network Validators will earn lucrative rewards in exchange for powering the network. CUDOS has stated that staking rewards will vary between 5% and 30% per annum, a dynamic range that will be modified depending on the number of staked tokens. As such, a lower annual percentage yield (APR) will be obtained in the presence of numerous validators, whereas a higher APR is assured if there are fewer validators. Since the CUDOS Network is still in its infancy, early adopters can expect higher yearly APRs. 

Delegated staking has also been introduced to help users that hold less than 2 million tokens. By delegating their stake to an established validator, users who fit the criteria will also reap valuable rewards. Of course, staking is also necessary to receive compute jobs and to obtain fee discounts within the platform. Thanks to the future-thinking tokenomics policy, token holders are eligible for additional sources of revenue apart from the rewards obtained by running a CUDOS validator node. 

Token holders are actively improving the decentralization of the network. There are additional benefits to token ownership, including the ability to participate in the network’s community governance model by voting on proposals. Token owners can also develop their own smart contract-based dApps on the CUDOS Web3 network, while leveraging the power of multi-chain support. After all, the CUDOS layer-2 oracle integration will work with the Ethereum, Polkadot, and Algorand blockchains.

Overviewing the CUDOS Plans for Token Distribution

The CUDOS token entails a hard cap of 10 billion tokens. A small, but significant percentage has been distributed towards the private and public token events. With this in mind, the current public token listing entails 166,666,667 tokens, purchasable at market price. A total of 7.22% of the tokens are to be sold, whereas the rest will be reserved for the team, advisors,  community engagement, and reserve. 

The funds raised as part of the two token events will be used to finance the creation of the fully-fledged layer-2 CUDOS oracle network, linking blockchain ledgers to Cudo’s cloud compute solutions. In its whitepaper, CUDOS has outlined its token usage plans. A significant portion of the capital will be utilised for marketing, product development, user acquisition, community engagement, operations, and node validator rewards. 

Bottom Line

Believers in the significant value potential behind distributed cloud computing and layer-2 blockchain oracle integration can now get involved by purchasing and trading the CUDOS token. Token holders are directly contributing to cheaper and more performant blockchain-based projects, while earning long-term rewards in exchange for their commitment. 

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