5ire logo

5ire (5IRE)

Total Raise: $221,874,000
Date: TBA - TBA

5ire is a Layer 1 EVM-compatible blockchain network focused on creating sustainable growth conditions for DeFi and GameFi development on its chain by establishing a unique Sustainable Proof of Stake consensus mechanism (SPoS).

The 5IRE token is the native coin of the 5ire ecosystem, used for DAO voting and staking. It is powered by an innovative reputation-based reward mechanism aimed at incentivizing loyal supporters.

As of early 2022, the 5ireChain company has successfully reached an impressive valuation of $1.5 billion, making its status as a crypto unicorn.

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5ire Overview

Ticker: 5IRE
Country: United Arab Emirates
Founded: 2021
Whitelist: Yes
Blockchain Network: 5ire Chain
KYC: No
Bounty: Yes
MVP: Yes
Type: IDO, IEO
Security Audit: Yes

5ire Review

5ire is a Layer-1 EVM-compatible smart contract platform that prioritizes the sustainable growth of for-profit organizations on its chain, aligned with the United Nations’ Sustainable Development Goals.

Since its inception in 2021, 5ireChain has successfully achieved a remarkable $1.5 billion valuation. The project has established strong support from various funds, including GEM Digital, Sram & Mram Group, x21 Digital, and Moonrock Capital while raising over $121 million.

The 5ire chain ecosystem is rapidly growing. It has already developed a wallet extension on 5irechain, integrated its chain in MetaMask, and announced the mainnet launch scheduled for Q3 of 2023. It is powered by the native 5IRE coin, which plays a key role in DAO voting and staking and is backed by its innovative Sustainable Proof of Stake consensus mechanism (SPoS).

SPoS is an enhanced version of the Proof of Stake consensus model, designed to increase the probability of selecting smaller yet highly active and loyal validators for block assembly. The selection process takes place every 12 hours, based on validator priority weights, determined by:

  • Stake (50% Weight): The node with a higher stake receives a priority during selection.
  • Randomized voting (20% Weight): Nodes can randomly vote on potentially chosen candidates for assembly and gain additional weight for the next selection. This adjusts the chances of smaller, but more active and loyal nodes being selected for the assembly.
  • Sustainability score (20% Weight): The 5ire crypto protocol collects data from stakeholders participating in the network and evaluates your environmental, social, and governance score. 
  • Reliability score (10% Weight) is determined by factors such as the node's age, activity within the last 7 days, amount of time nodes have held the stake, and the number of successfully assembled blocks before.
  • Previous nomination (-2% of Weight).

Learn more about SPoS here

5ire Token Economy

Total Raise: $221,874,000
Total Supply: 1,500,000,000
Private/Pre-sale: 391,500,000 (26.1%)
Public Sale: 14,521,405 (0.97%)
Fully Diluted Valuation (FDV): $90,000,000
Initial Circulation Supply: $2,939,002 (3.27% of FDV)

5ire Token Release Schedule

5ire Token Release Schedule

5ire Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  21 Dec 2023 Upgrade

5ire Team

Pratik Gauri
Pratik Gauri
CEO & Founder
Prateek Dwivedi
Prateek Dwivedi
Founder & Chief Product Officer
Vilma Mattila
Vilma Mattila
Co-founder
Bibin Babu
Bibin Babu
Chief Growth Officer

5ire News

5ire Roadmap

2021

5ire Founded

30 November 2022

Test Net launched 

2023
  • MetaMask Support in the 5ire Explorer App
  • Remix Integration with the 5ire Explorer App
  • Dual-Chain Wallet Browser Extension
  • Testnet Thunder Beta
  • Polkadot (.Js) Extension Integration with 5ire Explorer, Nominator and Validator Apps
  • Update of the Consensus Mechanism
  • Testnet Thunder GA
Q3 2023

Mainnet Launch

2023

TGE

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