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 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:
Learn more about SPoS here.
Test Net launched
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