Interpreting CoinList’s New Project Meson: Another Rising Star in the DePIN Field
CoinList has announced the launch of the DePIN project Meson Network. Meson Network is at the forefront of the booming DePIN trend, leading the decentralized bandwidth trading market with a large user base and node resources. The project originated from decentralized storage services and gradually expanded its scope to include social, blockchain, and artificial intelligence data collection fields.
In this article, Odaily will provide an overview of Meson’s token information and project summary.
Token Sale Information
Token Utility
Token Economics
Project Summary
Meson’s native token is called MSN. The token sale will start on February 8, 2024, at 18:00 UTC (02:00 on February 9, Beijing time) with the following details:
Quantity: 2,500,000 MSN tokens, accounting for 2.5% of the total supply.
Price: $1.75 per token
Lock-up period: Approximately unlocks 1/6 on March 15, 2024, with the remaining tokens unlocked monthly within 6 months.
Initial purchase limit: Minimum of $50, maximum of $3,000, limited to USDT and USDC.
Note: Meson may decide whether to provide an additional 2,500,000 MSN tokens (2.5% of the total supply) for this sale during the sales period.
Purchase Qualifications: Users must hold a minimum purchase amount ($50 USDT or USDC) in their CoinList wallet before the registration deadline (12:00 UTC on February 5, Beijing time on February 5). This sale is not open to residents of the United States, China, Canada, South Korea, and some other jurisdictions.
As the incentive and governance token of Meson Network, MSN has a total supply of 100,000,000 tokens, with the following main functions:
Rewarding miners
Miner staking
Payment method for users
Participating in protocol governance (voting on the development or modification of protocol parameters)
Distributing tokens to miners as rewards for providing server resources.
Currently, due to the transfer function of Meson’s test token being locked on Ethereum, staking tokens do not have any benefits. Users of the service will pay with MSN to obtain additional bandwidth, and these tokens will be repurchased and rewarded to miners.
Token distribution is as follows:
Private token sale: 26,000,000 MSN (26%)
Public token sale: 5,000,000 MSN (5%)
Ecosystem: 27,000,000 MSN (27%)
Foundation reserves: 20,000,000 MSN (20%)
Technical team: 15,000,000 MSN (15%)
Partners: 6,000,000 MSN (6%)
Testnet mapping: 1,000,000 MSN (1%)
All future token inflation will come from mining rewards. The initial mining inflation rate is 5% per year, and the inflation rate decreases by 0.5% each year.
Today, Meson Network announced that it has completed a new strategic financing round led by Presto Labs, with a valuation of $1 billion. The specific financing amount was not disclosed.
Meson Network focuses on DePIN+AI and aims to build a user-authorized decentralized physical network. Meson’s network “DePIN” nodes are developed using user-friendly technology and can accommodate various hardware such as personal laptops, servers, and IoT devices. By utilizing the idle bandwidth of these network nodes, Meson establishes an economic cycle that connects idle resources with business needs. Its vision is to become the cornerstone of decentralized storage, computing, and the thriving Web3 Dapp ecosystem.
In simple terms, the logic of this business is straightforward: users rent out their unused bandwidth resources to other users.
According to Meson’s official website, the total number of its summarized nodes has exceeded 100,000, currently at 115,194 nodes. Its IDC is widely distributed worldwide. The bandwidth capacity is approximately 20 Tb/s, with an average latency of 90 ms.
Meson’s protocol model provides flexibility and scalability, aiming to create a decentralized bandwidth market. In Meson’s model, users can convert surplus bandwidth into tokens, making it convenient for those in need to access global bandwidth resources. This will be an interesting attempt to activate the long tail market.
Another business scenario for Meson is the ledger data of the increasingly large Web3 network.
For example, BNB Chain utilizes Meson Network’s global node distribution to shorten the synchronization time for the entire chain’s state snapshot. BNB Chain’s transaction data has already exceeded 2.5 TB, and synchronizing snapshot data between different nodes takes about 20 hours. Therefore, synchronizing data among BNB Chain nodes located around the world has always been a complicated task. With Meson enabled, the network can synchronize snapshots in approximately 1 hour.
For developers, Meson also provides the Meson Cloud developer platform, which includes three products: Gateway X, mCloud, and mPad.
Gateway X is a gateway service provided by Meson, acting as a bridge between Web3 (such as Arweave/IPFS) and traditional Web2. Gateway X provides developers with unlimited cache storage capacity and charges based on bandwidth usage. It also supports dedicated gateway connections and various Web3 domain name resolution acceleration services, facilitating seamless interaction with the Web2 network. Additionally, it supports “one-click import” functionality, providing one-click migration/backup for Arweave and IPFS files.
mCloud is a Web3 PaaS solution that provides developers with application hosting and deployment services. It supports full-stack application and docker deployment technologies, with reliability and high redundancy. Developers can deploy applications on both traditional data centers and various blockchain nodes simultaneously to prevent service unavailability due to single-point dependencies.
mPad is a new way of content distribution. Its underlying protocol does not require a platform carrier and can store multiple protocol objects, reducing the risk of file loss. It supports P2P transmission protocols such as Arweave, IPFS, and BitTorrent, and utilizes GatewayX to improve retrieval speed. The service is also resistant to censorship, distributed through the underlying protocol, breaking the limitations of geographic distribution, allowing for free transmission and sharing of content.
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