Cudos, the United Kingdom-based decentralized cloud and computation network, has announced that its token CUDOS will list on Huobi Global, one of the world’s largest cryptocurrency exchanges. The CUDOS-Tether (USDT) pair will be tradeable on Huobi on March 30, 2022. This is the token’s highest-profile listing to date.
The Cudos network is a multi-layered blockchain that aims to solve fundamental issues in computation, off-chain data gathering and cloud services. Its native CUDOS token is critical for its ecosystem’s efficient functioning. Utilizing a delegated proof-of-stake consensus model, the token secures the network and allows users to exercise power by voting on governance proposals.
“Over the last year, the Cudos network has grown exponentially, demonstrating the enormous demand for environmentally friendly cloud and computation solutions. Our successful testnet, which attracted thousands of developers, is a testament to our community’s immense support and commitment. The Huobi listing is the latest validation of our efforts toward realizing our goals and underscores our dedication to expanding global access to CUDOS. As a compute network powering blockchain and the cloud by enabling anyone to contribute spare computing capacity, this listing expands our global coverage,” said Matt Hawkins, CEO of the Cudos network.
Empowered by the network’s cost-efficient model, developers will be able to install next-generation smart contracts based on CosmWasm and eventually Ethereum Virtual Machines via Ethermint, benefitting from the robust security guaranteed by blockchain technology. Cudos achieves this enhanced degree of efficiency and security by utilizing a broad community of validators combined with a resilient node design. As a result, network users trust the various enterprise and developer use cases that can deploy on the platform.
Tokenholders of CUDOS will gain access to wide-ranging benefits, from staking on the Cudos network to liquidity provisioning on decentralized exchanges, running Cudos validator nodes and testing the network’s computing capabilities. The token’s utility is especially appealing to developers, decentralized finance (DeFi) enthusiasts, organizations and individuals interested in running validator nodes on Cudos.
The rapid growth of the Cudos network in 2021 saw a corresponding expansion of its token accessibility via several high-profile exchange listings. Some of the major exchanges CUDOS is currently tradeable on include KuCoin, Bittrex, Ascendex and Liquid. The expanded access enabled by these listings has contributed to the network’s recent explosive growth, and the Huobi listing marks a significant acceleration of that trend.
Details for the CUDOS Huobi listing
- Scheduled listing time: March 30, 2022, at 14:00 UTC
- Trading pair: CUDOS-USDT.
Further information on the Cudos network’s development can be found in the network’s weekly developer updates. Users can also follow the Cudos social media communities to stay informed on the latest announcements about the network’s readiness for its mainnet release, strategic partnerships and other initiatives.
The final phase of the Cudos incentivized testnet remains open to developers who can take on some of the outstanding tasks and stand a chance of earning rewards. In addition, the network is working toward its mainnet launch in the coming months with an ever-growing community.
Huobi Group, a world-leading blockchain company, was founded in 2013 to make breakthroughs in core blockchain technology and further the integration of blockchain technology with other industries. Huobi Group has expanded its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research and more. Huobi Group has established a global digital ecosystem by investing in more than 60 upstream and downstream companies in the blockchain industry.
Cudos is powering the metaverse bringing together DeFi, nonfungible tokens and gaming experiences to realize the vision of a decentralized Web3, allowing all users to benefit from the growth of the network. It’s an interoperable, open platform launchpad that will provide the infrastructure required to meet the thousand-fold higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a layer-1 blockchain and layer-2 community-governed compute network designed to ensure decentralized, permissionless access to high-performance computing at scale. Its native utility token CUDOS is the lifeblood of the network and offers an attractive annual yield and liquidity for stakers and tokenholders.