The Connext project, a cross-blockchain messaging protocol, is expected to launch its native token, called NEXT, on September 5, after more than a year of initial planning for the token release . Early adopters on the Polygon, Arbitrum, Optimism and Gnosis Chain networks will be able to claim NEXT tokens, and registration will begin on September 5.
Connext is a protocol that allows the transfer of information across various blockchains. This project has processed more than 1.2 million transactions across various blockchains, with a cumulative transaction volume of up to 1.6 billion USD.
The NEXT token will be used to manage Connext's ecosystem through a decentralized autonomous organization.
In the future, this token will have additional network decentralization functions by allowing operations such as routing through the blockchain and token listing without the need for approval. This will be done through staking of NEXT tokens, subject to approval by the autonomous organization.
In partnership with Tokensoft, Connext also announced a "cross-chain airdrop" service. This service allows airdrop recipients to claim tokens on any chain without friction or gas fees.
In June 2023, Connext successfully raised 7.5 million USD in a strategic funding round, with an expected valuation of up to 250 million USD, bringing the total funding from investors to 23 .5 million USD.