Aztec has recently launched its mainnet, dubbed the Ignition chain, aiming to establish itself as a decentralized Layer-2 solution on Ethereum. This chain operates without any centralized operators, allowing the community to stake their tokens as it begins a significant token sale.

This Ethereum Layer-2 network’s launch includes a functional chain capable of generating blocks, though it lacks the smart contract execution layer at this moment. Aztec announced through an email that they wish to remain decentralized; thus, neither the core team nor investors can run nodes or engage in governance for a year.

Aztec Staking Now Available

Holders can now stake their tokens, helping in maintaining consensus and earning rewards from the block generation. The initial staking rewards may be higher for early participants since the block rewards will be distributed among fewer stakers. Currently, over 107 million AZTEC tokens are staked by the community.

Token Sale Currently in Progress

The token sale is ongoing exclusively for whitelisted community members, having garnered bids amounting to approximately $2.77 million. This sale, which started on Nov. 13, is set to conclude on Dec. 1. All tokens bought will have a lockup period of at least 90 days.

This initiative represents a significant move toward fully decentralized blockchain solutions, continuing to attract a wide interest.