Focusing on blockchain interoperability, the Connext project introduced the NEXT native token and announced the creation of a DAO.

I am happy to announce $NEXT and today the Connext contributor program @EFDevconnect in Amsterdam.

The future is cross chain!https://t.co/qneh3Z4o1B

0/x

— Connect | Hiring @ DevConnect (@ConnextNetwork) 20 April 2022

According to the statement, the existence of the ERC-20 standard ensures “fair use of the network” and full decentralization.

Operators of Connext nodes (routers) will be able to stake tokens to join the network and receive a proportional fee share. NEXT will also be used to manage the project treasury after the DAO is established.

“We believe the community is the best long-term arbiter of resource allocation for the key contributors that drive our network forward,” the post states.

The total number will be NEXT 1 billion. The distribution of tokens will take place in about a month. The team has already taken snapshots of user accounts for this.

You can also earn ADVANCE through the ongoing Contributor Program. The participants of the initiative will be rewarded for their contribution to the development of the project.

The program consists of five categories: community leaders, developers, content creators, node operators, and grant recipients.

Before the token is released, points will be awarded under the Contributor Program. After voting on the relevant proposal in the DAO, it is planned to be converted to NEXT.

Recall that in 2021 Connext raised $12 million from 1kx and Mesh, a ConsenSys company.