PANews reported on December 10 that Fuel Labs announced the launch of the ERC-20 token $FUEL on the Ethereum mainnet, which will be launched within two weeks to ensure the security of the decentralized sorter and enable user fee-free transactions by applying a specific sorting mechanism. The total supply of $FUEL is 10 billion, with more than 51% allocated to the community, ecology and R&D, and 20% of the initial supply rewarding Fuel Points Program and testnet participants. The community portion will be 100% unlocked when the token is launched, while the team and purchaser portion will adopt a linear unlocking mechanism of 24 to 48 months, during which time the token cannot be staked and locked.
As the fastest (>600 TPS) and lowest cost (<$0.0002/transaction) Optimistic Rollup on Ethereum, Fuel plans to promote the popularization of blockchain. Fuel will further decentralize the network, and users can stake $FUEL to participate in network security and receive rewards. The community expansion plan is carried out in cooperation with Legion, Impossible Finance and Bitget.
