ConsenSys and Skale Kick Off New Token Issuing Platform

Activate is making its inaugural token launch with Skale Network, according to a Feb. 11 press release.

Activate is a token launch platform developed by ConsenSys Codefi, which seeks to jumpstart the actual usage of new networks.

Its first launch partner and inaugural project is Skale Network, a smart contract platform based on Ethereum.

"Activate is a platform that allows anyone to engage and participate in decentralized networks. That's kind of like a statement as a whole. And the best way to think about it is it equips you with the means to purchase, manage or use your utility tokens through its entire existence."

"What we're planning to do with Activate is to take our launch partners through the journey of the token distribution, and then equipping the token holders that receive them with being able to immediately and actively use them in the network."

"Proof of Use is a programmable mechanism that ensures that any token holder that receives tokens as part of a launch also demonstrates an intent to use them. What that translates into is that you are required for a set period of time to use your tokens, until you're able to use them for other purposes."

In the case of Skale, token buyers are required to devote 50 percent of their holdings into validating the network for at least 90 days.

Collecting money is not criticalFor the Activate team, token sales are just one of the available mechanisms to distribute tokens.

In order to achieve these figures, Skale Network will make use of a few dozen validator operators, who can manage multiple network nodes each.

The token auction will be live some time in Q2 2020, with Activate currently allowing pre-registrations.