- Cherry Network is set to launch its mainnet between June 12 and 14.
- A staking feature will also be introduced a week after the mainnet launch.
- The project is a layer-1 blockchain that integrates decentralized file systems with smart contracts.
Cherry Network, a data operations blockchain, is set to launch its mainnet between June 12 and 14 ahead of its staking feature roll-out a week after, sources tell CQ.
Following the mainnet and staking feature launch, the team expects multiple projects to integrate with the Cherry Chain and utilize the ecosystem’s suite of developer tools and resources.
For the uninitiated, Cherry Network is a decentralized autonomous organization (DAO) developing a layer-1 blockchain that integrates decentralized file systems with smart contracts. All the while, the network offers products, services, and solutions mashed with security, transparency, and affordability.
According to the Cherry team, their DAO provides a platform for user and developer privacy, decentralized storage of data, and payments integrations. Furthermore, the Cherry Network features Ethereum virtual machine (EVM) compatibility and will leverage zero-knowledge rollups, aside from the upcoming on-chain staking facet.
The project is spearheaded by Herman Jacobs, who oversees the technical and business functions of Cherry. The project lead is joined by other notable founders, executives, venture capitalists, and partners from various blockchain and digital services firms.
The Cherry team also revealed to CQ that the project has inked several deals with prominent investment firms in the blockchain industry, including Luben Capital and Shima Capital.
Luben Capital’s portfolio lists Lattice Exchange, Parallel, and Chainflip, among others. Meanwhile, Shima has engaged in business with the likes of Algorand, Boba Network, and Polkadot.
Despite being fairly new, the Cherry platform has created its own launchpad (Seedling.cm), an investment launchpad for retail investing, and hosted a beta version of Cherish.cx, a web3 content creation platform. Crypto payments services dApp Unigate.finance is also built on the Cherry Network and is set to launch fully in the coming weeks.