CESS, supported by DWF Labs, launches today on Binance Alpha ahead of possible spot listings on KuCoin and Bitget, deepening its market exposure.
The native token of the DePIN-based storage blockchain CESS Network, CESS, will be listed on numerous prominent centralized exchanges, such as Binance Alpha, KuCoin, and Bitget.
According to an official X announcement, Binance Alpha will be the first exchange platform to list the token later today. The precise time of the listing has not yet been disclosed.
Once trading commences, Alpha Points will be redeemable by eligible Binance users for an undisclosed quantity of CESS tokens through the Alpha Events page. The airdrop mechanism and distribution details will be disclosed upon the commencement of commerce.
Trading for CESS will commence on other significant exchanges, including Gate.io, MEXC, KuCoin, and Bitget, at 10:00 UTC today.
The token is initially being issued on the BNB Smart Chain (BEP-20 standard) as the CESS Network’s mainnet has not yet launched, per the most recent tokenomics documentation.
The BEP-20 CESS tokens will be swappable 1:1 for native tokens through an official cross-chain bridge or token migration mechanism supported by the CESS team following the anticipated mainnet launch in the coming months.
The total allocation of CESS will be set at 10 billion tokens after the official token generation event, with an initial circulating supply of 3.5 billion tokens.
Mining incentives are distributed to decentralized storage node administrators over 31 years, with a halving model every four years. Approximately 45% of the total supply is allocated to this purpose.
Additional allocations consist of 15% reserved for the project’s treasury and foundation, 12.5% for the core team and advisors subject to long-term vesting, and 10% for investors.
Additionally, 12% of the supply has been allocated for community development initiatives and ecosystem partnerships, while 5% has been designated for marketing.
What is the CESS Network?
The CESS Network is a decentralized cloud infrastructure layer that enables data storage and delivery in real-time while maintaining privacy.
CESS is a high-performance Layer-1 blockchain designed explicitly for DePIN use cases and data availability, focusing on the AI, Web3, and DeSci ecosystems. It is built on Substrate.
CESS is the native utility token of the CESS ecosystem, and it is utilized for various purposes, including the payment of storage fees, the staking of node administrators, the compensation of verifiers, and the participation in decentralized governance.
CESS secured $8 million in a Series A funding round in December 2023, which was led by DWF Labs, HTX Ventures, Web3 Foundation, and Infinity Ventures Crypto. Additional strategic funders also contributed to the round.
According to reports, the capital was allocated to expanding core infrastructure, supporting mainnet readiness, and scaling adoption among AI and decentralized data platforms.
