DESK Is Back: CoinDesk Relaunches Social Token Into the Wild

CoinDesk is afloat launching its societal token, DESK, and making it an integral portion of the acquisition astatine Consensus 2022, our archetypal in-person lawsuit since earlier the coronavirus pandemic.

Attendees of the June 9-12 festival successful Austin, Texas, volition beryllium capable to gain DESK by doing specified things arsenic picking up their badges astatine registration, visiting exhibitor booths oregon joining CoinDesk’s rebooted Discord server. The token volition beryllium redeemable astatine the lawsuit for merchandise (e.g., T-shirts oregon hoodies), nutrient oregon beverages from Austin vendors that person partnered with us, non-fungible tokens (NFTs) and different rewards.

The large thought is to usage tokenomics to physique a loyal, engaged assemblage by providing the assemblage with incentives to interact with CoinDesk’s contented – and with 1 another. It volition besides springiness attendees who are caller to crypto a mode to larn astir blockchain technology, including the acquisition of mounting up and maintaining a wallet, with a comparatively low-stakes, nonfinancial asset.

CoinDesk beta-tested DESK a twelvemonth ago astatine Consensus 2021, a virtual event. At the time, the token ran connected Rinkeby, a testnet, oregon experimental situation for bundle nether development, for the Ethereum blockchain.

It was a deed with attendees, who created hundreds of wallets, claimed thousands of tokens for participating successful the league and redeemed them for NFTs and different rewards. A community spontaneously formed astir the merchandise with an unofficial Discord chat and adjacent a nickname: the piranhas.

Now, CoinDesk is relaunching DESK into the wild, with the assistance of partners Coinvise, Flexa, and NFTify.

The caller DESK is an ERC-20 standard token connected the mainnet, oregon unrecorded version, of the blockchain. However, to debar congestion connected Ethereum, the revamped DESK runs connected Polygon. This is simply a sidechain, oregon parallel network, to Ethereum that allows much and cheaper transactions by keeping them disconnected the superior chain. CoinDesk volition screen the outgo of gas, oregon on-chain computation fees, for DESK transactions connected Polygon.

Importantly, DESK is not a currency, nor is it a fiscal plus oregon concern merchandise of immoderate kind. It is simply a reward token, analogous to hose frequent-flier miles, edifice impermanent points and the like.

Neither does DESK purport to beryllium afloat decentralized. As the creator of the token contract, CoinDesk whitethorn set the proviso of DESK successful bid to promote spending and discourage speculation oregon hoarding. The institution besides reserves the close to delete the CoinDesk relationship and/or blacklist addresses of users that effort to database the token connected exchanges oregon different undermine the intent of DESK.

That said, DESK is simply a blockchain token. Users volition request to acceptable up a crypto wallet that works with Polygon (MetaMask is the beginner-friendly option) to assertion and redeem it. Subject to the imaginable restrictions mentioned above, users volition support afloat power of their DESK and tin transportation it to whomever they want.

After Consensus 2022, CoinDesk intends to grow DESK arsenic an engagement rewards programme for our broader audience, including aboriginal lawsuit attendees, readers of our flagship quality work and probe reports, newsletter subscribers, TV viewers and podcast listeners.

In coming weeks, CoinDesk volition people much accusation astir DESK, including an FAQ explaining however to gain and redeem the token and the afloat backstory of however and wherefore it was created.

The Festival for the Decentralized World

Thursday - Sunday, June 9-12, 2022

Austin, Texas