Cherry Network, a data operations blockchain, is slated to deploy its mainnet between June 12 and 14, ahead of the debut of its staking function a week later, as per sources.
After implementing the mainnet and staking features, the team anticipates that some projects will interface with the Cherry Chain and use the ecosystem’s development tools and resources.
Cherry Network, for those unfamiliar, is a decentralized autonomous organization (DAO) working on a layer-1 blockchain that combines decentralized file systems and smart contracts. Meanwhile, the network provides items, services, and solutions that are secure, transparent, and cost-effective.
The Cherry team claims that its DAO offers a platform for user and developer privacy, data decentralization, and financial interfaces. Aside from the future on-chain staking capability, the Cherry Network supports Ethereum virtual machine (EVM) compatibility and will use zero-knowledge rollups.
Herman Jacobs supervises Cherry’s technical and commercial responsibilities and is the project’s driving force. Other renowned founders, executives, venture investors, and partners from other blockchain and digital services organizations join the project lead.
The Cherry team also told CQ that the initiative had signed agreements with many renowned blockchain investment companies, like Luben Capital and Shima Capital.
Lattice Exchange, Parallel, and Chainflip are the companies under Luben Capital’s portfolio. In the meantime, Shima has worked with companies such as Algorand, Boba Network, and Polkadot.
Despite its infancy, the Cherry platform has already developed its launchpad (Seedling.cm), a retail investment launchpad, and managed a beta version of Cherish.cx, a web3 content production platform. Unigate.finance, a cryptocurrency payments dApp, is also developed on the Cherry Network and will be fully operational in the next weeks.