Espresso Announces Launch of ESP Token, Airdropping 10% of Total Supply

The Espresso Foundation, which operates the foundational layer connecting multiple blockchains, 'Espresso Systems', announced on the 12th the launch of its proprietary cryptocurrency token 'ESP'.

Consequently, the network will transition from a development team-led model to a permissionless model where anyone can stake tokens and participate as a validator.

Espresso is a project that provides a technological foundation enabling interoperability between different blockchains. Since the mainnet launch in November 2024, it has processed over 65 million blocks across chains such as ApeChain and RARI Chain.