AVNU has unveiled the “Community Token Initiative,” which aims to provide a more secure and structured trading environment. It addresses the issues arising from the token management structures within the Starknet blockchain, as well as those related to token verification, relative security and the degree of openness, which is vital in the ever-evolving decentralized finance industry.
🚀 Meet the AVNU Community Token Initiative
Token lists are broken. No one has figured out how to maintain a secure, clean, and well-managed token list.
Today we challenge that!
We are launching several initiatives to make Starknet a safer and more dynamic place… pic.twitter.com/seZK84EwVo
— AVNU (@avnu_fi) November 11, 2024
Refresh token lists with the community platform
At the heart of the entire AVNU program are the new rules represented by the Community Token Platform, a system of token authentication that eliminates traditional barriers. In order for a Starknet token to be verified on this platform, it must meet requirements such as having Total Value Locked (TVL), daily trading volume, and owning unique tickers. Tokens can only be listed in AVNU if they meet these standards, so create a relevant, high-quality list.
This is done so that the platform allows the community to participate in the verification process. A minimum trading volume and TVL are required to eliminate low-quality and inactive tokens for better usage.
Role of the AV working group
A unique aspect of the initiative is the creation of the AV Working Group, a team of seven Starknet community members with a clear mission: to prioritize user safety. The purpose of this group is to discuss token requests that aim to authorize only legitimate tokens that ensure overall trading security. Before a token can be included in the AVNU Community List, it must be approved by the working group and a token must receive at least three positive votes from the working group members.
Introducing the Token List API
In addition to the Community Platform, the AVNU has also released a Token List API that provides real-time data on all tokens available for trading on the Starknet platform. This API further expands the data in real time with token details and associated verification tags, providing other ecosystem participants with accurate token data.
A community-managed future for Starknet
AVNU wants to make Starknet a secure and robust blockchain environment by allowing other community members to be part of the verification process. The Community Token Initiative can be adjusted using user feedback. Due to these transparency and user protection principles, AXNU plans to make Starknet the go-to hub for crypto trading due to this concept of community verification on decentralized networks.
AVNU also emphasized the role of users and called on members of the Starknet community to contribute to this open and ongoing process. “This is just the first step,” the company said, “and we are excited to build a more secure and user-friendly ecosystem together.”
