Espresso network launches ESP token with 10% airdrop amid Ethereum layer-2 debate
Espresso Network launched its ESP token and transitioned to proof-of-stake, including a 10% community airdrop.Summary
The Espresso Network has officially transitioned to a permissionless proof-of-stake blockchain alongside the rollout of its ESP token, which is used for staking and protocol participation. The total supply is 3.59 billion ESP, with 10% allocated to a fully unlocked community airdrop for early ecosystem participants and users of Espresso-integrated rollups. Espresso acts as a coordination and finality layer for layer-2 rollups, designed specifically to serve them rather than compete at the execution layer. CEO Ben Fisch highlighted that Espresso finalizes rollup blocks in about six seconds, significantly faster than Ethereum's 12-minute finality window, arguing that fast finality is crucial for creating a unified, composable ecosystem across multiple rollups. This launch occurs amid ongoing debate in the Ethereum community regarding the future necessity of layer-2 scaling solutions as Ethereum's base layer improves.
(Source：CoinDesk)