Towns (TOWNS)

TOWNS is a decentralized protocol for building real-time messaging applications with blockchain-secured communication infrastructure. It consists of an EVM-compatible Layer 2 chain (built on Base), decentralized “stream” nodes that deliver encrypted messages, and smart contracts managing Spaces, permissions, and token economy rules. TOWNS empowers communities to create programmable “Spaces” where permissions, subscriptions, and roles are governed on-chain. 

The TOWNS token can be staked on the Base network to contribute to the security and decentralization of the TOWNS proof-of-stake architecture. Token holders delegate their tokens to node operators to help support network operations. Rewards accrue continuously and are distributed on a bi-weekly schedule. Delegates receive rewards proportional to the amount of TOWNS delegated to their chosen operator, after the operator’s commission is applied.

Staking rewards are generated by the protocol and distributed to node operators and their delegators. Rewards are accrued continuously and paid every two weeks based on activity and stake distribution. Operators take a defined commission, and the rest of the reward is shared with delegators in proportion to their stake.

Yes. When initiating an unstake, TOWNS tokens enter a 30-day cooldown period before they can be fully withdrawn and transferred. This lockup supports network stability and prevents rapid stake fluctuations.

Yes. TOWNS Protocol enables slashing penalties for validator misbehavior (e.g., downtime or double-signing). Delegating to a professional validator like Figment helps reduce operational risk through robust infrastructure and monitoring systems.