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Camino Network, the Layer 1 focused on the travel industry, has announced that it’s integrated Fireblocks, the leading liquidity and security layer. Fireblocks provides enterprise-grade solutions that make it easier to access and secure digital assets and its integration with Camino will enhance the range and security of services available to network users.
Fireblocks Enters the Fray
Fireblocks is in the business of making onchain interactions more secure and it’s a business it’s very good at, as more than 1,800 partners will attest. Its technology fortifies every aspect of interacting with digital assets, from wallet security to treasury management. It also enables trading with thousands of liquidity partners through Fireblocks Network, enabling projects to access counterparties and conduct secure transfers.
Camino Network’s decision to integrate Fireblocks will enhance its credentials as an enterprise-ready travel blockchain and give end users confidence in their ability to securely interact onchain. The integration of Fireblocks arrives at a critical phase for Camino Network as it gears up for its CAM token launch and prepares to onboard more travel partners to its Layer 1. The availability of best-in-class tooling and custodial solutions courtesy of Fireblocks will make it easier to secure partnerships that will accelerate Camino’s goal of transforming the travel industry using web3 technology.
Thomas Stirnimann, Council President of Camino Network, said: “By working with Fireblocks, we have access to more than 30 renowned crypto exchanges and trading partners with one integration. Additionally, the custody technology solution provided by Fireblocks is the most secure and powerful digital asset treasury management offering in the market.”
🚀 Web3 is the future of travel technologies with the first-of-its-kind blockchain, crafted by travel tech experts for travel tech and web3 devs.Facts 🎥↘️https://t.co/HUnXrdGTyp
— Camino Network (@camino_network) August 6, 2024
Laying the Groundwork for the CAM Token
Due to the sophistication of hackers and the constant threat of exploits, web3 projects are obliged to be vigilant and to invest in defensive measures that can keep their digital assets secure. The integration of Fireblocks will ensure that Camino Network has a robust framework in place for safeguarding the crypto tokens it trades and custodies, and will facilitate storage and distribution of the CAM token.
A number of use cases have already been engineered for CAM, including serving as the network’s native gas token and administering validator rewards. It will also be used to reward customers who access dapps on Camino Network and enable holders to enjoy discounts on travel bookings. Having already raised 8.8 million Swiss francs (CHF) in private funding, Camino Network is halfway towards achieving its goal of creating a travel ecosystem that can deliver greater efficiency and benefit all participants, from hoteliers to customers.
The CAM public token sale will be the next major milestone to complete, after which the number of dapps deployed on Camino Network will proliferate. At this stage, CAM holders will be able to experience first-hand the benefits of making travel bookings on a dedicated blockchain network and to reap the rewards on offer for utilizing Camino partners. Camino Network has already onboarded more than 200 global travel companies including hotel booking platform Sleap. And with Fireblocks now providing token security, Camino Network is well positioned for the CAM launch which is expected in Q4.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.