Akash Network (AKT)USD

Akash Network is an open-source, decentralized cloud computing marketplace built as a Layer-1 blockchain using the Cosmos SDK. Independent providers lease computing resources to users through on-chain contracts. Greg Osuri and Adam Bozanich founded the project through their company Overclock Labs, which was formed around 2015. The Akash mainnet launched in September 2020, and the native AKT token followed via an initial exchange offering on BitMax in October 2020. Akash uses proof-of-stake consensus, with validators and delegators staking AKT to secure the network. The native token has three main purposes: paying protocol fees and settling transactions in the cloud marketplace, staking to secure the network and earn rewards, and voting on governance proposals covering protocol upgrades and parameters. AKT has a capped maximum supply of approximately 388,539,008 tokens, with a genesis supply of 100 million. New tokens are issued primarily through staking rewards until the cap is reached. Circulating supply is roughly 296 to 300 million AKT as of 2025. Akash Network is a permissionless alternative to centralized cloud providers, where users deploy applications on rented compute at market-driven prices.