Ritual mainnet launches, with native token RITUAL simultaneously introduced and listed on Coinbase.

BlockBeats news, October 27 - Ritual Foundation announced in a post that the Ritual mainnet is officially live, with the native token RITUAL launched simultaneously and its first exchange listing now open on Coinbase.

According to the introduction, Ritual aims to support autonomous operation of on-chain AI Agents. Agents can hold their own keys and pay for computing costs such as inference, API calls, and scheduled tasks through earned income; execution nodes are responsible for providing computing services and receiving token rewards, while validators coordinate tasks and settle transactions.

In terms of token mechanics, RITUAL is used to pay network gas fees and related service fees. Its total supply has no cap and operates through continuous issuance combined with base fee burning from transactions. The project team stated that tokens held by insiders will be locked for at least one year from mainnet launch and cannot be staked during the lock-up period.

In addition, the project team will distribute 50 million RITUAL to eligible Infernet operators, Frenrug users, and long-term community members, accounting for 0.5% of the initial supply, all unlocked at launch. On the cross-chain front, LayerZero provides cross-chain services for RITUAL; tokens bridged out of Ritual will be locked on the original chain and will not create new token supply as a result.