According to a published blog post, the decentralized NFT market sudoswap, new management your altcoin distributes it to community members via an airdrop.
Ethereum The 60 million initial supply of the based SUDO token will be distributed mostly to XMON holders, the native token behind the 0xmon NFT collection created by the founders of Sudoswap.
After Announced That XMON Altcoin Holders Will Receive Airdrop, Price Rise!
XMON holders will participate in a lockdown to collectively receive 41.9% of the total SUDO supply. During the quarterly lockdown period, XMON holders will be able to receive 10,000 SUDOs per locked XMON token.
According to CoinMarketCap data, the price of XMON has increased by 34% in the last 24 hours.
The blog post also stated that 1.5% of the SUDO supply will be distributed to 0xmon NFT holders, while the retroactive liquidity provider airdrop will allocate 1.5% of the supply to Sudoswap liquidity providers.
The remaining 55.1% of altcoins will be split between the treasury, the founding team members, and the SudoRandom labs that are the primary contributors to the Sudoswap protocol.
According to the post, SUDO will not be transferable initially.
This post outlines the distribution of SUDO, the governance token of the sudoAMM protocol. https://t.co/aGwNWSDaB6
NOTE THAT THE SUDO TOKEN GOVERNING THE SUDOSWAP PROTOCOL HAS NOT YET BEEN DEPLOYED. PLEASE EXERCISE CAUTION
— sudoswap (@sudoswap) September 2, 2022
The blog post said, “The token will not be altered in any way by the locking mechanism, except that the XMON will retain 100% of its functionality and the locked XMON will not be transferable during the lockdown period” and added:
“This was done as a precautionary measure to ensure that SUDO does not enter circulation unless and until assurances are given that SUDO holders will have adequate participation in management.”
Sudoswap is an automated market maker NFT platform that uses self-monitoring and autonomous trading mechanisms.
*Not investment advice.
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