NFT’s decentralized exchange “Sudoswap” starts distribution of governance tokens

SUDO token distribution

NFT (non-fungible token) AMM (automated market maker) protocol “Sudoswap” started airdrop (free distribution) of governance token SUDO on the 31st. To decentralize the project, we started a token-based governance mechanism.

It’s time >s$SUDO governance will be launched later today, along with the lockdrop and airdrop.

SUDO is initially non-transferable. Transferability can be enabled by a standard governance vote.

Read below for more details

— sudoswap (@sudoswap) January 30, 2023

Sudoswap is a decentralized NFT marketplace launched in July 2022. You can create a liquidity pool for the NFT collection and realize automatic trading of assets with an AMM model where the price is calculated according to the inventory. At the end of July, it became clear that Uniswap, a major DEX company, was proceeding with the integration, drawing attention.

The allocation (distribution plan) of SUDO tokens was announced in September 2010, and was finally released on January 31st.

The SUDO token will act as a voting right in the governance structure that has influence over the Sudoswap protocol and the project as a whole. Proposals can also be submitted by collecting proxy votes of 300,000 SUDO.

According to Sudoswap’s official Twitter account, SUDO tokens received via airdrops cannot be transferred or sold at first. Removal of transfer restrictions will be determined by a governance vote in which SUDO token holders can participate. The voting period is five days in total, and a quorum of 2.4 million SUDOs and a majority vote are required to pass.

In addition, Sudoswap governance will be able to change the following parameters through votes of SUDO owners:

• commission rate
• Adding a new router (function)
• Collaboration with external NFT liquidity pools (whitelisting)
• Add new bonding curve (price formula)

Relation:Uniswap to integrate NFT automated market maker Sudoswap

Airdrop details

The total supply of SUDO is 60 million SUDO. It will be issued on the Ethereum (ETH) blockchain, with 1.5% of the initial supply (900,000 SUDO) allocated to Liquidity Providers (LPs). If you are interested, you can enter your wallet address on the Sudoswap airdrop page and check the acquisition rights.

According to the announcement, 25.12 million SUDO, which is 41.9% of the SUDO supply, will be distributed to liquidity providers of the governance token “XMON” of the NFT collection “0xmons” managed by the Sudoswap team (with a 3-month lock).

In addition, 1.5% of SUDO supply (900,000 SUDO) is distributed to 0xmon NFT holders, and 10,000 SUDO airdrops can be obtained per NFT.

Relation:NFT’s automated exchange “Sudoswap” to distribute governance tokens

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