Sudoswap, an NFT marketplace, introduces a governance token and a backwards airdrop

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Last Updated on September 3, 2022 by Bitfinsider

To support the project’s transformation to a decentralized autonomous organization, a framework in which a community of users may make collective business decisions, NFT marketplace Sudoswap unveiled a new coin.

The SUDO token will be utilized for market governance, according to the Sudoswap team today. As is customary for cryptocurrency projects, the team is decentralizing the protocol to its community.

A emerging NFT market with an Automated Market Maker (AMM) methodology, Sudoswap was introduced in July. In this architecture, users can rapidly switch between two assets thanks to liquidity pools.

Any user on Sudoswap has the ability to build an NFT pool from a certain collection combined with ether. These exchanges provide trade quotes to NFT buyers and sellers and can instantaneously convert NFTs into ETH or the opposite.

A part of the 60 million SUDO tokens that will be available for purchase will be given away as an airdrop to the project’s early backers and holders of the XMON tokens, which are covered in more detail below.

Distribution of tokens

Based on specific criteria, the Sudoswap team distributed the 60 million SUDO tokens to various user groups as gifts. Those that lock the crypto token XMON, the native token of an NFT collection called 0xmons that was previously developed by the Sudoswap team, would receive the largest share of the tokens.

According to the distribution information, XMON token owners who lock their XMON in smart contracts to receive the airdrop will be eligible to receive 25.12 million SUDO tokens, or 41.9% of the supply. Owners of XMON tokens must lock their money for three months before they can withdraw it. Holders of 0xmon NFT will receive 900,000 SUDO tokens, or 1.5% of the total supply.

A retroactive airdrop was also announced by the Sudoswap team for its Liquidity Providers (LPs), or users who have contributed ether and NFTs to its pools. These LPs will each receive an equal amount of the 1.5% supply of SUDO.

15% (9 million) of the SUDO supply has been set aside for the initial team members based on the allocation. SudoRandom Labs, the project’s core development business, will receive an additional 15%. These tokens will have a three-year vesting period and a one-year cliff before being distributed to team members and SudoRandom Labs.

The project treasury will be the final recipient of tokens; it will get 25.1% of them, or 15.08 million tokens. The community members will be in charge of managing these money for development and expansion projects. SUDO tokens are now locked and cannot be claimed; they will only become available following a governance vote at a later time.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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