Holders of XMON (the native token behind the 0xmon FT collection) will be eligible to receive 41.9% from SUDO’s initial 60 million supply.
According to , a blog post published on Thursday, Sudoswap will release its new governance token via airdrop to community members.
The initial supply of Ethereum-based SUDO tokens, 60 million, will be distributed mainly to holders of XMON. This native token is behind the 0xmon NFT collection that was created by Sudoswap’s founders.
Collectively, XMON holders will receive 41.9% from the total SUDO supply. XMON holders will be able to receive 10,000 SUDO for each XMON token they have locked during the three-month lockup.
XMON token rallies 38% in 24hours
According to CoinGecko data, the price of XMON rose 38% over the last 24 hours.
In addition, the blog post stated that 1.5% SUDO supply would be distributed to holders 0xmon NFTs. A retroactive liquidity provider airdrop would allocate 1.5% to Sudoswap liquidity suppliers.
The 55.1% remaining tokens will be distributed across the treasury and founding team members, as well as SudoRandom Labs, which is the primary contributor to Sudoswap.
The post stated that SUDO would not be transferable at the start. The post stated that SUDO will not be put into circulation until it can be guaranteed that sufficient participation by SUDO holders in governance is possible.
Sudoswap, an NFT-based automated market maker platform that’s self-regulated uses autonomous trading and is called Sudoswap.