$SDN Token Allocation
Shiden Network is a fork of Plasm Network and acts as a smart contract Kusama Parachain. The token economics of Shiden Network is slightly different from Plasm Network because Kusama is different from Polkadot. The initial token supply is 70 million with 10% inflation every year.
Users (#3,000,000)
We have done 2 lockdrops with ETH. More than 150,000 ETH had been locked on our smart contract in 2 months. We issued tokens based on the opportunity cost and operation costs. Our lockdrop is NOT an ICO or investment but a sort of staking. We forked Plasm at block number #3,000,000.
Parachain Auctions
To become a Polkadot Parachain, we collect KSMs from the community and issue SDNs as a reward. 30% is prepared for the crowdloans for Parachain Lease Offering. We are going to use 22% for the first auction and 8% for the second auction.
Parachain Auction Reserve
Funds to be used for future parachain Lease Offerings. (Additional funds)
Protocol Development
Funds to be used for protocol developments and a grant program (TBA)
On Chain DAO
Funds for the on-chain treasury that our community decides how to use.
Funds to be used for marketing purposes.
Ecosystem Growth
Funds to be used for ecosystem growth program
Incentive pool for employees.
※ Our core team manages the assets and all assets shall be used in 3 years except for on-chain governance. On-chain governance will be activated after we enter into DAO. Since all assets transfers are verifiable on block explorers, the team can't manipulate the market.
To make the difference understandable, I would like to write the difference below.

Parachain Auctions

We reserve 30% for the Kusama Parachain auctions. In the case of Shiden Network, we will use 22% for the first auction and 8% for the second auction. As you can see above, we still have 5% buffer (Parachain Auction Reserve). Shiden Network is a community-driven layer1 blockchain.

Real Community Driven Blockchain

1 year after the genesis block, more than 50% of SDN tokens will be owned by community members.
Last modified 1mo ago