NFT Trading Platform SudoSwap Launching SUDO Token And First Airdrop

January 31, 2023 - Around 2 mins mins to read

Key Points:

NFT Trading Platform SudoSwap Launches Governance Token, SUDO.
Sudoswap has airdropped its sudo token to eligible users.
According to The Block’s Director of Research, Steven Zheng, some airdrop recipients could get over $100,000.

NFT trading platform SudoSwap has announced that their SUDO governance token has been launched, according to the project’s official Twitter.

NFT Trading Platform SudoSwap Launching SUDO Token And First Airdrop

Sudoswap is also allowing holders of xmon, a streamed token to holders of its NFT collection, to lock their tokens to locked SUDO.

$SUDO is now live >s<

the $SUDO lockdrop and airdrop can now be accessed at https://t.co/lCBdBWMneI $SUDO holders can start participating in governance using frontends like https://t.co/pq7U8kXpuo
— sudoswap (@sudoswap) January 30, 2023

Lockdrop of SUDO (lock-up airdrop) and airdrop (airdrop) are now accessible and SUDO holders can now join the rule.

According to The Block’s Director of Research, Steven Zheng, some airdrop recipients could get over $100,000.

Assuming ~$120M FDV cap (which I think is fair given LOOKS valuation) at 60M initial supply, some SudoSwap airdrop receivers getting a six fig payday. pic.twitter.com/LU9dStEwEa
— Steven (@Dogetoshi) January 30, 2023

SUDO was initially non-transferable and this functionality could be implemented via standard administrative voting. Addresses with at least 300,000 SUDO delegates can create online proposals for the admin module.

After a 2-day voting delay and a 3-day voting period, proposals with no less than 2.4 million SUDOs and a majority vote can be implemented.

To show intent to participate in sudoAMM governance, XMON holders can lock their tokens for 1 month.

After that, the person who locks will receive 10,000 SUDO for locking 1 XMON. Holders of the sudoAMM LP early trading pool and 0xmons NFT (before the snapshot date) are also eligible for the SUDO airdrop.

Sudoswap is a decentralized NFT market on the Ethereum network and it works in a completely different way than other NFT markets. It aims to bring that familiar Uniswap experience to NFTs. It offers a platform where users can create and trade through liquidity pools, which are smart contract containers that consist of NFTs and ether (ETH).

The main advantage of Sudoswap is that there is always liquidity if there is a pool for your NFT collection, so you can instantly sell your NFT to a pool and get ETH. That said, you won’t always be able to get the price you want, so it may not be an ideal choice for super-rare, high-priced NFTs.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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