Key Points:
- SoSoValue will launch its SOSO token on Ethereum next week, with 49 million tokens distributed during the first airdrop season.
- The SoSoValue token airdrop includes 4 million tokens via Bybit’s Launchpool, 15 million under a proof-of-work program, and 30 million as PoS rewards tied to index tokens.
SoSoValue, a crypto market data provider mostly known to provide ETF tracking services, is reportedly going to launch its native token SOSO on Ethereum next week.
Read more: Canary Litecoin ETF Seeks Approval With New Applications
SoSoValue Token Airdrop Allocating 49 Million Tokens to Users
The platform will begin its first airdrop season, giving out 49 million SOSO tokens, which represent 4.9% of the total token supply of 1 billion, according to co-founder Jessie Lo, reported by The Block. The SoSoValue token airdrop, drawn from SoSoValue’s 30% ecosystem allocation, is divided into three categories.
Bybit will handle 4 million tokens on the Launchpool platform, issue 15 million tokens in the PoW program during the creation event, and give away 30 million tokens as PoS rewards within a period of 31 days, starting from 25 January to 25 February.
Distribution of Tokens to Be Done in the Future to Strengthen Engagement
A snapshot of the PoW allocation has already occurred, and those 15 million tokens will not be subject to any vesting period upon release. Regarding PoS rewards, the tokens are locked to SoSoValue’s index tokens, meaning participants need to buy these tokens, then farm XP, and fulfil eligibility criteria to earn rewards.
Bybit will mark the first, and so far the only, exchange listing, while other announcement dates are expected at any moment in time. The remaining 255 million tokens, assigned to the ecosystem fund, shall be distributed later through subsequent SoSoValue token airdrops.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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