Layer 1 blockchain with a modular intent-centric access approach, Self Chain (SLF), announced the release of the tokenomics for its native token, SLF.
Within the Self Chain network, SLF facilitates transaction fee payments, DPoS validator staking, and participation in governance activities. Additionally, it operates as collateral within the ecosystem, incentivizes validators in fee markets, and is utilized for trading fees on internal exchanges.
The total supply of SLF tokens amounts to 360 million. The tokens will be released in accordance with unlock schedules, and all tokens will be eligible for staking.
Self Chain intends to distribute the total token supply, allocating 28% to validator nodes and growth sale, earmarking 25% for migration, dividing 20% evenly between equity investors and foundation nodes, allocating 19% to ecosystem development, and designating 8% for the team.
Migration allocation will proceed without unlocking and vesting. Equity investor allocation will experience 0% release upon mainnet launch, followed by a one year cliff with vesting every month over two years. Validator node and growth sale will see 0% release upon mainnet launch, followed by a 6-month cliff and subsequently vesting each month over one year.
Ecosystem allocation will have approximately 20% release upon mainnet launch, followed by vesting every month over three years. Foundation nodes will undergo permanent locked vesting, with coins locked indefinitely. The team allocation will have a 0% release upon mainnet launch, with a subsequent one-year cliff and vesting every month for over five years.
SLF TokenomicsCreating a strong and lasting blockchain isn't easy. It takes a lot of hard work, especially when it comes to making tokenomics that are fair and make sense. In this blog, we're going to break down the SLF token's tokenomics, explaining why they were set up the… pic.twitter.com/5WcMdIc5z9
— Self Chain (@selfchainxyz) May 31, 2024
Self Chain Introduces Second Incentivized Testnet And Completes Security Audit Ahead Of Mainnet Launch
Self Chain provides keyless wallet infrastructure service utilizing MPC-TSS/AA for multi-chain Web3 access. This system streamlines interactions with its intent-focused methodology, employing large language models (LLM) to interpret individuals’ intentions and identify effective pathways. Self Chain plans the launch of its mainnet for June 6th.
Recently, it has introduced its second incentivized testnet, aiming to improve testing and enhancements through increased participation from validators and stakers in delegated staking. Additionally, the platform has successfully completed a security audit with Beosin and addressed the findings identified during the audit process.
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