SYND Token Launch: Here’s What You Need to Know About the Token
Syndicate, an on-chain infrastructure network, has revealed in an X post that it will be introducing its native token, SYND. Over 50% of the token, or about 501.2 million, will be distributed to the community when it is launched on Ethereum. Not included in this 50.12% is the original 2% given out during the August 15 airdrop event. In addition to appchains, the airdrop was designed to draw in ecosystem players who would have been interested in creating and staking on Syndicate, as well as appchain users and developers.
Syndicate’s Historic US Launch
In late August, Syndicate was introduced. As one of the first decentralized networks created and deployed in the US, it made its debut. This is because it was established under the Decentralized Unincorporated Nonprofit Association, or DUNA, legal framework centered on Wyoming. The DAOs, or blockchain-based organizations, are given legal validity by the DUNA framework. Because of this, they may function legally without compromising their decentralized structure.
SYND puts real ownership and control of the network in the hands of the community via its Wyoming-based DUNA,
The network
SYND Token to Launch on Ethereum With 1 Billion Supply
The Litepaper states that SYND will be introduced on the Ethereum mainnet with a total amount of one billion tokens. About 92% has already been minted, and the token contract will automatically mint the remaining 8% as emissions. In order to foster the network’s expansion and encourage community involvement, the project’s structure permits what it refers to as emissions, in which the network will release tokens every 30 days for four years. This indicates that throughout the course of four years, 80 million tokens will be distributed progressively.
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