The team of decentralized NFT exchange SudoSwap has announced the first distribution of the SUDO governance token in the upcoming airdrop.

This post outlines the distribution of SUDO, the management token for the sudoAMM protocol. https://t.co/aGwNWSDaB6

NOTE THAT THE SUDO TOKEN GOVERNING THE SUDOSWAP PROTOCOL IS NOT YET DISTRIBUTED. PLEASE BE CAREFUL

— sudoswap (@sudoswap) September 2, 2022

The first issue will be 60 million SUDOs. The distribution will look like this:

• Holders of the service token of the XMON platform – 25.12 million (41.9%);
• 0xmons NFT holders – 0.9 million (1.5%);
• sudoAMM protocol liquidity providers as retroactive airdrop — 0.9 million (1.5%);
• project treasury – 15.08 million (25.1%);
• original team members – 9 million (15%);
• SudoRandom Labs as the main developer of the protocol – 9 million (15%).

The last two categories have a three-year qualifying period with a one-year gap.

XMON holders must lock their assets for three months to participate in the airdrop. During this time, the token will fully retain its functionality, with the exception of the possibility of transfer. In this case, the distribution will be performed at the rate of 10,000 SUDOs for each blocked XMON.

Tokens not claimed by this group of participants will go to the treasury. This build will be managed by the SUDO owners. It is assumed that the first option for its use will be initiatives such as grants, integrations, tools, bounty program support, liquidity and more for future participants.

If necessary, the board will be able to issue an additional 10% of the total annual SUDO issuance for the Treasury.

Initially, the control token cannot be transferred. To open up this possibility, a relevant proposal can then be put to a vote. SudoSwap explained the limitation by the need to ensure that token holders are “sufficiently” involved in the management of the project.

“Please note that the SudoSwap protocol control token has not been distributed yet. Please be careful,” the user team warned.

At the time of the announcement, the price of XMON rose from around $28,700 to $44,289, or more than 50%. After the correction, the asset is trading near $38,300 (Uniswap).

In July, Uniswap announced the launch of an NFT sales platform with full support for SudoSwap.

Recall that the DeFi platform also deals with the segment of lending secured by collectible assets.

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