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NFT News- On January 30, SudoSwap announced the release of its original SUDO token.
- Liquidity providers on the SUDO network will be rewarded with a SUDO airdrop.
With the delivery of the coin to early backers, NFT marketplace SudoSwap announces the launch of its native governance token, SUDO. This shift has coincided with a recent increase in NFT trading volume, after a lull that was part of a larger decline in crypto activity.
On January 30, SudoSwap announced the release of its original SUDO token. There is an airdrop for early backers of the project as part of the token release, which was updated today.
Respect Liquidity Providers
Liquidity providers (LPs) on the SUDO network will be rewarded with a SUDO token airdrop. When compared to other NFT marketplaces such as OpenSea, SudoSwap offers a unique experience. It is similar to Uniswap in that it facilitates trading via an automated market creation mechanism but for NFTs.
SudoSwap makes it possible to set up a special pool of liquid assets for NFTs. Therefore, the airdrop is intended to reward liquidity providers, users who provide liquidity in the form of NFTs and crypto tokens to facilitate trading.
Airdrops are not limited to LPs; anyone who owns XMON is also eligible for free tokens. XMON tokens are native tokens of the ecosystem; its collection of NFTs was developed by the team behind SudoSwap. For the SUDO airdrop, XMON holders can lock up their tokens for a month. According to the release, anyone who does will get 10,000 SUDO tokens for every locked XMON coin.
The first airdrop distribution, SudoSwap has announced, is non-transferable. To enable token transfers, the DAO created by the token sale must elect to do so. As such, SUDO will serve as the token used to administer the SudoSwap DAO. Token holders with up to 300,000 tokens will have the right to submit governance suggestions to the DAO forums.
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