Explanation: Sudoswap Token Allocation Controversy
Author:@w_goldminer Today, Sudoswap posted outlines the distribution of SUDO, the governance token of the sudoAMM protocol. The allocation ratio is as follows. XMON holders: 25.12M, 41.9%;0xmons NFT holders: 0.9M, 1.5%;Retroactive LP airdrop: 0.9M, 1.5%;Treasury: 15.08M, 25.1%;Initial team members: 9M, 15%, vested over 3 years with a 1 year cliff;SudoRandom Labs: 9M, 15%, vested over 3 years with a 1 year cliff. However, the percentage of tokens allocated to Sudoswap is unusual. Underneath the tweet about "SUDO token allocation", many users said: "41.9% for xmon, the world's big joke." Cause up to 41.9% of SUDO tokens were allocated to $XMON holders. Sudoswap is known to have been started by anonymous developers 0xmons, zefram.eth and 0xhamachi. The Oxmons team posted a tweet in December 2021 that, i usually dont talk about price, tokens, or leak alpha. today is the 1 exception this year.
with opensea basically confirming no token, and talk turning to open alternatives, im going to talk a bit more openly about what we're building @sudoswap, and why im MAX HYPED explained that the team launched the Oxmons project in late 2020, the project ecosystem includes XMON tokens and Oxmons NFT, and has no VC involvement in the investment. In 2021 the team began building the NFT AMM protocol——sudoswap, which was created so that users could trade their Oxmons NFT. The tweet also discuss Sudoswap's future and its native token $SUDO. Indicating that after sudoswap's release, the subsequent goal is to move to a DAO model and start raising funds. The tweet specifically mentions that because the Oxmons project was launched without VC investment, early backers will be rewarded with a subsequent sudoswap release. When making future token allocations, $XMON holders and Oxmons NFT holders will be the primary consideration. It seems plausible to assume that this time $XMON holders are getting 41.9% of SUDO tokens as the team is fulfilling the 2021 engagement, even if 41.9% is unreasonably high. However, the initial supply of $XMON tokens was 10k and the current number of addresses held is only 3657. Of the $XMON holding addresses, the address starting with 0x4e2f98c holds 7488.28 tokens, worth about $260 million, or 74.88%, which in fact belongs to the Oxmons team. 41.9% of the SUDO tokens are distributed to XMON token holding addresses, while 74.88% of the XMON tokens are held by the team, which multiplies to 31.37% of the SUDO tokens. of the SUDO tokens were allocated to the Oxmons team. Besides, the founding team and the Sudorandom Labs team may be from the same team or most of them overlap. And 15% of SUDO tokens are allocated to the founding team and 15% to sudorandom labs, meaning 30% of SUDO tokens are allocated to their own team. So at least 60% of the tokens were actually allocated to the Oxmons team, plus 25.1% to the treasury and 1.5% to Oxmons NFT holders, these accounted for 98.5% of the SUDO tokens, while only 1.5% of SUDO was allocated to LP users. Some time ago sudoswap was hot, attracting about 22,000 users to interact and add liquidity to sudoAMM, while LP users ended up with only 1.5% of the SUDO tokens and most users did not receive one token. This highly controlled distribution system by the team seems to have completely abandoned the community users. Follow us Twitter: https://twitter.com/WuBlockchain Telegram: https://t.me/wublockchainenglish If you liked this post from Wu Blockchain, why not share it? |
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