Business News Report Technology
April 19, 2024

Modular Blockchain Sophon Announces Node Sale And Allocates 20% SOPH Token Supply To Node Operators

In Brief

Modular rollup Sophon unveiled its node sale to enable node holders to manage the blockchain’s sequencer and earn sequencer fees.

Modular Blockchain Sophon Announces Node Sale And Allocates 20% SOPH Token Supply To Node OperatorsModular Blockchain Sophon Announces Node Sale And Allocates 20% SOPH Token Supply To Node Operators

Entertainment-centered ecosystem developed as a modular rollup utilizing zkSync‘s hyperchain technology, Sophon (SOPH) unveiled its node sale to enable node holders to manage the blockchain’s sequencer and earn sequencer fees.

The sale is set to commence on April 30th, featuring 200,000 nodes offered through a tiered pricing structure. There will be no limit on the number of nodes that one can acquire during the sale.

To minimize expenditure on gas fees, nodes will be sold on zkSync. Following receipt, nodes will be non-transferable for a duration of one year. Additionally, claiming rewards for operating a node on Sophon will initiate a lock-up period of three months for those rewards.

Furthermore, once zkSync implements proof-of-authority (PoA) mechanism for hyperchains, running a node on Sophon will play a role in decentralizing the Sophon network. Node operators are also expected to earn rewards in the form of Sophon’s native token for their contributions to maintaining and ensuring the integrity of the blockchain’s decentralized infrastructure.

Sophon Reveals Tokenomics, Allocates Rewards for Node Operators and Stakeholders

In conjunction with the announcement, Sophon has unveiled its tokenomics, outlining that rewards for node operators will constitute 20% of the total supply emitted over a 36-month period. These rewards will be subject to an additional 3-month lock-up period after claiming. The allocation will be gradually released over the next three years, contingent upon sustained participation as a node operator throughout this timeframe.

Moreover, the Sophon Foundation will be allocated 25% of the total supply, subject to a 12-month cliff and 36-month vesting period. Seed contributors will receive 20% of the total supply, subject to a 12-month cliff and 24-month vesting period. Meanwhile, advisors will receive 5% of the total supply, subject to a 12-month cliff and 36-month vesting period, with 30% of the total supply reserved for the ecosystem reserve.

While engaging in the node sale presents an initial avenue for acquiring SOPH tokens, the project plans to introduce further methods for obtaining SOPH through an airdrop mechanism. As part of this process, users will have the opportunity, subject to relevant terms and conditions, to stake specific assets to become eligible for an SOPH airdrop. The initial asset unveiled for this purpose is BEAM, the native token of the Beam network.

Utilizing the ZK Stack, Sophon is uniquely crafted to accommodate a wide array of high-throughput applications, ranging from AI to gaming applications. This blockchain serves as a conduit for seamless interaction between developers and users and is supported by zkSync, Beam, Zentry, and Aethir.

Recently, the project raised $10 million in investment to further enhance its decentralized infrastructure. The funding round was led by Paper Ventures and Maven11, with participation from Spartan, SevenX, OKX Ventures, and Huobi Ventures.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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