Markets News Report
February 21, 2024

Smart Layer Network Unveils SLN Tokenomics, Will Allocate 4% of Community Incentive Pool to Community

In Brief

Smart Layer Network launched native token SLN and unveiled its tokenomics while also revealing details of an upcoming airdrop.

Smart Layer Network Announced SLN Tokenomics, Plans to Allocate 4% of Community Incentive Pool to Community

Programmable service network Smart Layer Network (SLN) released the tokenomics for its native utility and governance token, SLN, coinciding with the disclosure of an upcoming airdrop. The airdrop is expected to distribute 2% of the total supply of SLN, while the airdrop collection is scheduled to commence on February 23.

Smart Layer’s SLN token is crucial in securing and powering its network and facilitating various tools within the ecosystem, including the Smart Layer Launchpad. The SLN token has a maximum supply of 100 million, with multiple allocations for different stakeholders.

According to the publication, seed investors will receive 6.8125%, subject to a 6-month lock-up and an 18-month linear unlock. In comparison, other investors are allocated 19.6364%, with a 6-month lock-up and a linear unlock over 12 months. The team and equity investors get 22.96%, with a 6-month lock-up and a linear unlock over 36 months.

From February 1, 2025, node rewards are allocated 20% and will be released on the same day.

The ecosystem fund is allocated 18.4%, and in accordance with the token generating event (TGE), 20% will be allocated, and it is linearly unlocked over 48 months. Moreover, the treasury/reserve and community incentive pool will receive 4%, with TGE allocated 100%. Marketing and collaborators receive 2.1911%, with TGE allocated 100%.

Smart Layer Network Advances Ecosystem Growth

Operating as a programmable blockchain-based service network, Smart Layer Network facilitates the execution of token logic that enables interactions with diverse systems and tokens in a decentralized, scalable, and secure manner. In January, its testnet went live in Alpha.

Smart Layer Network offers a range of tools, technologies, and standards designed to facilitate the widespread adoption of token front-ends. It develops the ERC-5169 token standard and TokenScript, introducing a token front-end that enhances liquidity and utility. This technology has been implemented on a large scale with Smart Cats, achieving over 22 million blockchain transactions and serving more than 500,000 users.

Recently, cryptocurrency exchange OKX included Smart Layer Network in its spot trading market. Deposits for SLN tokens are slated to open today, with the commencement of SLN/USDT spot trading scheduled for February 23. Withdrawals for SLN will be accessible starting from February 24.

With the introduction of tokenomics, Smart Layer Network highlights its commitment to enhancing its ecosystem with community contributions.

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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