Sudoswap has just announced the launch of SUDO, a native governance token with the majority reserved for holders of XMON tokens.
The decentralized NFT marketplace announced that a total of 60 million Ethereum-based SUDO tokens would be distributed to project participants.
Those who also own XMON, the utility token that powers the popular NFT project 0xmons, will receive the lion’s share (41.9%) of the SUDO drop through a lockdrop event. GAN-generated 0xmon NFT holders will also receive 1.5% of the SUDO supply.
“XMON holders will be able to lock their XMON as an indication of their commitment to participate in the governance of the sudoAMM protocol and receive SUDO.”
It’s no surprise that Sudoswap and 0xmons have a lot in common, as the latter is also working on the NFT marketplace.
The announcement today also stated that 1.5% of the initial supply would be distributed retroactively to Sudoswap liquidity providers.