The DeFi platform, Shell Protocol, has recently unveiled the second part of its governance token, $SHELL’s tokenomics. Though the exact launch date is unknown, it is expected to be later in 2023.
The $SHELL token has an initial allocation of 200 million, where 80 million will be designated for investors, core teams, and development companies. Additionally, 40 million will be used for initial airdrops, 50 million for TGE incentive campaigns, and 30 million will be allocated to the DAO Treasury. Any additional tokens minted by the Shell DAO will require governing approval.
Furthermore, the quota for all wrapped tokens and standard Proteus pools will be lifted in the next two weeks. This means that anyone with a wallet will be able to earn Shell Points without restriction by wrapping tokens and/or becoming an LP. This also marks the start of a brand new Shell Points season.
Once the new season begins, all Shell Points will be reset to zero with all points earned in the previous season being converted into $CRAB tokens. These tokens cannot be bought, sold, or traded. Upon the release of $SHELL, $CRAB tokens will become 1:1 redeemable for $SHELL.
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