Sudoswap, a decentralized NFT marketplace, announced a new token on Friday to help transition the digital marketplace for crypto collectibles and non-fungible tokens (NFTs) to a decentralized autonomous organization.

Typically, a decentralized autonomous organization is an entity without central leadership: it is a structure in which a community of users who have signed a contract with each other to make collective business decisions.

According to the Sudoswap team, the new Ethereum airdrop token called the SUDO token will be used to decentralize the governance of the market, reward its active users, and raise awareness of its native tokens.

The team said it is decentralizing the protocol to its community, something that typically involves a distributed governance token to decentralize control of a blockchain project to user communities.

The Sudoswap team said that the total supply of SUDO tokens will be 60 million, part of which will be distributed as an airdrop to its early contributors to the NFT market project, as well as to XMON token holders. Sudoswap has a government token, this token is called XMON.

According to the report, the Sudoswap team has allocated the 60 million SUDO tokens as gifts to be distributed to various categories of its users based on certain criteria.

Most of the SUDO tokens will go to users who lock Sudoswap’s governance token, XMON, previously founded by the Sudoswap team.

According to the distribution details, 25.12 million SUDO tokens, or 41.9% of the Ether airdrop token supply, will be distributed among XMON token holders who lock their XMON in smart contracts to receive the airdrop. XMON token holders are expected to lock their funds for three months, after which they can withdraw the tokens and get their rewards.

Those who hold 0xmons, a utility token from the Sudoswap NFT collections, will receive a 1.5% supply, or 900,000 SUDO tokens, the company said.

Sudoswap further stated that their Liquidity Providers (LPs), which are users who have deposited NFTs and Ether into their pools, will receive a supply of 1.5% SUDO tokens divided equally among themselves.

The company also allocated a supply of 15% SUDO tokens or 9 million SUDO tokens for their initial team members.

The firm also awarded 15% of SUDO tokens to team members at SudoRandom Labs, the core development company working on the Sudoswap NFT project.

Lastly, Sudoswap allocated 25.1% or 15.08 million tokens to their project treasury. Community members will be in charge of overseeing funds for growth and expansion activities.

The company will provide more information on how users can unlock and claim their SUDO tokens. That will depend on a government vote at a future date.

Launched in July this year, Sudoswap is a fast-growing decentralized marketplace offering trades to and from Ethereum NFTs.

Sudoswap follows a trend of airdrops launched by multiple crypto projects. Recently, other projects, including Optimism, CowSwap, Connext, and Hop Bridge, launched their airdrops.

As reported by Blockchain.News, a crypto airdrop is a marketing tactic that allows developers of a specific blockchain project (such as the protocols mentioned above) to send free tokens to users. Crypto projects typically use this strategy to promote themselves before an official launch and also to raise awareness about their non-fungible token (NFT) or cryptocurrency collection.

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