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Self Chain founder: Increasing Token supply aims to strengthen network security

2024-09-03 05:29:28

ATOM-4.51%

Odaily Planet Daily News According to the recent community concerns about the 'increase in Token supply', Ravindra Kumar, the founder and CEO of Self Chain, responded to the doubts and fear, uncertainty and doubt (FUD) faced by the project after migrating from FRONT to SLF on the X platform.
Kumar emphasized that Self Chain is not a new team taking over, but the original team has undergone strategic reshaping, expanding from the Wallet project to a Layer 1 blockchain based on Cosmos-SDK. Regarding the increase in token supply, Kumar explained the allocation of the total supply of 360 million: 36 million permanently locked for the foundation's node, 90 million migrated from FRONT to SLF, 10 million allocated to new investors as validators (18-month lock-up period), 36 million allocated to equity investors (36-month lock-up period), 30 million allocated to the core team (6-year lock-up period), and 68 million for the ecosystem (released 1.5 million per month). Kumar stated that increasing the supply aims to enhance network security, prevent 51% Attack, and attract more investors and validators to participate.

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GateUser-4181e832

· 2024-09-22 07:26

bull rebounding speed 🐂

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