Shell Protocol announces token economics: the initial allocation is 200 million tokens, with 40 million tokens designated for the initial airdrop

ChainCatcher news, the DeFi platform Shell Protocol announced its governance token SHELL economics. It is reported that the initial allocation of SHELL is 200 million, with 80 million allocated to investors, the core team, and development companies, 40 million for the initial airdrop, 50 million for incentive activities after token generation, and 30 million allocated to the DAO treasury. The Shell DAO will have the authority to mint more tokens upon receiving a voting approval. SHELL is planned to launch later in 2023, with no exact date yet. The legal structure of the token issuance and adjustments to the Shell DAO structure and governance tools are scheduled to be completed in the third quarter of this year.

In addition, at the start of the new Shell points season, everyone's Shell points will reset to zero, and all Shell points earned in the previous season will be converted to CRAB tokens, which cannot be purchased, sold, or traded temporarily. When SHELL is finally released, CRAB will be redeemable for SHELL at a 1:1 ratio, allowing for more decentralized governance with the community before SHELL is generated. (source link)