SoSoValue set to airdrop 49 million tokens in first season

The Block

SoSoValue, a crypto market data provider best known for its ETF data tracking daily inflows and outflows, is set to airdrop a total of 49 million SOSO tokens for the first season.

This allocation represents 4.9% of the total supply of 1 billion tokens, SoSoValue co-founder Jessie Lo told The Block in an interview. The majority of the airdrop comes from the platform's 30% ecosystem allocation, Lo said.

SoSoValue token allocation details; Source: SoSoValue

The airdrop is divided into three parts: 4 million SOSO tokens via crypto exchange Bybit's Launchpool platform; 15 million tokens under the proof of work (PoW) program, distributed at the token generation event; and 30 million tokens for proof of stake (PoS) rewards during Season 1, scheduled from Jan. 25 to Feb. 25.

"The Bybit Launchpool allocation comes from the foundation's 17% share, while the PoW and PoS distributions are drawn from the ecosystem allocation," Lo said.

SoSoValue token launch details

SoSoValue will launch its token next week on Ethereum, with Bybit as the first exchange to exclusively list the token, Lo said — adding that additional exchange listings will follow.

The snapshot for the PoW program, which allocates 15 million tokens, has already been taken today, Lo said. These tokens have no vesting period, meaning they can be liquidated as soon as the token is launched, she added.

The PoS portion of the airdrop, totaling 30 million tokens, will take place after the token launch and will be distributed over a 31-day period, Lo said. The PoS rewards are tied to SoSoValue's recently launched index tokens, and users will need to purchase these tokens, earn experience points (EXP) and meet eligibility criteria to participate in the airdrop.

Regarding future airdrops from the remaining 255 million tokens allocated to the ecosystem pie, Lo said that further details will be announced at a later date. However, she emphasized that all future distributions are intended to benefit the SoSoValue community.

SoSoValue's token launch details follow its recent $15 million Series A funding round at a $200 million valuation, which reflects the platform's fully diluted token valuation, as The Block reported last week. This marks a 300% increase from its $50 million post-seed valuation in June last year.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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SoSoValue set to airdrop 49 million tokens in first season

Divulgación de riesgos