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Self Chain founder: Increasing token supply aims to strengthen cyber security

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2024-09-03 13:39:11
On September 3rd, in response to the recent community concern about the "increase in token supply", Self Chain founder and CEO Ravindra Kumar posted on the X platform in response to the questions and FUD faced by the project after migrating from FRONT to SLF.
Kumar emphasized that Self Chain is not a new team taking over, but the original team has undergone a strategic reinvention, expanding from a wallet project to a Layer1 blockchain based on Cosmos-SDK. Regarding the increase in token supply, Kumar explained the allocation of 360 million total supply: 36 million permanently locked for foundation nodes, 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), 68 million for the ecosystem (monthly release 1.50 million). Kumar said the increase in supply is designed to strengthen cyber security, protect against 51% attacks, and attract more investors and validators to participate.