Crypto casino Shuffle targets token airdrop for first week of March
Quick Take
- The Block confirmed key details for the token distribution plan of the crypto casino and sports betting platform Shuffle.
- SHFL’s token generation event and airdrop will occur on the same day in the first week of March, though no specific date has been set yet.
- The first airdrop will contain 10% of the total token supply, with two additional airdrops of 9% happening in the coming years.
Crypto casino and sports betting platform Shuffle intends to airdrop its SHFL token within the coming weeks.
The Block confirmed that the platform is targeting the first week of March for SHFL's token generation event and airdrop, which will happen on the same day.
Earlier today, the platform announced its tokenomics structure and airdrop plans in an official whitepaper. Shuffle will give out 28% of its total token supply across three airdrops in the next few years, with the first airdrop giving out the largest chunk at 10%.
Diving into the tokenomics
Five percent of SHFL will go to the platform's liquidity bootstrapping pool. "This LBP will be used to create the initial liquidity for SHFL on-chain," Shuffle explained in the whitepaper. "The USDC raised from the LBP will be used to seed the initial liquidity for the SHFL-USDC Pool, which will be live after the completion of the LBP."
An additional 2% will go to liquidity mining programs, 8.8% to early contributors, 25% to the team and 31.2% to Shuffle's treasury.
SHFL's maximum and total token supply will cap at 1 billion, with an initial circulating supply of 71,126,984 SHFL.
Shuffle users can use SHFL, an ERC-20 token, as a wager asset and a way to access perks, with the token having a buyback-and-burn mechanism. The platform has seen 35,000 users places 2.8 billion bets since its launch on Feb. 1, 2023.
(Corrects LBP structure.)
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