TechFlow news: DeFi protocol Shell Protocol has announced the launch of its SHELL governance token on Arbitrum. Airdrop recipients can check their eligibility through the Shell application.
Once claimed, SHELL tokens can be staked to generate yield. Staked tokens grant voting rights in Shell DAO, which governs the protocol.
The total supply of SHELL tokens is 200 million, with a linear vesting schedule unlocking per block over two years following the token launch. Over the past four years, 40 million tokens have been distributed to users who contributed to the protocol. 80 million tokens are allocated to the Cowri Labs core team, Cowri Labs itself, protocol contributors, and investors in Cowri Labs such as BlueYard. Another 80 million are held in the newly established DAO treasury, fully controlled by DAO members.
Earlier report: Shell Protocol plans to launch its V3 version and introduce the SHELL token and DAO in December.
