TechFlow news, Layer1 blockchain Shardeum has released an airdrop update. The Shardeum Foundation plans to distribute 25.4 million SHM tokens in three phases.
Phase 1 targets early contributors (3,661,600 tokens), Phase 2 targets the incentivized testnet (3,296,500 tokens), and Phase 3 targets mainnet activities (18,441,900 tokens).
Phase 1 will distribute 3,661,600 SHM tokens. Early contributors are divided into four categories: off-chain contributors, on-chain contributors, developers, and node validators.
Shardeum stated that its token SHM is a utility token used for staking, governance, rewards, gas fees, and transaction fee burning. The maximum supply of SHM is 508 million.
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