🐟SHELL Token

Shell token distribution and airdrop

As always, beware of scams. Bookmark the official app and use the app, the Discord announcements channel, and the Shell Protocol Twitter as your cross-referenced sources of truth. Of those three, always confirm across at least two that something is real. Pause and tag a skindiver on Discord when in doubt.

Overview

SHELL is the token governing Shell Protocol. SHELL token holders collectively control the Shell DAO via voting.

The token name and ticker $SHELL was decided by a community vote.

Why does Shell even need a token? The token is necessary for the long-term sustainable development of the protocol.

Building Shell Protocol and upgrading it in the future costs money—people don’t work for free, after all. Unless there is some way to generate value, the protocol won’t be maintained. Many public resources have fallen into this trap, especially in open-source technology.

Because SHELL token holders are simultaneously the beneficiaries of Shell Protocol’s revenue, they are incentivized to reinvest in the protocol. With sustainable development of the product and ecosystem, token holders can grow those revenues in the future.

Without you, the future SHELL token holders overseeing its development, Shell Protocol won’t be sustainable in the long run.

SHELL Distribution

At the time of the token generation event (TGE), 200 million Shell tokens were created. These were apportioned as follows:

• 80M - DAO Treasury

• 70M - Cowri Labs

• 40M - Early Community

• 10M - Shell Foundation

The Shell DAO has the power to mint more tokens beyond the 200 million supply apportioned above, but that would require a governance vote.

Airdrop

Providing liquidity to Shell v1 (Season 0) or earning Shell Points during Seasons 1-3 made users eligible for participating in the SHELL airdrop. This was decided by a Toucan vote.