The Sudoswap NFT marketplace has unveiled the SUDO and XMON tokens and begun distributing them to holders of the 0xmon collection and to early liquidity providers.
$SUDO is now live >s< the $SUDO lockdrop and airdrop can now be accessed at https://t.co/lCBdBWMneI $SUDO holders can start participating in governance using frontends like https://t.co/pq7U8kXpuo
— sudoswap (@sudoswap) January 30, 2023
SUDO is non-transferable by design. However, the community can vote for such an option.
SUDO governs the sudoAMM automatic market maker via the OpenZeppelin Governor governance module.
Token holders can also vote on:
- changes to the fee size;
- adding new routers;
- a whitelist of external contracts;
- adding new bonding curves for tokens.
Addresses delegating a minimum of 300,000 SUDO can create on-network proposals for the governance module.
Three days after the vote, proposals that gather at least 2.4 million SUDO and a majority of votes in their favour may be enacted.
To signal their intent to participate in sudoAMM governance, XMON token holders may lock them for up to one month.
Going forward, participants will receive 10,000 SUDO for each 1 XMON.
Sudoswap aims to address the problem of other NFT marketplaces’ inability to instantly sell tokens. Sudoswap’s technology is a model based on an automatic market maker.
Earlier in November 2022, the team behind the decentralised exchange Uniswap launched its own NFT aggregator. Users were able to trade non-fungible tokens from leading platforms such as OpenSea, X2Y2, Sudoswap and LooksRare.