10% of Super Algorithmic Token (SATO) to Be Distributed Among 50k Defi Users

10% of Super Algorithmic Token (SATO) to Be Distributed Among 50k Defi Users

10% of Super Algorithmic Token (SATO) to Be Distributed Among 50k Defi Users

Advertisement

&nbsp

&nbsp

The Super Algorithmic Token (SATO), a next-generation stablecoin, is set to airdrop 500,000 coins to selected Defi users from April 5 to April 25. According to the press release on the matter, the 500,000 SATO coins will represent 10% of the entire token supply.

The team behind SATO stablecoin will distribute the tokens to crypto enthusiasts based on retroactive actions on selected decentralized financial platforms. The four selected DefI platforms that will see their communities rewarded include BADGER, DIGG, AMPL holders, and Gitcoin donors. 

Notably, a snapshot of the four selected projects was taken on March 25, whereby 50,000 unique addresses qualified for the airdrop. Each address is eligible for 10 SATO tokens, whereby the users are expected to claim them in 21-days after the launch.

The team behind the SATO token has created other means for crypto enthusiasts to earn passively. “Additionally, the SATO project offers additional earnings, through participation in the initial coin staking which started on March 16, 2021, on SwapAll and will be available on multiple platforms soon on Ethereum, Binance Smart Chain, and Huobi Eco Chain,” the company noted in the press release.

Through the airdrop to different crypto community members, the team behind SATO stablecoin intends to make the project well known to enhance global adoption. Furthermore, they are offering the next generation type of stablecoins that operate on layer 2. As a result, transactions are carried out faster and at a minimal fee.

Advertisement

&nbsp

&nbsp

Notably, SATO tokens are not pegged to any global currency or asset but operate on a mechanism of demand and supply. The project prides itself on the fastest algorithmic stablecoin that supports rebase of multiple smart chains.

In a bid to ensure transparency and credibility to its users, the SATO project has been audited by Beosin Blockchain Security. Besides, the project has been built on layer 2 technology with a simple to use application.

The SATO project seeks to solve the existing challenge with most stablecoins, particularly on transaction fees. The team is venturing into a market that has grown exponentially over the past few months. The stablecoin market has a capitalization of approximately $68.6 billion with its volume almost triple that according to metrics provided by CoinGecko.

The SATO project is aimed to steer forward the decentralized financial ecosystem at a time there is a notable increase in global crypto adoption.



DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Published at Wed, 07 Apr 2021 19:30:52 +0000

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.