$SZO (ShuttleOne) token: is a utility token for ShuttleOne’s metachain cross-chain tools and ecosystem.
Developers and users of the Metachain cross-chain solutions are required to hold $SZO as gas and development fees. In return, developers and users can use $SZO for all cross-chain transactions, saving protocol tokens in their wallets as investment assets.
$SZO is rewarded to liquidity providers who contribute to the ShuttleOne ecosystem, providing liquidity that facilitates cross-chain transactions and applications, such as Plug N Play DeFi - a multichain DeFi solution servicing real-world businesses with crypto liquidity.
At a later date, when the network is secured, ShuttleOne will code in a burn mechanism for the tokens to be burnt.
Token Supply - 230,000,000 SZO
Token Type - ERC20
Inflation - 5% a year or 11.5mil SZO per year.
How can I get SZO token?
Now that you are interested and want to get the token, here are 2 ways to get SZO token.
1. Provide liquidity into the ShuttleOne.Network with your stablecoin (DAI, USDC, USDT) and earn SZO as a reward for supporting the protocol.
2. Buy SZO off exchanges that are listing the token.
Usage of ShuttleOne.Network
The primary use case of the SZO token is access payment to utilize the products and services offered by the ShuttleOne.Network to our users.
Merchants who taps on the ShuttleOne.Network of products, for services such as onchain risk management, credit for trade financing, kyb and aml regulatory compliance and remittance pays a fee set by the network in SZO.
Token holders are incentivised by holding onto the SZO token as more SZO is burnt whenever there is a transaction done via the network.
Estimated Burn vs Circulation According to Network Usage
Liquidity suppliers to the ShuttleOne.Network enjoys a rate of return per second in SZO that is shared to liquidty providers paid out per block. The rate per 30 days is as follows:
Should liquidity suppliers wish to support the network for longer terms the rewards grows exponentially of the above rewards to the power of 1.2.