- Ryoshi is set to launch its governance token, focusing on “decentralization and active participation” in network governance.
- The project envisions collaborating with the Shib community and the wider adoption of SHIB tokens.
- While the total supply is 200,000,000 tokens, the FDV is valued at $12.5 million.
Ryoshi, the Shiba Inu-centric Layer 2 project, has set to launch its governance token focusing on “decentralization and active participation” in network governance. While Ryoshi adopts SHIB as its native gas token, the project envisions the wider and global adoption of SHIB tokens.
Shiba Inu’s Layer 2 blockchain recently shared an X post, announcing the crucial development in the ecosystem. As per the tweet, the token launch aims to bootstrap “early adopters of the network and gain organic support from within the Shiba Inu community” ahead of the chain’s launch.
With a total supply of 200,000,000 governance tokens, Ryoshi has provided a clear picture of the tokenomics breakdown. The estimated valuation of the market cap, or the fully diluted valuation (FDV), stands at $12.5 million. Out of the total supply, the tokens will be distributed among the ecosystem, the core team, the foundation, and many other sectors.
According to the details provided, the ecosystem will receive 60,000,000 tokens, constituting 30% of the supply. While the foundation is scheduled with 50,000,000 tokens (25%), the core team boasts 20,000,000 tokens (10%). Meanwhile, the remaining tokens will be unlocked for market making, liquidity, and private liquidity raises.
The platform assured that the Ryoshi token holders could participate in proposals, vote on upgrades, and take part in key ecosystem decisions. They further added,
Ryoshi tokens are at the forefront of the most powerful ecosystem that SHIB holders have ever been able to access, aiming to bring total global adoption to SHIB. Through our network utilizing $SHIB as gas, SHIB holders will finally be able to access all the bells and whistles of the current web3 landscape.
As per their official statement, Ryoshi’s notable feature is their “commitment to transparency.” As the blockchain ecosystem prioritizes its community, Ryoshi positions itself as the “quintessential solution for the Shib Army.”
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