What is Shiden Network? Learn more about the SDN . token

• Overview of Shiden Network
• Basic information about SDN Token
• Review the project Shiden Network
• Frequently asked questions about Shiden Network
• Epilogue

Overview of Shiden Network

What is Shiden Network?

Shiden Network (aka Shiden) is a Muiti-chain DApp Hub on the Kusama network that is capable of supporting various applications such as NFT & DeFi. Kusama Relaychain does not support smart contracts so Shiden Network was born with the purpose of operating as a Smart Contract. Shiden is compatible with the Ethereum Virtual Machine (EVM), WebAssembly, and Layer 2.

Purpose of the Shiden Network

Shiden Network was born to solve the problem that Kusama is facing that is that Relay Chains do not support Smart Contracts. The goal of Shiden Network is to build the leading multi-chain Smart Contract platform on the Kusama network, supporting Layer 2, EVM (Ethereum Virtual Machine) solutions. In addition, Shiden Network also acts as an R&D (Research and Development) chain for the Plasm network.

Outstanding Features

Multi-chain : Allows blockchains to interact with each other (Ethereum, Secret Network, Cosmos).

dApp Staking : Owners of SDN tokens can put them on dApps for staking.

Multi Virtual Machine : Shiden supports both EVM and WASM, EVM contracts can interact with WASM contracts through Shiden Network.

Investors

Backers of Shiden Network include many major investment funds in the world such as: Binance Labs, Long Hask Ventures, AU21 Capital, IOSG Capital...

Partner

Shiden's strategic partners are: Binance, IOSG, AU21, Polkadot, WASM and Kusama. In addition, Shiden Network is also supported by Microsoft.

Project development team

Watanabe Sota (Founder):  The founder of Shiden Network used to be a blockchain researcher. Currently, he is the youngest director at the Japan Blockchain Association. 

Shiden Network project development roadmap

Shiden Network has completed the first 2 phases of its development roadmap and is entering the 3rd phase.

Stage 1: Auction

• Token distribution
• Launch on Parathread to get ready to participate in Parachain auction
• Plan for the network's inflation rate
• Join the auction on Kusama
• Become parachain on Kusama

Phase 2: Parachain Collator

• Runtime upgrade
• Launch the batch call module
• Distribution of rewards to the participants of Kusama PLO
• Enable NPoS and collator rewards
• Launch balance transfers
• Enable smartcontract module EVM
• Launch Dapp Staking

Stage 3: Integration

• Cross-chain communication for contracts
• Integration with Zenlink
• Integration with Acala DEX
• Create a ChainSafe Ethereum Bridge

Stage 4: Administration

• On-chain governance
• Integrated Knife

Basic information about SDN Token

What is the SDN token used for?

SDN is a token of Shiden Network that is both a utility token and a governance token used as follows:

• Investors can use SDN as a transaction fee.
• SDN tokens are used as rewards for Dapps developers.
• Investors can participate in voting and contribute to the development of the project.

Token Metric

• Token Name : Shiden Token
• Ticker : SDN
• Blockchain : Updating
• Smart contract : Updating
• Total Supply : 70,000,000 SDN
• Circulating Supply : 57,221,204

Token Allocation

• Users : 30%
• Parachain Auctions : 30%
• Parachain Auction Reserve : 5%
• Protocol Development : 10%
• On-Chain DAO : 5%
• Marketing : 5%
• Eco Growth : 10%
• Team : 5%

Token Distribution

• Users : 21,000,000 SDN tokens will be used as rewards for investors who lock ETH on Astar Network smart contract.
• Parachain Auctions : 21,000,000 SDN tokens will be used by Shiden as community rewards if the project wins parachain. Shiden will use 22% for the first auction and 8% for the second auction.
• Parachain Auction Reserve : 3,500,000 SDN will be used by Shiden as a reserve for future parachain rental services.
• Protocol Development : 10% corresponding to 7,000,000 SDN will be used for protocol development and grant programs (TBA).
• On-Chain DAO : 3,500,000 SDN corresponding to 5% of the funds on the on-chain chain will be decided by the community how to use it.
• Marketing : 5% equivalent to 3,500,000 SDN will be used by Shiden for Marketing purposes.
• Eco Growth : 10% or about 7,000,000 SDN will be used by Shiden for the ecosystem growth program.
• Team : Shiden will spend 5% to encourage employees.

How to own SDN token?

You can participate in Shiden's crowdloan by locking KSM in to receive a reward of SDN tokens. In addition, you can also buy SDN tokens on exchanges such as Gate.io, Kucoin, Mex.com...

Review the project Shiden Network

Shiden Network is considered a potential project for the following two reasons. First, it's Shiden Network deployed and running on parachain. Most of the projects present on parachain are potential and quality projects. Next, the team of partners and investors in the project are all big names in the market such as Binance Labs, Long Hask Ventures, Microsoft ... However, investors also need to take the time to research and evaluate Thoroughly evaluate the project before investing. 

Frequently asked questions about Shiden Network

Here are some frequently asked questions about the Shiden Network project. Hopefully, investors with the same question can refer to the answer below. 

How to get rewards on Shiden Network?

Users can support and join Crowdloan on Shiden Network by locking KSM for a long time to receive a reward of SND. According to Shiden Network's plan, 30% of the total SND token supply will be used as rewards. 

What factors determine the amount of the bonus for the user?

The amount of bonus users receive depends on the number of KSM keys and the time to join Crowdloan (the sooner join, the more appreciated).

Epilogue

Above is all information about the Shiden Network project and the SDN token. Shiden is Astar Network's Canary Network launched on Kusama for the purpose of upgrading the system without hard fork to integrate new features or fix bugs. Besides, SDN is both a governance token and a utility token, so investors and developers can use it for many different purposes. Given what Shiden Network has to offer, it will likely be one of the most notable projects on Kusama by the end of 2021.

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