TL;DR
- SoSoValue will distribute 49 million SOSO tokens, representing 4.9% of its total supply, in its first airdrop season.
- The event will consist of three parts: Bybit’s Launchpool, a Proof of Work (PoW) program, and Proof of Stake (PoS) rewards.
- The token launch will take place on Ethereum, with Bybit as the first exchange to list the token.
The cryptocurrency market data platform SoSoValue, known for tracking daily fund flows in ETFs, has announced its first airdrop event, during which it will distribute a total of 49 million SOSO tokens. This event marks the official launch of SoSoValue’s token, which will be available on the Ethereum blockchain starting next week. A total of 4.9% of the 1 billion tokens supply will be allocated to this first season, according to Jessie Lo, co-founder of SoSoValue.
Airdrop Details and Distribution Process
The SoSoValue airdrop will unfold in three main stages. The first phase involves distributing 4 million tokens through the Launchpool feature on the Bybit exchange. This process will utilize 17% of the funds allocated by the SoSoValue foundation and is designed to attract users and drive initial adoption.
The second stage focuses on a Proof of Work (PoW) program, which will allocate 15 million tokens. The snapshot for this phase has already been taken, determining eligible users. A significant advantage of this stage is that the tokens will have no vesting period, allowing participants to liquidate them immediately after the launch.
The third phase includes Proof of Stake (PoS) rewards, where a total of 30 million tokens will be distributed over 31 days, from January 25 to February 25. To participate, users will need to acquire SoSoValue’s index tokens, earn experience points (EXP), and meet specific eligibility criteria. This stage aims to foster deeper engagement with the platform’s ecosystem.
Additionally, SoSoValue plans future airdrops using tokens reserved for ecosystem development, ensuring continuous benefits for its community. While details are yet to be disclosed, the company emphasizes that these distributions will focus on strengthening its user base and market position.
SoSoValue and Its Exponential Growth
This airdrop event comes after a successful Series A funding round, where SoSoValue raised $15 million at a valuation of $200 million, marking a 300% increase from its post-seed valuation in 2023. Bybit, as the first platform to list SOSO, reinforces its commitment to supporting the token’s growth.
With this move, SoSoValue not only aims to capture the attention of its community but also to establish itself as a key player in the industry, standing out for its innovation and user-focused rewards approach.
