The Sophon Token Generation Event (TGE) is finally happening, along with a massive airdrop ! In this article, I’m going to tell you everything you need to know before the launch of $SOPH.
Token Launch
After months of waiting, the launch of $SOPH is finally here! The TGE is scheduled for May 28th at 1 PM UTC.
- Ticker: $SOPH
- Token Standard: ERC-20
- Total Supply: 10 billion ($10,000,000,000)
The official list of exchanges has not yet been announced, but likely candidates include OKX, Binance Futures, Alpha, BingX, and more. I’ll make a Twitter post once Sophon releases the official announcement.
$SOPH Tokenomics
The initial circulating supply will be 2.5 billion tokens (25% of the total supply), with the full supply being emitted over 5 years.
At TGE, only the initial airdrop (9%), part of the ecosystem reserve, and node rewards will be in circulation.
Tokenomics is one of the most important aspects to understand before investing in any project. As seen above, 57% of the total supply is allocated to the community, which is quite generous compared to other projects.
This is important because it affects selling pressure and at some point, team members and investors will want to sell their tokens.
Fortunately, investors and team members are locked from selling for 1 year after the TGE. Until then, selling pressure will mostly come from node rewards, as some node owners may sell to cover operational costs.
Utility of $SOPH
Utility is another key factor. If a token has no real use, there won’t be much buying pressure.
Unlike most Layer 2 tokens, $SOPH is used to pay gas fees and for staking giving it real utility within the Sophon ecosystem.
The $SOPH Airdrop
If you’ve been following me, you know about Sophon and their airdrop campaign :
- 6% was allocated to those who deposited into Sophon
- 3% was distributed based on other criteria
You can verify your airdrop allocation now at claim.sophon.xyz.
For me this airdrop is one of the fairest in the space. Active community members were hand-picked, and the overall sentiment after the airdrop checker went live was very positive.
People who simply bought nodes or showed little interest in the project were left out. Meanwhile, Sophon users, active members of the Discord and Telegram, zkSync power users, and holders of select NFT collections received allocations.
This airdrop struck a great balance between rewarding the core community and inviting new users to discover Sophon.
Pre-Market Price
Right now, we can only speculate on $SOPH’s price at launch. However, platforms like Whales Market allow buyers and sellers to agree on a price pre-TGE.
Source : https://pro.whales.market/pre/Ethereum/SOPH
At the time of writing, the pre-market price is $0.13 per $SOPH, giving it a market cap of $325 million (2.5B x $0.13).
However, it’s important to note that the trading volume is very low (around $14K), so this price isn’t necessarily representative of where things will stand at launch.
Sophon Launch Details : https://blog.sophon.xyz/soph-token-airdrop/
Sophon Discord : https://discord.gg/wqaPjKKUrw
As always, thank you for reading !
Hyperliquid (4% fees discount) : https://app.hyperliquid.xyz/join/ASTROBOY13
My favorite Crypto Faucet: Cointiply (referral)
Read exclusive articles on publish0x, and if you want to support me for free, you can sign in with this link
Disclaimer: This is not financial advice, you need to do your own research !
