Selenium Protocol is an emerging project in the Terra Classic ($LUNC) ecosystem that seeks to innovate in the DeFi space by creating a platform for synthetic assets. Below are key aspects regarding its origin and tokenomics:
Project Origin
Start Date: Selenium Protocol was conceptualized and developed throughout 2023, with the goal of providing Terra Classic users with a robust platform to interact with synthetic assets. In December 2024, the team announced the launch of its testnet, marking a significant milestone in its roadmap towards full implementation.
Tokenomics of the SLM Token
Token Name: SLM
Total Supply: 100,000,000 SLM
Token Distribution:
Team and Development: 20% (20,000,000 SLM)
Community Incentives: 35% (35,000,000 SELE)
Reserves and Treasury: 15% (15,000,000 SLM)
Private and Public Sale: 25% (25,000,000 SLM)
Advisors and Strategic Partners: 5% (5,000,000 SEL
Functions of the $SLM Token:
Governance: $SLM holders can participate in key decisions regarding the development and future direction of the protocol, ensuring decentralized and community governance.
Incentives and Rewards: $SLM is used to reward users who provide liquidity, participate in staking, and actively use the platform, encouraging participation and growth of the ecosystem.
Fees and Charges: The token can be used to pay fees within the platform, offering discounts or additional benefits to holders.
Stability and Value Mechanisms
Token Burn: A portion of the fees generated on the platform is allocated to the burning of $SLM, reducing the circulating supply and potentially increasing its value over time.
Staking and Rewards: Users can stake $SLM to earn additional rewards, incentivizing token retention and contributing to the stability of the ecosystem.
Final Considerations
Selenium Protocol, with its token $SLM, seeks to establish itself as a pillar in the Terra Classic DeFi ecosystem, providing users with advanced tools to interact with synthetic assets and participate in truly decentralized governance.
The information provided is based on data available until December 2024.
