Shell Protocol Announces Tokenomics, 40 Million $SHELL to Be Used for Airdrop

DeFi platform Shell Protocol released the second part of tokenomics of its governance token $SHELL. $SHELL is expected to be launched later in 2023, but no exact date is available at this time.

The initial allocation of $SHELL is 200 million, 80 million will be allocated to investors, core teams and development companies, 40 million will be used for initial airdrops, 50 million will be used for TGE incentive campaigns, and 30 million will be allocated to the DAO Treasury. Shell DAO will have the right to mint additional tokens, but will require a governance vote to approve.

In addition, quota will be completely lifted for all wrapped tokens and standard Proteus pools in the next two weeks. This means that anyone with a wallet will be able to earn Shell Points without restriction by wrapping tokens and/or becoming an LP. This also marks the start of a brand new Shell Points season.

When the new season begins, everyone's Shell Points will be reset to zero. All Shell points earned in the previous season will be converted into $CRAB, and these tokens cannot be bought, sold or traded. When $SHELL is released, $CRAB will become 1:1 redeemable for $SHELL.