Shiden Network (SDN)

What Is Shiden Network?

Shiden Network is a multi-chain decentralized application layer on Kusama Network. Kusama Relaychain does not support smart contract functionality by design – Kusama Network needs a smart contract layer. This is where Shiden Network comes in. Shiden supports Ethereum Virtual Machine, WebAssembly, and Layer2 solutions from day one. The platform supports various applications like DeFi, NFTs and more.

Shiden Network Unique Features

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Roadmap

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Token Economy

Shiden’s native token (SDN) serves five functions:

• Dapp Staking – Dapps Staking is a scheme that allows users to stake SDN on dapps. Dapp staking allows users to earn SDN rewards but also grants dapp developers to earn rewards in proportion to their nominations.
• Network Staking – Token holders can stake SDN on the network and serve as network collators (the chain’s block producing agents)
• Fees – Users pay for network actions and transactions in SDN
• Layer-2 Development – Application developers can bond SDN to their smart contracts on Shiden to use or create a Layer-2 version of their applications
• On-chain Governance – SDN will be used to facilitate governance activity, including submitting proposals and voting on referenda

Detailed Token Metrics

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Token Distribution

Stake Technologies reserved 30% of the SDN supply for Kusama parachain auctions. It distributed 22% (15,400,000 SDN) in the first auction, which ended in July 2021. It will save the remaining 8% for the next auction. The team has allocated another 5% of the initial supply to a “Parachain Auction Reserve” that they will also use for future parachain lease offerings.

Users that participated in Astar Networks previous lockdrops also received 30% of the initial SDN supply.

The initial allocation is as follows:

• Existing PLM Holders (Lockdrop Participants) (30%) – The Shiden Network is a fork of Astar Network from block number 3,000,000; therefore, every PLM holder receive a proportional number of SDN
• Parachain Auctions (30%) – 30% is prepared for the crowdloans for Parachain Lease Offering, with 22% going to the first auction and 8% for any follow-up auctions
• Parachain Auction Reserve (5%) – Additional funds for future parachain Lease Offerings
• Protocol Development (10%) – Funds to be used for protocol developments and a grant program
• On Chain DAO (5%) – Funds for the on-chain treasury that the community will decides how to use
• Marketing (5%) – Funds to be used for marketing purposes.
• Institutional Investors (10%)
• Team (5%)

Token Release Schedule

Shiden Network uses inflation to rewards dapp stakers and network validators (i.e., collators). The exact rate of inflation depends on the number of stakers within the network and the ratio of staked tokens belonging to dapp stakers (both operators and users) and collators. With all parameters at their “ideal” values, the annual inflation rate of SDN will be around 16.6%. Under these same ideal conditions, half of these rewards will go to collators and the other half will go to dapp stakers. The dapp stakers rewards get split between “Operators” (application creators aka project teams) and stakers (users that stake their SDN tokens with a specific application).

Partners & Advisors

Team Members

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Investors

Fenbushi Capital, Hypersphere, LongHash Ventures, Subo Capital, Digital Strateges, Altonomy, AU21 Capital, IOSG Ventures, SNZ Holding, Gumi Cryptos, TRGC Digital, Binance Labs, Block Dream Fund, HashKey Capital, DFG Capital.