Superalgos Token
Superalgos Launches The Superalgos (SA) Token and Starts Distribution Among Contributors
The Superalgos token (SA), a BEP20 token on Binance Smart Chain has been issued and distribution among contributors has started!
We are thrilled to announce that the Superalgos token is out and distribution procedures have started! As explained on the website, the Superalgos (SA) token is distributed among contributors!
We expect the incentive scheme will accelerate the development at all levels, both on the product side of things as well as the marketing and business flanks.
If you are using Superalgos but are not actively involved with the project yet, this is the perfect time to start contributing! Both the software and the project will grow faster and stronger if the user base is invested in the collective business!
Distribution of Past Releases
As explained on the website, the distribution is done on a per-release basis. That is, each release is assigned a number of tokens from the yearly budget and the tokens are distributed among the people/entities contributing to each release.
At the date of publishing, the project has completed ten releases, as registered on the Project Status page: the MVP of October 2018, Superalgos Alpha of August 2019, and eight Superalgos Beta releases.
It is the tokens corresponding to the above releases that are being distributed at this point.
The tokens corresponding to future releases shall be distributed after each release gets to the master branch of the Superalgos repository.
About the Superalgos (SA) Token
The Superalgos (SA) token is a BEP20 token on the Binance Smart Chain network. The project issued 500 million tokens in total and the full amount was transferred to the treasury account.
The remaining billion tokens from the 1.5 billion cap will be issued at a later stage, potentially on different platforms.
You may learn more on the Superalgos (SA) token page on the website, and browse the contract, the token tracker, and the treasury account on BscScan.
Set Up the Superalgos (SA) Token in Trust Wallet
We crafted a quick tutorial on how to set up the Superalgos (SA) token in Trust Wallet to make things easier for the less crypto-savvy users.
Needless to say, you may use any other wallet that supports the BSC network.
ERRATA
The original announcement stated that the Superalgos Token (SA) was an Ethereum-based ERC-20 Token and that one and a half billion tokens (1,500,000 SA) had been issued.
The original plan was changed due to Force Majeur causes:
“The Superalgos ERC-20 Token on Ethereum is abandoned due to usability issues related to network fees.
After launching the ERC-20 Token on Ethereum and before starting distribution, project leaders came to realize how grave the situation with Ethereum fees is at this point. Distributing the tokens corresponding to the first ten releases would have cost thousands of dollars in fees.
It took a while to research the landscape for alternatives, and the decision was made to move to the Binance Smart Chain and start from a clean slate. The new token is therefore a BEP-20 token called Superalgos (SA).
Given the challenges all smart contract platforms face as they evolve, we have decided to issue one-third of the tokens in the Binance Smart Chain and reserve the remaining two-thirds to be deployed at a later time, potentially on different platforms.”
