This is the SO-ANTICIPATED day we have all been waiting for. SO-COL’s token announcement! And we called it none other than SIMP, dedicated to our early supporters of the project and IreneDAO. Read on to discover our token utilities and tokenomics.
We are extremely proud to announce that SO-COL’s SIMP is going to be available on KuCoin. Trading begins 10:00 UTC/ 18:00 GMT+8 on 19 January 2023. Supported trading pair is SIMP/USDT.
Details
- Deposits: Effective immediately (Supported network: ERC20)
- Trading: 19 January 2023 10:00 UTC/ 18:00 GMT+8
- Withdrawals: 22 January 2023 10:00 UTC/ 18:00 GMT+8
Summary
- Initial Total Supply: 1,000,000,000 SIMP
- Circulating Supply: 49,000,000 SIMP
- Market cap: $1,470,000
- Issue date: 19/01/2023
- Issue price: $0.03
Here are our current and upcoming token utilities.
Platform Staking
No threshold staking allows everyone to participate. Each staking period is 3 months long, and you can unlock more SIMP tokens at the end of each staking period calculated at a flat rate for each period.
You can unlock 50% of your SIMP tokens at the end of each period (EOP), and the remaining 50% unlocked after 30 days.
Stay tuned for our staking feature to find out what more you can get from platform staking.
Start staking and get ready with your SIMP Tokens for the upcoming Token Utilities!
Upcoming Token Utilities
Stake to unlock access
As SO-COL continues to develop more features of its platform, $SIMP tokens function as a loyalty membership point which can be staked to test and unlock additional features for the users and their communities, such as live stream, increasing the number of people in the chat room, special filters and/or skins in the user interface.
Participate in activities and airdrop
All $SIMP token holders will be able to take part in platform activities, for example participating in marketing campaigns to earn airdrops of $SIMP or other tokens. The platform will allocate available resources to improve the platform ecosystem and to promote the creator economy, including providing incentives for community members based on their participation levels.
Cross-community partnerships and rewards
All token holders will be able to take part in platform activities and airdrops from community partners. The beauty of SO-COL platform is for cross-community sharing, like how we regularly do collab AMAs. Gamefi communities can airdrop in-game collectables to each other communities for both parties to grow together, and influencers can partner to do a joint community activity with their pooled resources. $SIMP allows holders to enjoy all the SO-COL ecosystem perks from communities on our platform by taking part in these partnership activities.
Community Staking
SO-COL is a decentralised platform for the creator economy. Every creator can own its community space on SO-COL by creating an NFT. The users could stake their $SIMP tokens in their communities to support the creator. Communities with higher number of $SIMPs staked will go higher on the ranking board, and will increase exposure for the creators and the communities as a whole. You can eventually unlock more community features and functionalities, and higher levels will get access to more premium features. Community staking will be in levels and higher levels will entitle you to more fun activities and higher rewards from the community.
Platform Transaction
The tokens can be used to reduce transaction fees. The current transaction fee is 2.5% of all transactions. If the user is transacting with the token, the transaction fee will be lowered to 2%.
Platform Governance*
To promote decentralised community governance for the platform, $SIMP allows users to partake in proposals on platform parameters and community decisions. Holders will be able to vote for upcoming features for SO-COL, and also vote for creator’s decisions, such as which charity to do a fundraising for or what activities or premium collectables to launch.
SO-COL Tokenomics
About SO-COL
SO-COL is a community management platform that helps creators and brands engage with their audience through NFT gated communities. Our platform is for all community leaders, including influencers, musicians, artists, instructors and interest groups.
SO-COL also provides white label services for brands who want to provide NFTs and new offerings to their customers. SO-COL works with partners in consumer tech, F&B, entertainment and more.
*The right to vote is restricted solely to voting on features of the SO-COL platform; it does not entitle $SIMP holders to vote on the operation and management of the SOCOL group of companies, or their assets or the disposition of such assets to token holders, or select the board of directors or similar bodies of these entities, or determine the development direction of these entities, nor does $SIMP constitute any equity interest in any of these entities or any collective investment scheme; the arrangement is not intended to be any form of joint venture or partnership. After governance launch there will be no individual or corporate entity or other active promoter, sponsor, or group or affiliated party that maintains sole control over the SO-COL platform.
