What is ShardingDAO (SHD) | What is ShardingDAO token | What is SHD token

What is ShardingDAO (SHD) | What is ShardingDAO token | What is SHD token

ShardingDAO (SHD) is an NFT decomposition synthesis protocol based on Ethereum and Binance Smart Chain. Users can securitize and fragment their NFT into ERC20 Tokens. And then, the shards will flow to the market for trade and mining. Suppose you, as the owner of a shard, want to obtain full ownership of the original NFT. In that case, you can propose a buyout and then officially obtain the ownership through decentralized governance voting. After that, all the shards will be destroyed, making you the sole owner of that NFT. What is ShardingDAO (SHD) | What is ShardingDAO token | What is SHD token

In this article, we'll discuss information about the ShardingDAO project and SHD token

Introduction

ShardingDAO is an NFT decomposition synthesis protocol based on Ethereum and Binance Smart Chain.

Users can securitize and fragment their NFT into ERC20 Tokens. And then, the shards will flow to the market for trade and mining.

Suppose you, as the owner of a shard, want to obtain full ownership of the original NFT. In that case, you can propose a buyout and then officially obtain the ownership through decentralized governance voting. After that, all the shards will be destroyed, making you the sole owner of that NFT.

Launch Plan

ShardingDAO's launch is divided into 3 stages:

Phase 1

Referral Function Launch

Rules

  • During this period, users with established referral relationships can mine with a range of cryptos. You can access the pools from here: https://app.shardingdao.com/farms-stage-one
  • With each referral relationship established, both sides become entitled to higher mining rewards. This means, for a referer, more referees always result in higher mining rewards. In the meanwhile, uninvited users will be automatically denied access to the Pools.
  • In the meanwhile, uninvited users will be automatically denied access. You can find a public referral link in our Discord group: https://discord.com/invite/Y4YsGzjhbH

For more details, Please refer to Referral mechanism

Mining Phase 1: Mining with cryptos

We will be distributing 1,500,000 SHD in total (80% for mining users and 20% for developerDAO) from 11 am on March 23nd, 2021 (SGT) to April 12th, 2021 (SGT).

You can stake or collect at any time. But the rewards can only be harvested in the last 7 days and after.

Each token has an upper limit on collateral. If a user’s collateral is equal to or exceeds the upper limit, then it will deduct a fee of 20% of the profit from mining, and the fee will go into the Marketing Fund for promotional purposes.

If the vaults is used for mining, ShardingDAO will deduct a fee of 20%, which will go into the Marketing Fund for promotional purposes.

Exclusive AirDrop

Exclusive Airdrop: How’s the 800 addresses selected?

As an upcoming NFT fragmentation protocol and a marketplace for the shards, Sharding DAO has picked the 600 most active addresses in trading volume, primarily on Niftgatewaym, Rarible, Openseas, Superrare, with the rest of the top 200 address on Snapshot that has the most votes will each receive 500SHD.

Exclusive Airdrop: Timeline

  • From now on to 11 am on April 6th, 2021 (SGT), you can check whether or not you’ve become eligible for the airdrop but will not be able to claim it during this period.
  • If you are one of the 800, you can claim your airdrop from 11 am on April 6th, 2021 (SGT) to July 15th, 2021 (SGT).
  • Please note that you can no longer claim the airdrop after that and unclaimed $SHD will be taken back.
Phase 2

Fragmentation Function Release

  • NFT owners can fragment NFTs into shards to obtain revenue, etc.
Phase 3

Mining Phase 2: Mining with LP Tokens

  • Shard and LP Tokens can be used for mining.
  • Users who have established a referral relationship can use LP Tokens for mining. Users who have not established a referral relationship need to establish a referral relationship before they can mine.

For more details, Please refer to $SHD Distribution Mechanism of Mining

Token Distribution: $SHD

Token Distribution:

As ShardingDAO's governance token, $SHD will be distributed as below:

Liquidity Mining (56%): distributed to the public through liquidity mining.

Marketing & Airdrop (13.33%): reserved for Marketing and Airdrop to incentivize users.

Investors (13.33%): reserved for future investors.

Developer DAO (17.34%): reserved for developers, released along with protocol liquidity mining.

Mining: 16,800,000 - 56%

Marketing Mining & AirDrop: 4,000,000 - 13.33%

Investors: 4,000,000 - 13.33%

Developer DAO: 5,200,000 - 17.34%

Total: 30,000,000 - 100%

$SHD Distribution Mechanism of Mining:

  • Total Token Supply: 21 million (80% for Mining & 20% for Team)
  • Distribution Rules: the 80% tokens will be generated through liquidity mining and sent to the Developer DAO Fund for community governance.
  • Halving Plan: There will be a halving every 4 years (6496 blocks generated in one day)

Configure RPC network on Metamask

Binance Eco Chain (BSC)

Step 1: Click "Ethereum Mainnet" on the top.

Step 2: Select "Custom RPC" .

Step 3: Custom RPC network setting:

  • Network name
Binance Smart Chain  // you can set a name you like
  • New RPC URL
https://bsc-dataseed.binance.org/
  • Chain ID
0x38
  • Symbol (optional)
BNB
  • Block explorer URL (optional)
https://www.bscscan.com

Here is an example:

Then click "Save".

Step 4: Switch wallet network

Once you finish all the settings above, you need to switch your wallet to BSC mainnet when using any DeFi product or Dapp on BSC chain:

Click "Ethereum Mainnet" on the top of the wallet page, and select the RPC network you have just set.

How and Where to Buy ShardingDAO (SHD)?

SHD is now live on the Ethereum mainnet and Binance mainnet The token address for SHD is 0x5845cd0205b5d43af695412a79cf7c1aeddb060f. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH and BNB in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet

If you don't have a Metamask wallet, read this article and follow the steps

What is Metamask wallet | How to Create a wallet and Use

Next step

Connect Metamask wallet to Uniswap Decentralized Exchange and Buy SHD token

Contract: 0x5845cd0205b5d43af695412a79cf7c1aeddb060f

Read more: What is Uniswap | Beginner's Guide on How to Use Uniswap

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once SHD gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com  ☞ https://www.bittrex.com  ☞ https://www.poloniex.com  ☞ https://www.bitfinex.com  ☞ https://www.huobi.com  ☞ https://www.mxc.ai  ☞ https://www.probit.com  ☞ https://www.gate.io  ☞ https://www.coinbase.com

Find more information SHD

WebsiteExplorerExplorer 2Source CodeSocial ChannelSocial Channel 2Social Channel 3Message BoardMessage Board 2DocumentationCoinmarketcap

🔺DISCLAIMER: The Information in the post is my OPINION and not financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you!

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