Sharky, Solana's NFT Lending Protocol, Opens Airdrop Registration and Implements 12 Month Cliff Period for Team Token Distribution

Bittime - Sharky, an NFT lending protocol based on theSolana ecosystem, announced the opening of airdrop registration on the X platform. In addition, Sharky also announced a number of updates regarding their token allocation.

Latest Token Allocation

1. Team Token Distribution Delay

• Sharky added a 12-month cliff (lockup) period for team token allocations. This decision is effective immediately.
• Sharky emphasized that to date, no team tokens have been sold. The addition of this cliff period is a form of the team's commitment to fulfilling their promises through concrete actions.

2. Token Repurchase and Deflation Strategy

• Sharky plans to use some of the revenue from the circulating token supply to buy back SHARK tokens.
• The repurchased tokens may be destroyed, but there has been no definite decision yet. This strategy aims to reduce the number of tokens in circulation and potentially increase the value of SHARK tokens.

3. Token Reserve Allocation

• Sharky allocates 20% of total tokens (approximately 8 million tokens) for future development and reserves.
• These funds will be used for various purposes, such as:
  • Providing continuous rewards to protocol users
  • Supports the development of new technologies and protocol expansion
  • Talent recruitment

4. "Chums" Lending Club

• Sharky plans to start a loan club called "Chums".
• This club aims to help its members get the best information and strategies in making NFT investments and loans.

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Opportunities for Users

The opening of airdrop registration and updating of token allocation is interesting news for Sharky users. The airdrop has the potential to provide benefits to early adopters, while the token allocation update shows Sharky's commitment to the protocol's long-term growth.  

With an active development plan, Sharky has the potential to become a leader in the Solana-based NFT lending space.

Trust and Community

Sharky's steps to add a cliff period and not yet sell team tokens should be appreciated. This shows the team's commitment to building trust with the community and ensuring that their interests are aligned with those of users.

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Sharky's Future

With these initiatives, Sharky is demonstrating their long-term vision to become a leader in the Solana-based NFT lending space. The token repurchase strategy and formation of a Lending Club has the potential to increase the value of the SHARK token and attract more users to the Sharky platform.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.