Sylo (SYLO) officially debuted on BitMart as of August 19, 2024. With a total supply of 10 billion tokens, 2.43 billion are currently in circulation.
The Sylo Token distribution includes several key allocations. Originally published in 2018, the total supply is allocated as follows: 10% for platform incentivization, 25% for protocol development, 20% and 12.5% for token generating events, 10% for the team and developers, and 22.5% for DN 3010 Ltd and advisors. This distribution supports continued growth and innovation within the Sylo Network.
The Sylo Token is fundamental to the Sylo Ecosystem. It functions as a utility token to cover the essential costs of running a Sylo Node, including human time, hardware resources, and electricity. Its unique 'layer two' probabilistic micro-payment system facilitates these transactions. Sylo Tokens also gauge participation levels within the Sylo Network, with the amount staked determining a node’s workload and earnings. Beyond infrastructure, the token serves as the ecosystem’s native currency, used for user payments, Smart Wallet upgrades, dApp transactions, and real-world purchases.
