PANews reported on November 21 that the Bitcoin financial public chain Side Protocol announced the economic model of the $SIDE token. The total supply of $SIDE tokens is 1 billion, and its functions include the accumulation of protocol revenue value, payment of transaction fees, network security pledge, and decentralized governance on the chain. Token distribution includes: 20% ecological reserve, 18% team, 17% community treasury, 15% public offering, 13% private placement, 7% liquidity, and 10% airdropped to eligible active Bitcoin users, NFT communities, Cosmos communities, and testnet participants. $SIDE will first be issued in the SPL standard on Solana, and the mainnet is expected to be launched in January 2025, when it can be converted into mainnet tokens and participate in pledge and governance.
Side Protocol is the first Layer 1 blockchain that is fully compatible with Bitcoin, providing decentralized self-custodial financial infrastructure aimed at building a global economy centered on Bitcoin.
