there will be two tokens: $SHELL and $CRAB.
$CRAB represents the right to receive $SHELL in the future in a 1:1 ratio.
$CRAB cannot be transferred from the wallet: that is, it cannot be physically sold or bought. Only branded
$CRAB is branded for Shell Points.
Points are gained in seasons for activities such as providing liquidity.
Point recruitment details.
(Shell Points - Shell Protocol Wiki)3. Shell Points are gained seasonally.
- The zero season has already passed and was about the very first version of the protocol.
- The first season is nearing its end.
- Each season the points are converted to crabs and zeroed out.
- $CRAB Distribution:
- Season Zero (Shell v1): 13M $CRAB.
- First Season (Shell v2 Guarded Launch): 11M $CRAB.
- Season 2: 9M $CRAB.
- Season 3 (Tentative): ~7M $CRAB.
- Distribution $SHELL:
- 80M to investors, team and companies developing the project
- 40M - Airdrop.
- 50M - to post-TGE incentives
- 30M - to DAO Treasury
Shell Protocol was a promising project in the past that was slowly losing its unique selling proposition.
In 3 years, the AMM and DEX market has gone from a half-empty space to a huge sector where you can find all kinds of products.
Taking a meaningful place here is not the same as launching a Unic competitor in 2020.
And as for the drop, it’s unclear when it will happen. Crabs is an onchain promise that it will happen at some point.
But no dates are written, no deadlines are announced.