Self Chain Founder: Increasing Token Supply Aims to Strengthen Network Security

ChainCatcher message, in response to the community's recent concerns about the "increase in token supply," Self Chain founder and CEO Ravindra Kumar posted on the X platform addressing the doubts and FUD faced after the project's migration from FRONT to SLF.

Kumar emphasized that Self Chain is not a new team taking over, but rather the original team has undergone a strategic transformation, expanding from a wallet project to a Layer 1 blockchain based on Cosmos-SDK. Regarding the increase in token supply, Kumar explained the distribution of the total supply of 360 million: 36 million permanently locked for foundation nodes, 90 million migrated from FRONT to SLF, 10 million allocated to new investors as validators (18-month lock-up period), 36 million allocated to equity investors (36-month lock-up period), 30 million allocated to the core team (6-year lock-up period), and 68 million for the ecosystem (released at 1.5 million per month).

Kumar stated that the increase in supply aims to enhance network security, prevent 51% attacks, and attract more investors and validators to participate.