Shell Protocol to launch $SHELL on Arbitrum
Shell Protocol has dropped a significant announcement for the community. Needless to say, the members of the Shell Community have every reason to be excited. Currently in the guarded launch phase, Shell Protocol has announced that the team is working to make $SHELL available on Arbitrum. The objective is to introduce decentralized governance into its Protocol DAO.
Shell Protocol is a next-generation DeFi platform, with powerful features like multi-swaps and financialized NFTs on a growing liquidity network.
Here’s a quick guide to participating in the Shell community. 🤙🏻⬇️🌴 pic.twitter.com/inGsUoa0hs
— Shell Protocol (@ShellProtocol) March 29, 2023
Another reason for the Shell Community to be excited is that the team will soon be airdropping the token for all the members, based on which they will be eligible to earn Shell Points. However, they do need to have the Shell application downloaded on their mobile devices. Once earned, Shell points will empower the community to have higher chances for future airdrop allocation.
The Shell community can also earn Shell Points through the offering of liquidity or by wrapping government Toucan non-fungible tokens into the protocol.
While members need to have some quota for earning points through liquidity, the same is unnecessary if they want to wrap the NFT into the protocol. All they have to do is use the trade screen and wrap TOUCAN NFT for shTOUCAN. To reiterate, this does not require any quota.
Provide liquidity and earn Shell points, but first secure quota, which can be done once expander item NFTs have been activated from the Bro Kwon’s Booty Collection that can be found on OpenSea.
The date for the launch of $SHELL has not been shared. It will be shared pretty soon, along with the details of $SHELL tokenomics and timelines.
Shell Protocol is the hub for decentralized finance, where users and builders can leverage the true potential of accounting architecture and the AMM engine.
Bro Kwon’s Booty is a set of Arbitrum NFT with 20 unique items and a total of 14,000 items on the list. It was created in November 2022 on Arbitrum to roll out a creator’s earning of 2.5%. The origin story of the NFT collection states that it was discovered when the yacht of Bro Kwon was destroyed and all the gains were scattered across the Shell World.
At the time of drafting this article, OpenSea reflects the floor price of the NFT collection to be 0.006 ETH. A total of 3,220 owners representing 145 ETH have been registered. The best offer for Bro Kwon’s Booty has gone to 0.001 wETH.
The announcement for the full launch of $SHELL comes hours after Shell Protocol broke the news of its entry into the Top 100 Collaborative.
Shell Protocol has a growing network of liquidity and some powerful features, such as financialized non-fungible tokens and multi-swaps. It is best to keep your eyes open for the airdrop of the token to community members. Also, try earning as many Shell Points as possible since they are linked to a higher chance of future airdrop allocation.