| General information | |
|---|---|
| Global rank: | 1055 |
| Name: |
Shiden Network |
| Symbol: | SDN |
| Current coin price (PHP): | 8.61 ₱ |
| Last hour: | arrow_upward1.16 % |
| Last 24 hours: | arrow_downward-4.11 % |
| Last 7 days: | 0.810 %trending_up |
| Capitalisation (PHP): | 564 663 832.66 ₱ |
| Volume 24h (PHP): | 18 486 954.07 ₱ |
| Available supply: | 65 607 018.00 SDN |
| Total coin supply: | -1 SDN |
| Start date: | 2021-07-06 |
Shiden Network/Philippine Peso (SDN/PHP) price chart
Shiden Network/Philippine Peso (SDN/PHP) capitalisation and volume charts
Shiden Network is a multi-chain decentralized application layer built on the Kusama Network. The Kusama Relaychain, by design, does not support smart contract functionality; hence, Shiden Network provides this capability. It supports Ethereum Virtual Machine, WebAssembly, and Layer2 solutions from its inception. The network facilitates various applications, including DeFi and NFTs.
SDN, the native token of Shiden Network, functions primarily as a network utility token. It plays a crucial role in enabling Lockdrop, a mechanism for token distribution. Additionally, SDN is used to incentivize network participants, including:
Staking for consensus and rewarding validators and nominatorsPaying commissionsParticipating in the network's dApps rewards systemInvolvement in the network voting system
Shiden Network was founded by Sota Watanabe. The network, as part of its development process, has engaged in crowdfunding to support its parachain auction bid. Contributors to this bid are anticipated to receive SDN tokens as a form of gratitude for their support.