SKL (SKALE) Introduction

1. Brief Introduction

SKALE is an elastic blockchain network that gives developers the ability to easily provision highly configurable fully decentralized chains that are instantly compatible with Ethereum. SKALE chains can execute sub-second block times, run over 2,000 tps on every chain, and run full-state smart contracts in addition to decentralized storage, and machine learning in EVM.  

2. Detailed Introduction

SKALE is an elastic blockchain network that gives developers the ability to easily provision highly configurable fully decentralized chains that are instantly compatible with Ethereum. SKALE uses the $SKL token, a hybrid use token which represents the right to work in the network as a validator, stake as a delegator, or access a share of its resources. SKALE chains can execute sub-second block times, run over 2,000 tps on every chain, and run full-state smart contracts in addition to decentralized storage, and machine learning in EVM. SKALE early supporters include top blockchain VCs such as Arrington XRP Capital, Blockchange, ConsenSys Labs, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, and Winklevoss Capital. 

3. Token Allocation

  • Validator Rewards: 33.0%
  • Delegator Allocation (Early Supporters + Public Allocation): 28.1%
  • Ecosystem Fund: 4.4%
  • Core Team Pool: 4.0%
  • Protocol Development Fund: 4.5%
  • SKALE Foundation: 10.0%
  • Broader Founding Team: 16.0%

4. Token Information and Release Schedule

  • Total Token Supply: 7,000,000,000 SKL
  • Circulating Supply: 564,166,667 SKL (Updated on 2020/11/30)
  • Private Round Price

Early supporters purchased the right to support the network via an agreement for future tokens upon network launch. Prices vary based on time of investment. Lower prices are balanced with longer lock-periods to ensure aligned network economics.Tokens awarded to SKALE supporters in early (pre-public) rounds are not liquid upon launch. To ensure network security and stability, these tokens can be staked. All staked tokens earn standard validator rewards.

Early Supporters

Purchase Price (1 SKL)

Total Lock Period (Months Post MainNet Launch)

Round 1

$0.0034*

(5+ years aggregate)

Round 2

$0.0099—$0.0125

(3+ years aggregate)

Round 3

$0.0152

(2+ years aggregate)

* Round 1 pricing per cumulative investment by R1 SAFT investors in SKALE Labs, Inc. prior to asset transfer to N.O.D.E. Foundation.

  • Public Round Price: $0.03
  • Token Lock-up plan and release plan

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5. Related links

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error or omission. Huobi does not take responsibility for any resulting direct or indirect losses.