Bitcoin financial public chain Side Protocol announces SIDE token economic model

On November 21st, Side Protocol, a Bitcoin financial public chain, announced the $SIDE token economic model. The total supply of $SIDE tokens is 1 billion, with functions including protocol revenue value accumulation, payment of transaction fees, network security collateral, and on-chain decentralized governance. Token distribution includes: ecological reserves 20%, team 18%, community treasury 17%, public offering 15%, private offering 13%, liquidity 7%, and 10% airdropped to eligible Bitcoin active users, NFT communities, Cosmos communities, and testnet participants, etc. $SIDE will first be issued on Solana using the SPL standard, and the mainnet is expected to launch in January 2025, at which time it can be converted to mainnet tokens and participate in staking and governance.

Side Protocol is the first Layer 1 blockchain fully compatible with Bitcoin, providing decentralized self-custody financial infrastructure, aiming to build a Bitcoin-centered global economy.