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What currency does Shieldeum (SDM) coin belong to?
Shieldeum (SDM) is a BEP-20 utility token that runs on the Binance Smart Chain (BSC), providing access to platform functionalities and services.
Dec 11, 2024 at 10:57 am
What Currency Does Shieldeum (SDM) Coin Belong To?
Introduction
Shieldeum (SDM) is a cryptocurrency that runs on the Binance Smart Chain (BSC) network. Let us deep dive to find out more about its currency.
Understanding Shieldeum (SDM) Coin
Blockchain Platform: Shieldeum is a decentralized crypto token built on the Binance Smart Chain (BSC) blockchain. BSC is a parallel blockchain to the Binance Chain, specifically designed to accommodate smart contract functionality and run decentralized applications (dApps).
- Benefits of BSC: Utilizing BSC enables Shieldeum to leverage the benefits of the Binance ecosystem, including faster transaction speeds, lower transaction fees, and compatibility with various wallets and decentralized exchanges (DEXs).
Token Type: SDM is a BEP-20 token, the native token standard of the Binance Smart Chain. BEP-20 tokens are compliant with the Ethereum ERC-20 token standard, allowing seamless integration with Ethereum-based applications and wallets.
Token Utility: SDM serves diverse utilities within the Shieldeum ecosystem, including:
- Governance: Staking SDM grants holders voting rights on platform proposals and decisions.
- Staking Rewards: Holders can earn passive income by staking their SDM and participating in liquidity pools.
- Transaction Fees: SDM is used to pay transaction fees on the Shieldeum network.
- Access to Features: SDM holders gain access to exclusive features, products, and services offered within the Shieldeum ecosystem.
Currency Classification: Shieldeum (SDM) is primarily classified as a utility token. Utility tokens derive their value from their use within a specific ecosystem or platform.
- distinguer from Security Tokens: Unlike security tokens, utility tokens do not represent ownership or equity in a company or project. Instead, they provide access to specific functionalities and services within the Shieldeum ecosystem.
Conclusion
Shieldeum (SDM) is a BEP-20 utility token that operates on the Binance Smart Chain (BSC) platform. Its primary currency classification falls under utility tokens, which derive value from their use within the Shieldeum ecosystem.
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