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WHAT IS SHENTU (CTK) TOKEN?
Shentu Chain is a DPoS blockchain built with Cosmos SDK. Its purpose is to operate as a foundation where blockchain infrastructure and decentralized applications can be built securely. The main components of Shentu Chain include:
- Security Oracle: Protects transactions on the chain and safeguards cryptocurrency projects from malicious attacks by conducting real-time security checks provided by a network of decentralized validators.
- ShentuShield: Provides flexible, decentralized compensation for lost, stolen or inaccessible cryptocurrency assets from any blockchain network due to security issues. By leveraging the real-time Security Oracle score and Shentu Chain governance system, a decentralized member network can provide collateralized assets, earn rewards, and vote on ownership confirmation requests to protect the blockchain community.
- DeepSEA: A secure programming language and compatible compiler toolkit for Shentu Chain virtual machine, along with Ethereum WebAssembly and Ant Financial’s AntChain.
- Shentu Virtual Machine (CVM): Fully compatible with the Ethereum Virtual Machine (EVM), CVM allows users to access, verify and combine smart contracts and blockchain security information. This allows smart contracts to change their behavior based on the security credentials of other smart contracts. For example, a lending contract can only provide a loan to a DAO contract if it can prove its safety.
Shentu has committed to using 1,000,000 CTK to sponsor the Binance Chain Compensation Fund ShentuShield, allowing members to protect their assets from losses due to theft or code malfunctions.
CTK TOKEN
CTK is the official native token of the Shentu Chain blockchain platform.
The CTK token has 2 main use cases:
CertiK Chain:
- Fees: CTK is used to pay transaction fees and smart contract deployment fees on CertiK Chain.
- Staking: Nodes use CTK to stake and secure the network.
- Voting: CTK holders can propose and vote on CertiK Chain improvement proposals.
CertiK Services:
- Payments: Use CTK to pay for Audits, Security Oracle and CertiKShield operation costs.
- Collateral Asset: CTK is used as collateral in CertiKShield.
- Voting Claim Proposals: Accept or reject refund requests from Shield Purchasers.
Tokenomics
Token sale Data
| Token Name | CTK |
|---|---|
| Private Sale 1 Allocation | 29,000,000 CTK |
| Private Sale 1 Token Price | 0.77 USD / CTK |
| Private Sale 1 Amount Raised | 22,330,000 USD |
| Private Sale 2 Allocation | 9,000,000 CTK |
| Private Sale 2 Token Price | 1.90 USD / CTK |
| Private Sale 2 Amount Raised | 17,100,000 USD |
Token allocation
| Ticker | CTK |
|---|---|
| Binance Launchpool | 1.50% of the total token supply |
| Private Sale 1 | 29.00% of the total token supply |
| Private Sale 2 | 9.00% of the total token supply |
| Team | 10.00% of the total token supply |
| Foundation | 25.00% of the total token supply |
| Community Pool | 17.50% of the total token supply |
| ShentuShield Pool | 8.00% of the total token supply |
Vesting Schedule
IS CERTIK THE PARENT COMPANY OF SHENTU?
CertiK is a pioneer in blockchain security, utilizing the best of AI technology to protect and monitor blockchain protocols and smart contracts. Founded in 2018 by professors from Yale University and Columbia University, CertiK’s mission is to secure web3.
CertiK applies advanced innovations from academia to business, allowing important applications of the mission to scale safely and correctly.
One of the fastest-growing and most reliable companies in blockchain security, CertiK is a true market leader. To date, CertiK has worked with nearly 4,000 Enterprise customers, secured over $360 billion in digital assets, and discovered nearly 70,000 vulnerabilities in blockchain code. Our clients include top projects such as Aave, Binance Smart Chain, Terra, Yearn, and Chiliz.
CertiK is supported by Insight, Sequoia, Tiger Global, Lightspeed, Advent International, SoftBank, Hillhouse, Goldman Sachs, Coinbase VCs, Binance, Shunwei Capital, IDG Capital, Wing, Legend Star, Danhua Capital, and other investors.
CertiK is valued at $2 billion with new funding from Goldman Sachs and other investors, raising more than $200 million in total.
CertiK and Shentu (CTK) have the same founding team, but according to information from both sides, they are separate projects.
PERSPECTIVES ON SHENTU (CTK)?
Shentu Chain was launched in late 2020, but the transaction volume is currently quite low, with no Dapps running on the chain. The project provides little updates on Twitter and appears to be weak during downtrends.
The development direction of Shentu Chain focuses on security, rather than stimulating the flow of money through DeFi like other ecosystems, making it difficult to attract funds. On the Cosmos IBC bridge, despite being implemented for a long time, the volume in the past 30 days only reached $8, indicating that the ecosystem has no money flow.
With the controversies raised, despite being supported by Binance to upgrade the chain and act as validators on the Shentu Chain, the project’s direction and actions have made investors and holders quite disappointed.
If the development trend continues like this, Shentu Chain (CTK) is difficult to compete with other ecosystems. At present, it cannot be said that it is a good potential long-term project.
The project’s on-chain data is compiled from some whale wallets in this list: https://app.depocket.com/shared/97d4a6ed-98cb-42ae-a715-2c5703f694b4
We hope this provides useful information to investors, helping them make the right choices for their investment portfolios!
