Layer1 blockchain Shardum has released an airdrop update. The Shardum Foundation plans to distribute SHM airdrops in three phases, totaling 25.4 million coins. The first phase targets early contributors (3,661,600 coins), the second phase targets incentive testnets (3,296,500 coins), and the third phase targets mainnet activities (18,441,900 coins). The first phase will distribute 3,661,600 SHM coins to early contributors, who are divided into four categories: off-chain contributors, on-chain contributors, developers, and node validators.

Shardum states that its SHM token is a utility token with uses including staking, governance, rewarding tokens, gas tokens, and transaction fee burning. The maximum supply of SHM is 508 million coins.