SonicDiamond ($ SDI) started out as an experimental digital asset, born on the mimo.finance decentralized exchange. $ SDI - an XRC20 token that runs on the IoTeX Machina blockchain.
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Description of the SonicDiamond crypto site
The SonicDiamond crypto project has created a rare digital asset that avoids the pitfalls of the slow and potentially compromised (51% of attacks) POW networks. The developers decided to create a $ SDI token on the IoTeX Machina Roll-DPoS network as it provides almost instant finality and high security. The $ SDI token was created, using a smart contract, programmed for an initial supply of 12,000,000 tokens. 83.33% of the original tokens were directly deposited in the $ IOTX / $ SDI liquidity pool at mimo.finance.
Features of the site:
| 1 | Creating a new pool for XRC20 on Mimo Exchange requires the addition of $ IOTX to create the initial token price. |
| 2 | The initial pool was created with a small amount of $ IOTX to create an extremely low price barrier to entry. |
| 3 | Supporting $ SDI with $ IOTX gives it the added benefit of increased cost if the price of $ IOTX rises. |
Using the Roll-DPoS network avoids the use of slow and expensive miners to move digital assets. By removing miners from the network, $ SDI moves quickly and becomes environmentally friendly. Miners slow down transfer processes and charge higher fees as the network grows.
The SonicDiamond team aims to turn the $ SDI token into a Bitcoin-like store of value, using the IoTeX network. Developers believe that over time, people will begin to realize the benefits of storing value on a tomorrow-sized blockchain.
More about Sonic Diamond
The SonicDiamond project is still relatively new. Buying, selling and merging $ SDI can lead to significant losses, as developers cannot control the actions of the first Mimo DEX traders who purchased large amounts of $ SDI tokens. You can trade $ SDI on the Mimo decentralized exchange and the $ SDI price has a partial connection to the $ IOTX price. There are no WhitePaper and RoadMap documents on the site. Instead, there is information on the main page of the site. From social networks, the community only conducts twitter. There are already about 1000 subscribers. The smart contract doesn’t have an audit.