SOMESING and Delio to promote the development of
‘SSX token’ Staking Investment Service
SOMESING, a Klaytn mainnet-based social karaoke DApp, announced that it will develop a “virtual asset staking investment service” using SSX, SOMESING’s utility token, with Delio, a leading company specialized in crypto finance in Korea.
Kim Heui-bae, a CEO of SOMESING, said, “From the beginning of development, SOMESING has designed a token economy that can distribute 70% of the total accumulated tokens of the contents to users as a reward for their contribution in the ecosystem while the platform takes the remaining 30% to pay royalties and music resource fees and company’s operating cost for a stable service operation. Starting with the launch of the mainnet service in November 2019, we have completed the validation of our token economy over the past year and confirmed that stable token revenues are generated by users’ active participation and contribution in the ecosystem. We are pleased to promote the development of the De-Fi product with Delio using a part of SOMESING’s token revenue and believe that this staking investment product will bring our users as well as SSX token holders a benefit.” he also mentioned.
Delio is Korea’s leading virtual asset lending and staking service company that provides various crypto finance services using virtual assets, and it has also stood out in De-Fi field such as the launch of ‘Delio Yield Farming Service’ recently.
Meanwhile, SOMESING has been growing steadily with more than 600,000 downloads recently and is preparing to enter the global market with the development of a separate service based on LINE blockchain for Japanese users.