Sidus

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Sidus?

Sidus (SIDUS) is a cryptocurrency launched in 2021, operating on the Ethereum platform. It is the gaming token for the SIDUS HEROES platform, a Web3, space-based gaming metaverse that utilizes AI technology and features multiple game studios, unified lore books, and a common economy across all its titles. The token is used for in-game and out-of-game services, allowing players to invest in infrastructure and purchase items within the game. It also has a mechanism for burning tokens through in-game spending, which permanently reduces the token supply.

How is Sidus used?

The SIDUS token is the native utility token of the SIDUS ecosystem, primarily used in various game operations. Key use cases include:

  • Labor Market: SIDUS is used for transactions and operations within the labor market.
  • Transactional Fees: It is used to pay fees for transactions within the ecosystem.
  • Upgrades: The token is required for upgrading NFT Heroes and other in-game assets.
  • Infrastructure Construction: SIDUS is used for building and maintaining infrastructure within the game.
  • Marketplace Operations: It facilitates transactions and operations within the in-game marketplace.
  • Replication: The token is used for replicating assets and items.
  • Wrapping NFTs: SIDUS is required for wrapping NFTs.
  • Resource Exchange: It enables the exchange of resources within the game.

These use cases contribute to the token's utility and value within the SIDUS ecosystem, making it a vital component for players and investors alike.

How do I store Sidus?

To store Sidus (SIDUS) tokens securely, it is recommended to use a cold wallet, which is a wallet that is totally offline. There are two types of cold wallets:

  1. Paper Wallet: This is a simple and cost-effective option. You can generate a public and private key offline using a program and print them on a piece of paper. The keys are printed in the form of QR codes, which you can scan for future transactions. Store the paper in a secure place to protect your assets.

  2. Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person who possesses the USB drive can access the assets. Most people prefer hardware cold wallets, especially for storing a large number of coins or tokens.

How to buy Sidus?

To buy Sidus (SIDUS) tokens, follow these steps:

  1. Create a Crypto Wallet:

    • Choose a reliable crypto wallet that supports the blockchain where SIDUS is listed. Popular options include Coinbase Wallet, MetaMask, and Trust Wallet. Download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.
    • Set up your wallet by creating an account, providing personal information, and selecting a strong password. Note down your secret recovery phrase or seed words carefully.
  2. Buy a Base Currency:

    • Select a cryptocurrency exchange platform and buy a base currency such as Bitcoin, Ethereum, or Tether. For beginners, it is recommended to start with small amounts to avoid risks.
    • Be aware of market trends, trading fees, and crypto taxes due to high volatility.
  3. Transfer Funds to Your Wallet:

  • Log into your account on the exchange platform and withdraw your base currency to your crypto wallet. Provide your wallet address and the amount you want to transfer.
  1. Choose a Decentralized Exchange (DEX):

    • Select a DEX that supports your wallet. Ensure the exchange supports the trading pair you need, such as SIDUS/USDT.
    • Compare liquidity and trading fees among different DEXs to get the best pricing.
  2. Buy SIDUS Tokens:

    • Connect your wallet to the DEX and select SIDUS from the list. Enter the amount you want to trade.
    • Be cautious of scams and ensure you have the correct smart contract address if SIDUS is not listed on the DEX.
  3. Transfer SIDUS to Your Wallet:

  • Once you've purchased your SIDUS tokens, you can hold them in your account or transfer them to your personal cryptocurrency wallet for additional passive revenue or trading on other exchanges.

Some popular exchanges where you can buy SIDUS include Gate.io, Kucoin, BitMart, Latoken, and CoinEX.

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History of Sidus

The history of SIDUS (SIDUS) is closely tied to its parent platform, SIDUS HEROES. SIDUS HEROES is a pioneering, Web3, space-based gaming metaverse that offers interstellar exploration and conquests. It is powered by AI technology and features multiple game studios, unified lore books, and a common economy across all its titles. The platform utilizes a cross-platform approach, enabling seamless progress transference between all its high-quality gaming products.

SIDUS, the cryptocurrency, was launched in 2021 and operates on the Ethereum platform. It has a total supply of 21,353,112,402.04617 tokens. The token serves as the main currency used in the SIDUS HEROES platform, allowing players to invest in infrastructure like the game’s marketplace. Additionally, users who hold SIDUS tokens can purchase Heroes and Pets from SIDUS collections, as well as gear, resources, tools, consumables, and loot boxes.

The co-founders of SIDUS HEROES include Dan Khomenko, Andrey Sudarikov, Dmitry Andreev, and Roman Povolotski, each with significant experience in the crypto sector, interactive design, digital art, and game production. The token has undergone significant price fluctuations, with its all-time high recorded on January 1, 2022, and its all-time low on October 19, 2023.

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How Sidus works

Sidus (SIDUS) is a cryptocurrency token that operates within the Sidus Heroes ecosystem, a play-to-earn (P2E) massive multiplayer online role-playing game (MMORPG). Here’s how it works:

Gameplay and NFTs

Players begin their journey by purchasing a Genesis Hero or Sidus Academy Card NFT, which transforms into their in-game character. Each character is assigned to one of twelve factions, each with its own planet. The game takes place in a futuristic metaverse where players can engage in various activities such as farming resources, building infrastructure, battling creatures or other players, and colonizing new planets.

Dual-Token Economy

Sidus Heroes employs a dual-token system, consisting of SIDUS and SENATE. SIDUS is the in-game currency used for most transactions, while SENATE is the governance token. This design is similar to Axie Infinity, but with improvements to prevent the tokenomics issues Axie faced.

Tokenomics and Use Cases

SIDUS is the utility token of the Sidus ecosystem, serving various purposes such as:

  • Labor market transactions
  • Transactional fees
  • Upgrades
  • Infrastructure construction
  • Marketplace operations
  • Replication
  • Wrapping NFTs
  • Resource exchange

The token is also used for staking opportunities, which are currently closed but may reopen in the future.

Investment and Ownership

Players can invest in the game’s infrastructure, such as the marketplace, and receive a proportional share of the revenue generated as royalties in perpetuity. This feature has been popular, with user numbers doubling since its launch. The team plans to attach these royalty rights to NFTs in the future, allowing NFT holders to sell their NFTs for a substantial premium.

Blockchain and Token Standard

The SIDUS token operates on the Ethereum blockchain, following the ERC-20 token standard. It went live in November 2021.

Overall, Sidus (SIDUS) is designed to provide a comprehensive gaming experience with a well-thought-out economy, encouraging players to engage and invest in the game while offering opportunities for token holders to benefit from the ecosystem’s growth.

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Sidus's strengths

The token Sidus (SIDUS) has several strengths that contribute to its potential and utility within the SIDUS ecosystem:

  1. Comprehensive Utility: SIDUS serves as the utility token for the SIDUS ecosystem, integral to various in-game processes such as the labor market, transactional fees, upgrades, infrastructure construction, marketplace operations, and resource exchange. This broad utility ensures its relevance and importance within the ecosystem.

  2. Deflation Mechanism: The token's deflation mechanism involves the irreversible burning of coins through in-game spending, resulting in a permanent reduction in the token supply. This mechanism helps maintain a stable economy and prevents inflation.

  3. Promoting Social Effects: The universal integration of the SIDUS token promotes positive social effects such as player cooperation, the bolstering of a stable economy, and the provision of additional protection against attempts at exploitation. This fosters a collaborative environment within the game.

  1. Governance and Influence: While not directly involved in governance, SIDUS holders can participate in the broader economic model of the SIDUS Metaverse, influencing the direction of the game through their in-game activities and investments.

  2. Predicted Growth: Technical analysis and market trends suggest that SIDUS has the potential for significant price growth in the long term, making it an attractive option for investors.

These strengths collectively contribute to the token's value and its potential for growth within the SIDUS ecosystem.

Sidus's risks

Sidus (SIDUS) is a cryptocurrency with various financial risks associated with it. One of the primary risks is its volatility, as reflected in its recent price movements. InvestorsObserver assigns a risk score based on the amount of money required to shift the token's price over a 24-hour period, along with changes in volume and market capitalization. This score indicates the potential for price manipulation, with lower scores indicating higher risk and higher scores indicating lower risk.

Additionally, Sidus Space, Inc. Class A (SIDU), a publicly traded company, discloses several risk factors in its earnings reports. These risks are categorized into six major areas: Finance & Corporate, Legal & Regulatory, Macro & Political, Production, Tech & Innovation, and Ability to Sell. The company reported 55 risk factors, with the majority (35%) falling under the Finance & Corporate category, which includes financial and accounting risks related to the execution of corporate activity and strategy.

These financial risks can impact the overall performance and value of the token, making it essential for investors to carefully consider these factors before making investment decisions.

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Sidus’s team

  • Dan Khomenko: Co-Founder and CEO of Sidus Heroes, responsible for leading the overall strategy and direction of the project.
  • Dzhenan Ramchilovich: Co-Founder and CTO, overseeing the technical development and infrastructure of the gaming metaverse.
  • Dmitry Andreev: Co-Founder and Art Director, responsible for the visual and creative aspects of the project.
  • Artem Pachev: Co-Founder and Game Producer, managing the production and development of games within the metaverse.
  • Olia Novitskaya: Chief of Investor Relations, handling investor communications and partnerships.
  • Nikolay Krash: COO, responsible for the operational management of the project.
  • Michael Kudryashev: CBTO, overseeing the blockchain technology and architecture.
  • Valentin Grunichev: Chief Blockchain Architect, designing and implementing the blockchain infrastructure.
  • ZssBecker: Adviser, providing strategic guidance and expertise to the team.

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