Summary of the token distribution, release schedule, governance and other token related plans
Source of summary below: $THX distribution and governance 📊 👩💻👨💻 — Tokenomics (II), Nov 19, 2021. Updated where necessary on new developments.
- $THX launched November 22nd, 2021.
- Total supply of 100M $THX tokens, with 55% allocated to the community.
- Token release schedule and governance plans to be co-designed with the community.
- 1.Liquidity Bootstrapping Pool (10%)An innovative auction mechanism to launch $THX, aiming for fair distribution and price discovery. It starts with a 10% USDC / 90% THX ratio, gradually shifting to 90% USDC / 10% THX over a two-week period, ensuring a balanced market entry.
- 2.Community Distribution (15%)A tentatively planned airdrop, aiming to boost adoption and expand token distribution. The community will decide on the specifics, such as vesting conditions, to prevent market disruptions after the airdrop.
- 3.Community Incentives (20%)Designed to encourage the use of THX Network's ecosystem, these incentives will be distributed using the platform's Asset Pools. The community will participate in shaping the incentive structure, and a linear distribution over five years is suggested.
- 4.Community Treasury (20%)A strategic reserve for liquidity, growth initiatives, and partnerships, ensuring the project's long-term success. The community will have a say in determining the treasury's usage through Snapshot.org voting, fostering a collaborative decision-making process.
- 5.Team (17.5%)The allocation for the core team members is designed to reward their commitment and contributions to the project. A 24-month lock-up period ensures team members focus on the long-term success and growth of the THX Network.
- 6.Onboarding (2.5%)This allocation is meant to engage early THX Network users and creators, providing them with a stake in the project. The community's input will be sought through Snapshot.org voting to decide on the distribution, ensuring a transparent process.
- 7.Investors (15%)Raising early-stage funding through private sales, this allocation helps finance the project's growth. The minimum 12-month lock-up period for investors encourages long-term commitment and reduces potential market disruptions from large sell-offs.
- Token allocations held by Gnosis Safe for increased security.
- THX Network's multi-signature wallet controlled by four individuals.
- Three out of four signatures required for moving token allocations.