(Note: The proposed tokenomics are subject to approval by DAO on-chain voting except for the initial distribution and 1st public sale.)
In this article, we will discuss the proposed tokenomics for our DAO’s native token, ABAX. We aim to create an inflationary token, with a small number of tokens minted as rewards for governance participants as described in the governance thread. Anyone can participate in governance!
The initial amount of ABAX tokens will be 1,000,000,000 (one billion). The distribution is as follows:
1. Founders & Initial Team (4%)
40,000,000 ABAX (4% of the total supply) will be allocated to the ABAX protocol creators and initiators of this DAO.
2. First Public Contribution (4%)
40,000,000 ABAX (4% of the total supply) will be distributed during a one-week public contribution event, where everyone can specify the amount of AZERO they want to contribute to the DAO. The tokens will be distributed proportionally to the contribution, but not more than 1 ABAX per 0.05 AZERO. If not all tokens are distributed, the remaining part will be used in subsequent distributions.
3. Development Team (16%)
160,000,000 ABAX (16% of the total supply) will be vested linearly over four years to the development team. Initially, the creators’ team will be chosen as the development team, but this can be changed at any time through on-chain voting.
4. Subsequent Contributions (6%)
60,000,000 ABAX (6% of the total supply) will be used for subsequent contributions. We propose six contributions, each worth 1%. The contributions will remain open until all tokens are distributed. The amount of AZERO required to receive 1 ABAX will be 0.1, 0.125, 0.15, 0.175, 0.2, and 0.25, respectively.
5. Marketing, Partnerships, etc. (4%)
40,000,000 ABAX (4% of the total supply) will be allocated for marketing efforts, partnerships, and other promotional activities.
6. Bug Bounty (4%)
40,000,000 ABAX (4% of the total supply) will be reserved for bug bounties, incentivizing the community to help identify and fix vulnerabilities within the platform.
7. Valuable Community Members (2%)
20,000,000 ABAX (2% of the total supply) will be allocated to valuable community members and DAO participants who contribute great ideas to the project.
8. Liquidity Mining (60%)
600,000,000 ABAX (60% of the total supply) will be used for liquidity mining, with 10% released per year.
The proposed tokenomics for the ABAX token aims to create a fair and sustainable ecosystem for our DAO. By incentivizing participation in governance and rewarding valuable contributions, we hope to foster a strong and vibrant community around our project. Remember, these tokenomics are subject to approval through on-chain voting, so make your voice heard!