- 1.Total of 21M tokens. That's it, not even 1 bit above that.
- 2.50% of the tokens are reserved for the ongoing protocol operation and for the governance reserve. Specifically, 35% is dedicated for partnerships, integrations and new BD-Stables, while the other 15% is reserved (with appropriate cliff and time locking) for the core team that will continue developing and maintaining the protocol. All token allocations, including this one, will be periodically reviewed and amended if needed by the DAO.
- 3.50% are farmed via liquidity mining program over 5 years as per the following schedule:
- Year 1 - 20% (~11,520 BDX/day)
- Year 2 - 12.5% (~7,200 BDX/day)
- Year 3 - 10% (~5,760 BDX/day)
- Year 4 - 5% (~2,880 BDX/day)
- Year 5 - 2.5% (~1,440 BDX/day)
- 4.Bonuses for locking up liquidity:
- 10 years - 50x
- 5 years - 10x
- 3 years - 3x
- 2 years - 2.333x
- 1 year - 1.667x
5. No tokens were sold to investors and/or granted to the team/advisors for past work. In addition to the future team allocation, we will propose to governance (once it's sufficiently decentralized) to allocate some tokens to the original FRAX team, as we believe that their work, from which we've greatly benefited, should be recognized and rewarded. The quantum of the grant, its vesting, and any other terms will be decided by the community.
6. 10% of all liquidity mining rewards (which represent 5% of the total BDX tokens) - will be transferred to the operational wallet with the view of enabling the project to be self-sustainable, prior to generating sufficient revenue from the usage of the protocol itself (e.g. mint/redeem fees, deposit-borrow rate margin etc.) The transferring of the tokens will only happen upon claiming the liquidity mining rewards.