ARMOR token launch: 23 Jan 2021, 1800 UTC
Total supply: 1,000,000,000 ARMOR (fixed supply, not mintable)
1 billion ARMOR will be minted at genesis and will become fully accessible over the course of 2 years. The 1 billion total supply will be distributed like this, inspired by the Uniswap token distribution model:
65% to Armor community members [650,000,000 ARMOR]
36.5% will be reserved for the DAO treasury which can be used by the community to support the long-term development of the ecosystem, for further product growth programs and to ensure the Armor protocol grows sustainably long term. A community-managed treasury opens up many exciting opportunities which will ideally foster a spirit of experimentation. Hence, solid governance principles will be critical in ensuring the most optimal distribution of this treasury. The following allocations are suggested at launch:
1% - bug bounties
6% - educational programs
12% - development grants
14.25% will be reserved for participants in the first 24-week token distribution event.
1% of the supply may be used to kickstart DEX liquidity on uniswap, sushiwap and balancer. This LP will not be used to farm ARMOR. When appropriate the remaining tokens will be returned to the DAO treasury.
0.5% reserved for airdrop to Gitcoin donors and NXM, DIP, SAFE, and COVER holders.
This may be allocated equally to wallets who held these at various snapshots + participated in our first $ARMOR token distribution event, as a bonus. 80% of it may be rewarded using Root Multiplier and Stake Days calculations to reward long term participants the most. The remaining 20% may be rewarded as flat and equal airdrops. The specific process may be subject to adjustment closer to the time. Feedback is welcome.
14.25% will be reserved for strategic backers and partnerships to enhance the position and longevity of Armor protocol within the Ethereum ecosystem, with 2-year vesting.
35% to Armor early team members with 2-year vesting [350,000,000 ARMOR]
16.266% to future team and contributors
18.044% to seed team
0.69% to advisors
Simple linear vesting over 2 years, and described by the equation:
Where, Tu = tokens unlocked at time t (in seconds), and Tt = total tokens