119 lines
6.3 KiB
Markdown
119 lines
6.3 KiB
Markdown
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# Tokenomics
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The ThreeFold Tokenomics framework for Grid 4.0 and Project INCA has been designed to promote a thriving ecosystem of cloud users, farmers, and validators. It presents a robust liquidity strategy that ensures seamless transfers and secure transactions within our cloud marketplace. Furthermore, by allocating 40 million tokens for farming grants, we're empowering individuals and organizations to contribute to the grid's growth and development.
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Our proof-of-utilization rewards system distributes 80% of rewards to farmers who contribute their resources to the grid, ensuring that they're fairly compensated for their participation. Additionally, 10% of rewards are allocated to the ThreeFold Cooperative and 10% to validator commercial partners, promoting a collaborative and mutually beneficial ecosystem. 100% of the proof-of-capacity rewards go to the farmers hosting nodes on the grid.
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```mermaid
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flowchart TD
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A[Cloud User] -->|CHF/EUR/...| B(CLOUD MARKET PLACE<br>Discount based on position<br>in TF Liquidity Pool.)
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A[Cloud User] -->|CHF/EUR/...| B2((ThreeFold<br>Liquidity Pool))
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B2 -->|TFT or INCA| B
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B -->|TFT or INCA| C{Proof Of Utilization}
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G[FARMING GRANTS<br>40m Tokens / Month]--> I{Proof Of Capacity<br>uptime, location, ...} --> D
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C -->|80%| D[ThreeFold Farmers]
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C -->|10%| E[ThreeFold Cooperative]
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C -->|10%| F[Validators<br>Commercial Partners]
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```
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- Farmers are rewarded by 80% of the fees as paid by the Cloud Users, the user pays in Fiat Currency. The marketplace automatically converts the FIAT currency to TFT and INCA as is needed to fullfil the request.
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- The Farmers also get rewards from Farming Reward pools to get to expansion faster, 40m Tokens are granted per month to farmers based on their location, uptime or other achievements.
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- The [Liquidity Pool](liquidity_pool.md) is a central concept from our tokenomics. Vested tokens can only be unvested through the liquidity pool and the liquidity pool has mechanisms built in the help protect volatility in the price.
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## Distribution
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The ThreeFold token distribution plan for Grid 4.0 and Project INCA is carefully crafted to ensure a major allocation to the community, with 70% of tokens committed to community-centric initiatives. This includes 55% for supply and farming, 7.5% for community expansion rewards and promotion, and 7.5% for community grants. Additionally, smaller allocations will be made to liquidity providers (3.8%), ThreeFold Dubai Holdings (2.5%), investors (11.3%), and the team and contributors (12.5%).
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By prioritizing community growth, we're creating a collaborative environment where everyone can benefit from their contributions and participate in the project's success. This balanced distribution ensures that a significant amount of tokens is dedicated to the community, creating opportunities for growth and development within our ecosystem.
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```echarts
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option = {
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title: {
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text: 'Token',
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subtext: 'Distribution',
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left: 'center'
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},
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tooltip: {
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trigger: 'item'
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},
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series: [
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{
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name: 'Distribution',
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type: 'pie',
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radius: '70%',
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data: [
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{ value: 725, name: 'Farmers & Tech ThreeFold Grid 1-3' },
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{ value: 1475, name: 'Farmers ThreeFold Grid 4+' },
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{ value: 300, name: 'Community Rewards + Promotion' },
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{ value: 300, name: 'Grants' },
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{ value: 150, name: 'Liquidity / Dex' },
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{ value: 450, name: 'Investors' },
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{ value: 100, name: 'ThreeFold Dubai Holdings' },
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{ value: 500, name: 'Team' },
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],
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emphasis: {
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itemStyle: {
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shadowBlur: 10,
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shadowOffsetX: 0,
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shadowColor: 'rgba(0, 0, 0, 0.5)'
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}
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}
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}
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]
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};
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```
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There can never be more than 4 Billion Tokens.
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- 55% of supply for Farming and Tech
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- People expanding the network with Router & Node capacity over the multiple releases
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- 18.1%: Farmers & Tech ThreeFold Grid 1-3 (+95% minted, summer 2024)
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- 36.9%: Farmers ThreeFold Grid 4+ (0% minted, summer 2024)
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- 7.5% Community Expansion Rewards + Promotion
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- Promotion of the TFGrid, Marketing Activities, ...
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- 7.5% Community grants
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- We want to expand and build our project in first place together with the community
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- 3.8% for liquidity providing (DEX, marketmakers, ...)
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- 2.5% ThreeFold Dubai holdings (held by the company who manages and promotes the grid)
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- 11.3% For Investors
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- 12.5% for team and contributor rewards
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> Do note this table is still under deliberation and can change
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## Release Schedule
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The ThreeFold token release schedule is designed to balance the needs of different stakeholders, ensuring that everyone has access to their allocated tokens in a predictable and reliable manner.
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Investors will receive their tokens over two years, with equal tranches released at regular intervals. Farmer rewards will be released over three years, incentivizing contributors to continue building and growing the grid. Ecosystem rewards will follow a similar schedule, with token releases spanning four years to promote collaboration and participation within the community.
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By releasing tokens in this predictable manner, we're creating an environment where everyone can contribute and benefit from their participation in Grid 4.0 and Project INCA.
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This leads to following maximum unlocking table
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The vesting accelerates if the token price gets above 0.5 USD, for each 0.1 USD above additional 10% unlocks into the INCA Liquidity pool.
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Thanks to the liquidity pool, the price remains stable even if people decide to chose the option to unvest faster.
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## TFT to INCA
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TFT holders can go to INCA based on following rules
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- There is 1-1 relationship between TFT and INCA
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- TFT can only go to INCA not back.
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- There is vesting implemented over 2 years
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- TFT becomes INCAG token where the INCAG token has the following properties:
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- INCAG gives a given amount of INCA to be minted over 2 years
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- The distribution is of equal parts per month
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- The acceleration unlock rules are:
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- 10% when INCA token hits 0.5 USD longer than 1 month avg out
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- 10% when INCA token hits 0.6 USD longer than 1 month avg out
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- This logic goes on 10% for each additional 0.1 USD increase until it reaches 100%
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For more, plese refer to [this section](incag.md) where we explain that the INCA Generator token is like an NFT generating INCA over time. |