SEND Tokenomics
Send Token economics, covering its creation, distribution, usage, and value within the network.
Last updated
Send Token economics, covering its creation, distribution, usage, and value within the network.
Last updated
Rewards
300,000,000 (30%)
Exchange Listings
200,000,000 (20%)
Treasury
200,000,000 (20%)
Liquidity Providers
100,000,000 (10%)
Core Team
100,000,000 (10%)
Contributor Incentives
100,000,000 (10%)
A total of 300 million $SEND tokens are allocated for long-term holders and participants of the /send ecosystem. To participate, users reserve a Sendtag, verify it via SMS, and hold $Send tokens linked to an Base address. Distributions include a holder pool, fixed pool, and bonus pool with variable allocation. Eligible holders are determined through snapshots, while verifications boost bonus rewards.
A total of 80 million tokens, equivalent to 8% of the total supply, were paired with 165 ETH from the contribution round. These tokens were listed on Uniswap at an initial price of $0.0038. The circulating market capitalization stood at $640,000, while the Fully Diluted Valuation (FDV) amounted to $3,800,000.
These funds have the potential to enter circulation at any given moment. Distribution of the Treasury revolves around employing these funds for successive contribution rounds, aiming to propel the project's advancement. The most recent of these rounds, known as Contribution #2 (Aug 10, 2023), involved the issuance of 10 million tokens in exchange for 100,000 USDC, with a vesting period spanning 5 months. Each contribution agreement will be carefully crafted for strategic purposes and tokens will be subject to vesting conditions.
During the initial contribution round, 171 participants collectively contributed 200 Ethereum. Each contributor adhered to the specified contribution range of 0.5 ETH to 2 ETH without any exceptions. A 0.5 ETH contribution resulted in the allocation of 250,000 $SEND tokens, while a 2 ETH contribution yielded 1 million $SEND tokens. As a token of appreciation, these contributors were awarded 10% of the total token supply with their tokens being fully accessible upon the Token Generation Event.
Payouts for the Core Team are divided into two distinct groups: the Token Generation Event (TGE) team and the team accountable for product development. The TGE team's allocation totals 10 million, which will be disbursed over a duration of 20 months to three individuals. On the product front, the team is composed of 5 engineers, two designers, and an operations lead. At present, approximately 750,000 in $SEND tokens are allocated monthly to the product team.
Contributor Incentives are tokens allocated to individuals outside the core team who contribute to the project's growth. This system rewards community members, developers, and others for valuable contributions like code, community engagement, or marketing efforts. It aims to encourage participation, align interests, and foster a sense of ownership, driving the project's overall success.
