Send Token economics, covering its creation, distribution, usage, and value within the network.
Send Token Distribution Percentages
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 25 million $SEND tokens, while a 2 ETH contribution yielded 100 million $SEND tokens. As a token of appreciation, these contributors were awarded 10% of the total token supply with thier tokens being fully accessible upon the Token Generation Event.
A total of 8 billion tokens, equivalent to 8% of the total supply, were paired with 165 ETH from the contribution round. These tokens were listed on Uniswap V3 at an initial price of $0.000038. 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 1 billion 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.
A total of 20 billion $Send tokens are allocated for long-term holders, distributed across 10 rounds every 2 months. To participate, users reserve a Tag, verify it via SMS, and hold $Send tokens linked to an Ethereum address. Distributions include a "holder pool" and "bonus pool," with variable allocation. Eligible holders are determined through snapshots, while verifications boost bonus rewards.
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 1 billion, which will be disbursed over a duration of 20 months to three individuals. On the product front, the team is composed of three engineers, one designer, and one marketing lead. At present, approximately 75 million in $Send tokens are allocated monthly to the product team.