Tokenomics
Last updated
Last updated
Through much consideration we have decided to have quite a large genesis airdrop, airdropping 10% of total supply - 10 million Void tokens! It is important for us and our cause to have a strong community around our project and we believe generosity among many other things is a good way to start building this. Our airdrop will be distributed throughout the Osmosis ecosystem with the recipients being:
$OSMO Stakers - 5%
Various Osmosis LP's (TBD) - 5%
In the pursuit of making our airdrop as fair as possible we will be implementing a whale prevention formula. This essentially lowers the amount of $VOID received after a certain amount staked in each avenue, this allows for some the smaller accounts to receive a larger portion, without whales taking the whole cake.
A formula description will soon be available in the technical concepts section.
With such a large airdrop we believe it is fair that the Void platform captures some value back from the airdrop participants. Therefore, Void has taken a gamified approach to the airdrop claiming mechanism. The airdrop will be split into 2 parts with the respective tokens being released in each stage. This will help us achieve high levels of TVL in the pools while Void is in its early days, which is very important when it comes to the early efficiency of the platform.
Part 1: 1/3 of the airdrop will be claimable right away for each person meeting any of the airdrop requirements mentioned above.
Part 2: The remaining 2/3s of the airdrop will be split into 3 equal portions, each of which will be claimable by providing funds into the Void Anonymity Pools for a complete 31 days. Each user will be able to complete this step 3 times, after which the entirety of the airdrop will be unlocked to them. There is initially no timeframe set to claim this part of the airdrop.
To support the team and later development of Void Protocol, 15% of the total tokens will be reserved. These funds are to incentivize people to join and share our commitment towards Void Protocol. These tokens will be released over a period of 36 months, released in equal portions every quarter.
Any advisors will be receiving token allocations from this same 15% reserved for the team, which means the same vesting period applies, ensuring any advisors joining are practically one of the team.
There will be three parts to our Fundraising;
Early Funds (5m tokens) $375,000
Strategic Round (2.5m tokens) $187,500
Public Round (15m tokens) est. $1,500,000
We strive to offer fair opportunities for all those interested in participating in Void Protocol.
A total of 5m tokens have been reserved for this part of funding, early fundraising is to ensure the success of the early stages of Void Protocol, Including team formation and building out to MVP/TGE. These tokens will be priced at $0.075 which is a 25% discount to the public raise, the discount has been added due to the risk that these investors take on.
These tokens will have an overall vesting period of 12 months, they will be released linearly, this keeps any early investor selling pressure throughout the release dispersed and divided.
Initially, there was no plan for a strategic round to be held. Due to the downfall of Terra, everything that we had worked so hard to build now needed to be changed to remain viable. Having been only weeks away from our IDO and launch, our runway was already low and everything we had left was wiped out by the crash. This strategic round of funding allows Void to maintain a runway to convert the current logic and codebase into an Osmosis-friendly system. These tokens will be priced at $0.075 which is a 25% discount to the public raise. To reflect the difference in risk between this round and the early round, these tokens will have a 6 month cliff, then vested linearly for 12 months.
Void's initial plan towards the public raise was to have the sale hosted on a variety of platforms, hosting a whitelist sale and a public sale. This plan, while it still remains an option, is no longer locked in. We've essentially been given a second chance to plan the best method to host the public raise and we are exploring what options will be best for both our community and for Void protocol. It's possible we maintain using the traditional methods, move towards a LPB format or even a mixture of both. There are 15m $VOID tokens reserved for this raise.
3% of token supply has been reserved for liquidity. This will be provided into the VOID/UST liquidity pools alongside 300k from public funding. This liquidity will be locked for 1 year. Liquidity is important to Void, especially early on in the project, hence the 10% of token supply that will be paid to liquidity providers over 6 years. Void aspires to implement mechanisms to work towards Protocol Owned Liquidity (POL). However these mechanisms will be decided upon by the DAO, and the funding of which will be taken care of by the Void DAO treasury.
16% of the entire supply has been reserved for Governance. 9% of this will act as a treasury for the DAO with 5% available on TGE and the other 4% will be released in a linear fashion over 72 months. This is to ensure the DAO is constantly getting topped up with steady funds, alongside other measures. These funds can be used for community promotion, reserve funds, community positions and content rewards. The spending of these funds are to be determined by the governance stakers and ultimately the Void DAO.
7% of the token supply is reserved for Void governance stakers. This will be released linearly over 72 months. On top of this, a small percentage will be taken from the VAP yield-bearing strategies and used to buy $VOID, which will be used to ensure that stakers are still being rewarded after the 72 months has passed. At this point, the more users/deposits, the more $VOID stakers will receive.
Governance stakers will also receive any withdrawal fees paid by those utilizing the VAP's but not staking >10k $VOID for governance.
These rewards go towards depositors of the Void Anonymity Pools (VAPs) and Liquidity Pools (LPs).
From the total 33.5% reserved for the platform rewards, 23.5% is for the VAPs which will further incentivize people to keep their funds in the protocol. Maintaining a good TVL is very important to us as it will help bring extra value and security to the Void ecosystem. The other 10% will be set aside for LP rewards to ensure Void protocol can maintain enough liquidity for it's users.
These rewards will be paid out linearly over a 6 year period (72 months). This allows ample time for the ecosystem to form into a perpetual system, where the remaining rewards will all be generated on the Void platform and then redistributed to those contributing.
