Velvet

Explore the tokenomics of Velvet(VELVET) and review the project details below.

What is the allocation for Velvet(VELVET) ?

• Early Backers（15%）： of the supply is reserved to be distributed to the earliest backers (with a part of it already allocated to Binance Labs, Selini Capital, Cointelegraph Ventures, Blockchain Founders Fund, PAKA funds, Mucker Capital, FunFair Ventures and other initial investors) to bring top-tier partners supporting the launch and scaling of Velvet DAO. Early Backers have a 1-year cliff followed by a 2.5-year linear vesting.
• Community Round（0.53%）： of the supply is reserved for the Tachyon community participated in the Echo community round. The participants have an initial 5% unlock followed by a 3-month cliff & a 2-year linear vesting.
• Binance Wallet IDO（2%）： of the supply is reserved for a Binance Wallet IDO.
• Reserved for Future Investments（4.5%）： of supply is reserved for future investments.
• Wallet Marketing（0.2%）： supply is reserved for a marketing campaign among top Web3 wallets.
• Foundation Treasury（18%）： of the supply is reserved for the DAO Treasury, which will be managed by the community through a decentralized autonomous organization (DAO). The tokens in the treasury will be used to fund any operating expenses of the DAO, including future development, security audits, internal growth initiatives, legal support and more.
• Ecosystem & Community（17.5%）： of the supply is reserved for an ecosystem fund, which will be used to support and incentivize developers, partners, and projects that contribute to the Velvet DAO ecosystem. This fund will be managed by the DAO community through a transparent grant process.
• The Growth Fund（5%）： of the supply is reserved to incentivize contributions towards ecosystem growth. One of the main initiatives is the Referral program which will heavily reward people for bringing new users to the platform.
• Team & Advisors（20%）： of the supply is reserved for the team to engage them in the long-term success of Velvet DAO. The tokens are allocated to the team with a 1-year cliff followed by a 3-year linear vesting.
• Liquidity Provision（5%）： of the supply is reserved for liquidity provision, with a majority of it to be used to provide liquidity for $VELVET on decentralized exchanges & a small allocation for market making on CEXes. This will ensure that there is enough liquidity for users to easily trade the token.
• Airdrop & Staking Rewards（5%）： of the supply is reserved for the initial airdrop & staking rewards for veVELVET holders to bootstrap initial decentralization and incentivize stakeholders to lock their tokens. By the time the first rewards are distributed the Velvet DAO will be sufficiently decentralized to make further decisions regarding staking rewards and allocate an additional amount from the ecosystem fund or treasury if necessary.

What is the supply schedule for Velvet(VELVET)?