Canister $XCANIC tokenomics

Canister

3 min readAug 10, 2022

Difficult to use NFT as fee on trading platform, we decided to deploy $XCANIC token to support Canister’s operation.

TOTAL SUPPLY — 100 MILLION

Token Distribution:
The 100m $XCANIC tokens will be distributed as follows:

1. Launch Events and Marketing: 20m

Early supporter: User who join our `Donate event` and `Public sale` of CANIC NFT Card will get $XCANIC with rate:

(1.25*2)/0.00125 = 2000 $XCANIC per wallet.

Early stakers: User who staked CANIC NFT Card before Aug 10th, 00:00 UTC will be get $XCANIC with rate:

(Staking allocation * 4.5 * 1.42) / 0.00125

* Staking allocation — read Canister Tiers
* 1.42: Average floor price in 7 days.

$XCANIC will be distributed auto to your wallet with in two days.

Staking rewards: Stake CANIC NFT Card and get reward with started APY: 70%

Reward = (Staking allocation * Floor price / 0.00125)

APY: Depend on staking percent. The more CANIC NFTs staked, the more the rate will decrease and vice versa.

You can stake or unstake any time you want, the rewards will be transferred to your wallet after unstake.
Please note that our system is updating for the new version, if you unstake before it’s done, you won’t get the reward.
We will segregate the Staking section, you can see the NFT tokens you have staked, estimated rewards, APY realtime, stake ratio and other necessary information here: https://canister.app/staking (soon)

2. Airdrop: 11m

The Airdrop is the part that probably excites everyone.
In future, we planed airdrop to NFT holders of some project, Ex: Dfinity Gangs, Cronics… because it’s community, which helped us from first step…
Airdrop event will be annouced on our official channel (Twitter, Telegram, Discord and Medium).

3. Core Team: 9m

Core Contributors is the launch team behind Canister App. Canister App has been completely bootstrapped up until this stage as we have decided not to do any private rounds prior to launching. 10% of the total token supply will be allocated to the core contributors. As we expand the team we will also be allocating a portion of these tokens to the new hires, community moderators.

4. Treasury: 12m

The Treasury is a reserve of tokens controlled by the team for grants and other expenses to help boost and maintain the health of the protocol and Canister’s marketplace.

5. Advisors: 5m

Advisors are our friends we have made along the way, Advisors have not invested in a private round but rather helped us grow and assisted us with things like Token Design, spreading the word and connecting us with the right people/teams.

6. Community Pool: 12m

The Community Pool to be used to fund things voted on by the community/governance stakers.

7. Staking/LP incentives: 31m

From the total supply we are allocating roughly 30% to future LP & Staking incentives. This will allow LP incentives to build up until we get enough liquidity to cover the protocols emissions of tokens.

All Advisor & Core Team Tokens will follow a linear vesting schedule in 2 (two) years .

Fees:
The protocol fees and fees used to create NFT will be burned.