New token, new tokenomics
Introduction
It’s almost time to get the ball rolling again, and to do so we’ve changed the project’s tokenomics to meet the community’s expectations for a safe contract. This week we will publish the new contract for the relaunch of our token, the CA will be verified in the first place to allow everyone to read it, and then will be audited, but first here are the tokenomics and the details you need to know.
Tokenomics overview
The total and definitive supply of the new token is set at 25,000,000. This represents a 50% reduction of the token number compared to the old tokenomics, offering better metrics and lower FDV, see below for details:
- 6,720,000 tokens are dedicated to supporting the community, particularly former liquidity providers who have suffered losses.
- 10,000,000 tokens will be distributed for the relaunch. According to the snapshot, 10 million tokens will be distributed for the relaunch, including ETH token holders.
- 4,000,000 tokens will constitute the treasury, guaranteeing sufficient resources for future initiatives and the sustainability of our ecosystem.
- 3,000,000 tokens are reserved for the Grand Base team.
- 1,180,000 tokens will be allocated to MEXC holders, and the total amount of tokens will be minted and sent to the MEXC members responsible for carrying out the automatic swap to facilitate this distribution.
- 100,000 tokens will ensure initial liquidity paired with $USDC on Aerodrome.
As you can see, a large number of tokens is dedicated to the community, for a better view you can see below a representation of the token distribution.
Security and transparency
In the new contract, there will be no mint function, in order to add a layer of security, and this changes the part dedicated to community rewards and incentives, which is currently out of date and will lead the project towards a new, even more effective incentive system.
The old token model is inflationary, the new one is capped and without inflation, all necessary tokens will be minted at TGE and locked as required. In addition, to ensure security and confidence, we have scheduled a full audit and verification by independent third parties for the new CA.
For safe vesting and claiming, you can claim your token directly from team.finance as soon as vesting is launched.
Conclusion
This week, we’ll be publishing details about the new vesting terms dedicated to each token allocation, in the meantime, take the time to understand the new version of the tokenomics.
Official Links:
- Website: https://grandbase.io/
- X-Twitter: https://twitter.com/grandbase_fi
- Discord: https://discord.gg/grandbase
- Telegram: https://t.me/grandbase_fi
