Tokenomics update

Grand Base Community Update: Tokenomics transition during the Base migration.

Before kicking things off: it’s important to note that the initial token allocations are the same, and won’t ever change. Rest assured. Let’s take a look at the exact metrics related to the $GB token.

Current token allocation

For a reminder on $GB tokenomics, you can visit the docs link here,
and also read the article dedicated to this, right here.

Fundamentally, tokenomics haven’t changed, we kept the initial split mentioned in the docs above, but following the TGE on Ethereum mainnet, there have been token movements, notably with the marketing part, which means that certain tokens are in circulation in the hands of the community, and therefore no longer under the control of the team

Here’s a breakdown of the situation, as of now, we’ve minted 17.5 million $GB tokens on Base, which represents 35% of the total supply.

• Liquidity Provision: 900k tokens are allocated for liquidity provision to ensure smooth trading and stability. (if you see a different figure on the pool, that's normal, since the TGE; the pool has changed)
• Bridge migration: A significant portion, 9.3 million tokens, is reserved for the bridge to facilitate the migration from the ETH mainnet to Base.
• Team tokens: Nothing have changed, as originally planned, 3.5 million tokens for the team, with a one-month cliff followed by a 5% initial release and daily vesting over 12 months.
• Investor tokens: 2 million tokens are designated for initial investors, with daily vesting over 12 months. This fulfills our commitment to a 12-month linear lockup, distributing half of the tokens on the ETH mainnet and the remainder on Base mainnet.
• Marketing and treasury: The marketing treasury wallet contains 1.8 million tokens, locked and vested over 10 months with an initial 10% release at TGE. We have allocated a portion of our current budget to the CEX listing.

As you can see, the staking rewards and trading incentive sections are missing, let’s find out why.

Future token allocation

As the dApp is not on mainnet yet, we have chosen not to mint it, and therefore not to put its tokens into circulation.

• Staking Tokens: An essential component of our ecosystem, 22.5 million staking tokens, have not yet been minted and are reserved until the mainnet launch.
• Trading Incentives: Similarly, 10 million tokens dedicated to trading incentives are awaiting minting until the mainnet becomes operational.

Once the mainnet is launched, tokens will be minted progressively according to a well-defined mechanism, depending on the demand generated via our dApp and our users.

Circulating tokens and market cap

To ensure full transparency and maintain trust within our community, we want to provide clarity on the allocation. Let’s take a look at the top 5 holders you can view via base scan.

• Address 1 (Team tokens): Team tokens are securely locked for 12 months, demonstrating once again our long-term commitment to the project’s success. Vesting details are quoted earlier in this article.
• Address 2 (Bridge tokens): This address holds the tokens allocated for migration through the bridge from the ETH mainnet to Base, which means they are the community’s tokens. The tokens inside the bridge are only accessible via the addresses of each user. We’ve opted for security, so we, the Grand Base team, don’t have access to the tokens of this address.
• Address 3 (Investor tokens): Reflecting our promise, initial investors have their tokens locked for a linear 12-month period. Vesting details are quoted earlier in this article.
• Address 4 (Treasury tokens): The treasury tokens are locked and vested over 10 months. Vesting details are quoted earlier in this article.
• Address 5 ($GB LP on Aerodorome): This address is holding the $GB token liquidity pool on Aerodrome DEX. Our liquidity pool is securely staked and allows us to have our own POL, so we can partner with AERO, such as participating in epochs.

Market cap: The addresses listed above contain tokens that count as being out of circulation, as they are lock/non-claim, giving the following circulation at around 10,207,472 at the time of writing, giving the market cap of around $15.1 million.

Fully Diluted Valuation: The number of tokens minted to date is 17.5M, however, our max supply is 50M, which means that the FDV is at 74.5M at the time of writing, bearing in mind that 65% of tokens are allocated to the community via reward and incentive systems.

Conclusion

We want to keep our communication transparent, as we have done since the beginning, many announcements will be made this month so, keep your eyes peeled, as our update dApp is right around the corner 👀

Official Links:

• Website: https://grandbase.io/
• X-Twitter: https://twitter.com/grandbase_fi
• Discord: https://discord.gg/grandbase
• Telegram: https://t.me/grandbase_fi