Aeryus Token Economics Update
When we set out to bring Aeryus to the world our objective was focused on making crypto-payments easy and accessible for everyone. Along that track, we have designed AER, our native network token with strong economic incentives and functionality to facilitate the ERC-721 encapsulation protocol described in our white paper. As stated our original specification for AER included the mint and burn function for each transaction with AER procured from reserve. While this functionality remains intact, AER will now be procured from circulating supply instead of reserves, allowing network usage to better reflect a true economic cost to utilize the network. We believe this structure will provide stronger crypto-economic incentives for users of the Aeryus network and better aligns our users with the success of the protocol.
As such, we will be conducting a burn of a significant portion of our unissued supply to reflect the revised economic model of our network. We are also reconstituting several key wallets, including programmatic vesting for founders tokens, and more. You can review the full revised distribution schedule below, which ultimately brings our total supply of AER from 4,166,666,663 to 50,000,000.
The token distribution is as follows:
· 12,777,665 tokens from token sales that are all currently in circulation.
· 7,500,000 tokens for founders that are entirely restricted and will vest over
the course of the next four years (0x95942d35E96280F925af1BF01D348D0De2A2079e).
· 7,500,000 tokens allotted for marketing out of which 3,500,000 are
currently in circulation
(0x5495B37ECf8716CD0532Ce048238b7f1afFC64B4).
· 5,000,000 tokens for advisors that are currently restricted and will vest over
the next four years (0x5d8E7A14b67b9003A8ded0c70D15dBD5ac98B1Ef).
· 5,000,000 tokens for employees that will be paid out at the discretion of
management or on the basis of contracts
(0x4d1E20eEC7743cbC3A4406733E6E3D3Ee2AbCD4c).
· Finally, 12,222,335 tokens will be retained in the treasury to be used at the
discretion of management (0xd155F90800eE02A24b9a77eAFe9E8196563dB2aD).
This distribution schedule is summarized in the table below, as well as our estimated emission schedule through year 2030.
As a team dedicated to the long term success of our project, the supply and emissions schedule modifications have been determined with a great deal of thought and consultation by the internal team and our strategic economic advisors. In addition, the emissions schedule above will be detailed further in a future article providing more insight into the governance aspects of this improved token economy.
The token burn will be taking place on May 28, 2019.
We would like to thank our growing community for the valuable feedback that has made strategic adjustments to our protocol possible. It is with your support that we will bridge the gap to bring cryptocurrency to mainstream adoption.
Follow us on all our social media channels to keep up to date on all things Aeryus!
Telegram news channel. https://t.me/aeryusone
Check out our website: https://aeryus.com
Looking for token info? https://aeryus.com/token
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Aeryus is currently listed on IDEX. https://idex.market/eth/aer
