IDEP Network
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IDEP Network

IDEP Network Tokenomics

Introducing a complete look at IDEP Networks tokenomics.

Before we get to the actual numbers, it’s important to give some context. The core IDEP Network team’s goals are growth and long term sustainability. We must ensure that our tokenomics allow IDEP Network to remain extremely competitive with other ecosystems. This means creating an ecosystem structure that is and remains attractive to community members, node operators, and developers. The main ethos is to ensure the network remains fully decentralized while also well-positioned for long term growth.

Specifications ⚙️

  • Symbol: IDEP
  • Decimals: 8
  • Initial total supply: 150,000,000
  • Initial circulating supply: 30,000,000
  • Initial circulating supply as % of initial total supply: 20%
  • Inflation min: 7%
  • Inflation max: 30%
  • Initial Inflation: 20%
  • Target bond rate: 65%

Main utility

  • Paying for network transactions (gas)
  • On-chain Governance
  • Securing the network
  • Staking for annual percentage yield
  • Primary token used in SpaceTime and Senary APP

Inflation

IDEP Network utilizes POS (Proof of Stake) model to secure the network. New tokens are created and distributed to the network users who participate by securing the network. Network inflation is critical to sustainability in a POS network because it provides an incentive to secure the network by staking to earn rewards. It’s important to note that inflation is especially useful in the early stages of a network’s growth as it offers a clear economic incentive to remove as much of the circulating supply as possible from the market. IDEP Network’s inflation mechanisms move the inflation down towards the 7% floor when the staked percentage of total supply is above 66%. When the staked rate is below 66%, the inflation starts heading up towards the ceiling, 30%.

Supply Cap

As mentioned above, some inflation is always necessary in order to create an additional non-transaction reward for validators and to maintain strong security. With the Proof of Stake model, there can be potential vulnerabilities if the entire reward for network participants is based on transaction rewards versus the overall block reward. Because of this, IDEP Network is not designed to have a maximum supply.

Distribution

Both our seed and private sale rounds will be distributed amongst multiple different investors. By distributing our seed, private and public sales with a wide variety of parties we are trying to create a more fair token distribution, with no single entity holding large quantities of IDEP token. It’s also important to note, for team and advisor token vesting; we will be linearly unlocking the tokens over a three year period with the countdown starting at U.T.D.E. (Utility Token Distribution Event). We think three years is relatively a long period of time for team token vesting as compared with other successful projects. Lastly, for transparency all current team member addresses will be published after mainnet launch.

IDEP Network token distribution at a glance.

Team

  • 15%
  • 22,500,000 IDEP
  • Past present and future team members have a 3 year linear vesting schedule with a 6 month cliff.

Advisors

  • 10%
  • 15,000,000 IDEP
  • Past present and future advisors have a 3 year linear vesting schedule with a 6 month cliff.

Marketing

  • 10%
  • 15,000,000 IDEP
  • Allocation served for marketing purposes, this includes grants assigned for marketing campaigns or exposure building events. Fully unlocked.

Community Funding

  • 20%
  • 30,000,000 IDEP
  • A significant ecosystem fund used for activities such as development grants, yield farming campaigns, and major network improvement. Fully unlocked.

U.T.D.E.

  • 20%
  • 30,000,000 IDEP
  • Tokens offered during the Utility Token Distribution Event to the public. Any unsold tokens will be transferred to the community funding pool.

Seed

  • 10%
  • 15,000,000 IDEP
  • Tokens allocated during the seed stage of fundraising, all investors have an undisclosed period of vesting.

Staking Incentives

  • 15%
  • 22,500,000 IDEP
  • Reward pool used to incentivize and bootstrap the network in the early stages of the mainnet. Fully unlocked

We hope this article gives some much needed clarity on the tokenomics of IDEP Network. Given that IDEP Network is dynamic and decentralized, it’s hard to keep exact figures for the tokenomics in the future. IDEP Network is also inflationary, which is critical for sustainability. Therefore, we expect these numbers and use cases to change as the network is launched and matures over time.

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