Introducing Interlude’s native cryptocurrency: the Shell
This article describes the Interlude project’s cryptocurrency, the tokenomics, token distribution and the public crowdsale that we will run in the near future. For more info about the Interlude project read our main article and check out our website.
A unique cryptoasset: the shell
All the economic interactions on the Interlude network —rewarding players and developers, buying a ticket, staking and voting in governance mechanisms — are quantified with the same blockchain-defined quantity: the shell.
For simplicity and to increase investor’s confidence, it has a fixed supply, with one billion shells minted at time of deployment. Having a fixed supply introduce a certain amount of difficulty. Most notably, it leaves little flexibility for fundraising: if the share of tokens that we set aside as a reserve for later investments is not sufficient, we might run into trouble. Nevertheless the gain in simplicity and transparency is enough of an advantage to convince us to go this way.
Which blockchain?
We were initially aiming at a deployment on the Ethereum blockchain, but for the usual reasons — mainly deployment and transaction costs, we eventually settled for the Binance Smart Chain.
So here’s our start: 1,000,000,000 shells, implemented as a BEP20 token on the Binance Smart Chain.
Tokenomics
We consider players and game developers to be full stakeholders in the project, just as much as investors and team members. We thought very hard on a fair distribution of tokens between team members and investors on one hand (eg the usual shareholders in a traditional company) and players and developers on the other hand (who can also become shareholders in our case thanks to the power of crypto), and this is what we came up with:
The players & developers share is to be distributed as a reward through our protocol to bootstrap the project in its first years. Of course in the long term we hope to establish a sustainable economy, with revenue for developers coming either from players or from other sources (ads, partnerships…). In the beginning however, we think it’s important to incentivize players and developers as much as the other stakeholders.
The remaining 50% of the tokens will be shared between the team and investors in the following way:
- 15% for the team, with a four-year linear vesting + one year cliff time-lock
- 15% for investors in short and medium term fundraising, with 10% offered in a public sale and 5% reserved for private investors
- 5% as for bounty and influencer programs
- 15% in reserve for later fundraising, locked for two years.
Token presale
We will run a token sale in the next few weeks, for a small share of supply (between 1% and 2% of total supply). The price will be a function of the amout of BNB already raised as shown in the following chart:
What to know in practice
- the sale will take place on the Binance Smart Chain. Do not send Eth (on the Ethereum mainnet) to our contract!
- you receive your shells immediately, as there is no locking period for public investors
- if you want to participate to our private sale (with an implied fully diluted market cap of approx. $4.5m — a bargain!) just get in touch with us so we can whitelist you.
- follow us on Twitter, Telegram or subscribe to our mailing list on our website to know the exact opening date and hour, as well as the smart contract address.
Update 06/05/2021
- The Shell contract address is 0xE377462302280136d7987720267FC4315b557b93
Thanks for reading!
