EMT token distribution and audit
This is a community notification about some EMT token issue, clean-up and audit events that will occur from June 5.
The overall EMT distribution strategy remains the same as our latest table and whitepaper:
There are currently 63 million EMT in circulation, with a market cap of $3.54m USD, as can be seen on marketcap.one.
This includes all tokens sold privately, in the crowd sale, all airdrops, advisor, team and partner tokens and some small amounts given as prizes and promotions.
With various lock-ups and staking incentives already in place, around 84% of these are still ‘locked up’, meaning around 95% of the total supply is staked, locked or not yet issued.
The reason we are issuing this detail now is that the market cap and circulating supply will jump on June 5th, 2019.
None of these tokens will flood the market, and with this explanation, this should cause no concern to our community.
Please accept an invitation to discuss all things Emanate on discord.
New token issuing
New tokens will be issued on June 5, 2019 for the purpose of completing our initial token distribution to allow sites like Coingecko, Coinmarketcap and Coinhills to accurately audit, list and rank our token.
Future tokens will be issued as follows:
Project development: 25 million EMT are set aside for longterm project development. This includes supplier and partner payments, contractor payments and promotions. 25% of these (6.25 million) become available every 6 months, with the first 25% available to be used from June 7 (more than 6 months after EMT was initially issued). These tokens will be held in the emanatedevop account pool. These will enter the circulating supply for the purpose of transparency and auditing by the aforementioned websites.
Private sales: 27 million EMT remain for private sales over the next 3 years. These will be large agreements that secure the future of Emanate with long vesting periods for long-term investors. These will be issued from emanateoneos/emanateissue so that the vesting periods can be included in the contracts. These will not enter the circulating supply until they are sold.
Crowdsale pool and bonus: Bonuses for tokenholders will continue to be issued on a monthly basis from emanateoneos/emanateissue. This will continue for up to 6 months. Additional crowdsale events may be held after the launch of Alpha. These will not enter the circulating supply until they are sold/issued as bonuses.
Artist pool: 30 million EMT will be earned by users over the next 3 years after alpha launch. Earnings on the platform come in the form of MNX (you can see this in action on our Alpha test account on Kylin). In the early stages, MNX can be swapped for EMT, and users will be incentivised to stake the EMT they take out. As we start to build a base of credit card subscribers, users will also have cash-out options linked to FIAT. These tokens will be issued from emanateoneos /emanateissue as needed and therefore will not be pre-issued. These will not enter the circulating supply until they are sold/issued as bonuses.
Team and advisor tokens: Founding team and advisor tokens have been fully distributed and no further founding team tokens will be distributed.
Future account giveaways: We will continue to give away free accounts at key times during growth. 5 million EMT remains set aside for these. These tokens will be issued from emanateoneos /emanateissue as needed and therefore will not be pre-issued. These will not enter the circulating supply until they are sold/issued as bonuses.
Reclaim
The 10 EMT airdrops to 300,000 accounts remain largely idle and are overdue to be recovered. These may be recovered by Emanate at any time if we need to recover the RAM. For now, they remain in the wallets as an invite for new users to come and claim one of our Alpha Accounts.
EDIT: Airdrops have now been recovered back into emanateissue
Under this provision, the full circulation of EMT tokens will increase from 63,000,000 now to 93,000,000 on June 5th and then gradually to the full 208,000,000 by 2023.
Discover more about Emanate by reading this 8 part mini-series on Medium: https://medium.com/emanate-live/the-emanate-808-4798d328495d
EOS and EMT are tradable on various exchanges and swap platforms including HotBit, NewDex, Chaince, WhaleEx, Yoloswap and Bancor.
