Token Allocation, Distribution, and Utility
Tl;dr — This article is designed to be your one stop shop for all things tokenomics related. Read it. Don’t skip.
Allocation
Five billion $SLING tokens (5,000,000,000) were minted at genesis and will become fully available over the course of 10 years.
Community Treasury
1% of $SLING, 50,000,000 is available to community airdrop recipients.
With 1% of tokens available to be claimed, the SlingShot DAO Treasury will have 56.04% of $SLING supply available for the community through contributor grants, rewards and community initiatives.
Utility
$SLING is needed to acquire Voting Power, which supercharges your voting abilities within the SlingShot DAO. Following Curve.fi’s ve model, you need to lock your $SLING on the SlingShot app in the voting escrow smart contract. Based on (1) the number of tokens you lock in the voting escrow smart contract and (2) the duration of this lock, you’ll receive non-transferable Voting Power. This Voting Power is what allows you to vote on both gaming ideas on the app, and the ability to participate in governance, steering the ship in the direction that you believe is best.
Community First — Capped Voting Power
As an industry game changer a capped voting mechanism has been put in place to ensure any whales e.g. VC investors, founder, advisors and other contributing visionaries who happen to hold a large amount of tokens will see their aggregate voting power capped at a maximum of 40% of the total vote. This ensures that the individual community members truly will have their voices heard and can govern the SlingShot DAO as they see appropriate.
Community First — Community Rewards Only
Important to note that any voting power, from locked tokens held by VC investors, founder, advisors and other contributing visionaries cannot be used to vote within the SlingShot app. This ensures that all rewards associated with idea voting go directly to the individual community members!
