Analysis of WYND’s Genesis Supply
By February 2023, the circulating supply of WYND is estimated to be fewer than 10 million tokens with a maximum supply of approximately 114 million tokens. Most of the tokens in existence have not yet been distributed and a majority of distributed tokens are still vesting or have been staked. In this article, we will deep dive into these numbers.
Genesis Supply
At genesis, 108 million $WYND tokens were minted. These tokens were distributed as follows:
- Airdrop: 70.2 million (65%)
- WYND Foundation: 21.6 million (20%)
- Development Team: 16.2 million (15%)
Airdrop
Of the 108 million genesis tokens, 70.2 million WYND tokens were reserved for airdrops. 27.8% of these tokens (19.4 million) were reserved for the future airdrops. The remaining 50.76 million WYND tokens were distributed to $JUNO, $OSMO, and $REGEN stakers and validators. Fairdrop calculations can be found here.
Approximately 27 million (53.2%) of the first airdrop was claimed and the remaining 23.8 million was added to future airdrop reserves. This leaves a total of 43.2 million genesis tokens reserved for future airdrops.
All airdropped tokens are subject to a one year vesting period. On September 1st, 2022, claimed tokens began the vesting period and will not be fully vested until September 1st, 2023. An estimated 6.2 million airdropped tokens will be vested by February 1st, 2023.
WYND Foundation
The WYND Foundation tokens will be used to fund development of multichain DeFi protocols, attracting investors, partnerships, marketing, additional exchange listings, and other strategic deployment of funds to further WYND’s mission and vision.
Of the 108 million genesis tokens, 21.6 million WYND tokens were distributed to the WYND Foundation. To seed initial development and liquidity on WYND DEX, 5.4 million (25%) of the foundation tokens were liquid. The remaining 16.2 million tokens will be vested for three years and will unlock 5.4 million tokens per year.
- 5.4 million WYND liquid immediately
- 16.2 million WYND vesting over three years
Development Team
The Development Team fund will compensate those who put in the energy and time to launch WYND DAO. Half of the Development Team funds are held in reserve, controlled by the WYND Foundation, to compensate significant contributors who join the DAO after launch.
Of the 108 million genesis tokens, 16.2 million were distributed to the Development Team fund. These tokens are also subject to a one year vesting period once distributed. At the time this article is written, 8.25 million (51%) WYND tokens have been distributed to Development Team contributors. The vesting schedule for these 8.25 million began on December 1st, 2022 and will not be fully vested until December 1st, 2023.
The remaining 7.95 million Development Team tokens are reserved for future distributions which will be subject to a one year vesting period that only begins once they are distributed.
Circulating Supply
The total supply of WYND will be approximately 114 million by February 2023. While there were 108 million genesis tokens, circulating supply must factor in the vesting schedules, reserves, minting, and staked/LP’d tokens. In addition to the genesis supply, approximately 5 million new WYND tokens will have been minted by February 2023. The Community Pool has already received 500 thousand newly minted WYND tokens. The remaining minted tokens are distributed as staking rewards.
Factoring in vesting schedules, reserved tokens, and minting, the circulating (liquid) supply of WYND by February 2023 is expected to be approximately 10 million or less WYND. Control over the future minting of WYND tokens will be shifted from the WYND Foundation to WYND DAO governance once the DAO stabilizes and develops further. Those who stake WYND can participate in on-chain governance and shape the future of WYND tokenomics and much more.
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