BNC Tokenomics
Bifrost Native Coin (BNC) is the main net Token of Bifrost, the initial total supply is 80000000. The goal of BNC distribution is to make the Bifrost network more decentralized, build the market size of staking derivatives vToken, and incentivize the liquidity market of staking derivatives vToken. Every aspect of BNC distribution is critical to the healthy development of the Bifrost Agreement and its ecosystem.
- Liquidity commission: Transfer, transaction, mortgage and other behaviors in Bifrost network all need to pay a certain commission to maintain the network. BNC that used to pay commission will be sent to the Treasury for further administration and distribution. (All kinds of tokens can pay commission).
- Gauge weight: BNC holders determine the gauge weight of different types of vTokens through staking, thereby regulating parameters such as minting incentives, staking rewards, and liquidity farming.
- Slash collateral: Participating nodes will be required to pledge part of BNC to obtain votes from the asset of Staking pool, while increasing the cost of Slash. Slash collateral will be increased or decreased based on the node's performance score.
- Governance: BNC can be used on on-chain parliament, technical committee, Treasury allocation, referendum governance, node election and other chain governance functions, hold BNC can get a right in Bifrost network governance.
- Staking reward: Part of the Staking reward generated from Bifrost will be used for BNC repurchase and put into the State Treasury.
Reserved part and funds may be adjustable with the development of Bifrost, but Bifrost will not make a zero-cost airdrop and any incentive will satisfy the principle of fundamental value capture. 50% of the tokens are reserved as incentives for the entire ecosystem to ensure that the Bifrost network can be implemented and can continue to operate in a healthy manner. Including vToken minting (incentive), PLO slot auctions, Collator incentive, Slash insurance.
- SLP: vToken mint is the most significant value that Bifrost can offer, 22.5% of the total supply being used to reward users who mint vToken.
- SALP: vsToken mint and other parachains crowdloan cooperation subsidies, expand Bifrost's ecosystem scope and community scale.
- Liquidity: Provide more liquidity for vTokens, reduce trading spreads, increase trading depth, and improve user experience.
- Crowdloan: Successful parachain crowdloan symbolizes measureless value to Bifrost network. Bifrost will release 17.5% Token in total to reward the group that helps Bifrost to participate in the Crowdloan.
In order to ensure the development of Bifrost's function, launch and ecosystem development, different parts of the BNC allocation will have different proportions of lock-up time, and the allocation for the BNC team will also be linearly unlocked 180 days (half a year) after Day0 (circulation day), and continue Unlocked in two years.
Distribution of Tokens | Share | Tokens | Vesting |
|---|---|---|---|
Ecosystem | 50% | 40,000,000 | Locked for governance |
Founder and Team | 20% | 16,000,000 | TGE 0% unlocked, unlock starting 6 months after TGE, unlocked every month, divided into 24 month to unlock |
Seed Round I | 6% | 4,800,000 | TGE 25% unlocked, the remaining 75% unlocked every day 0.25%, 300 days unlocked |
Seed Round II | 4% | 3,200,000 | TGE 25% unlocked, the remaining 75% unlocked every day 0.25%, 300 days unlocked |
Strategic Round | 2% | 1,600,000 | TGE 30% unlocked, the remaining 70% unlocked every day 0.23333%, 300 days unlocked |
Private Round | 3% | 2,400,000 | TGE 30% unlocked, the remaining 70% unlocked every day 0.23333%, 300 days unlocked |
Marketing & Community Build | 3% | 2,400,000 | No vesting |
Mint Drop | 2% | 1,600,000 | No vesting |
Treasury (Foundation) | 10% | 8,000,000 | Locked for governance |
The total supply is 80,000,000 BNC, there is 50% share distributed to the Ecosystem, with five separated allocations:
- Kusama Crowdloan (tentative): 3.75%
- Polkadot Crowdloan (tentative): 13.75%
- vToken Mint Incentive: 22.50%
- Collator Incentive: 5.00%
- Slash Insurance Fund: 5.00%
Last modified 11d ago