By: Geeq on Jan 23, 2023
As we move into 2023 we need to update our tokenomics to reflect the company token holdings as well as some token movements which will happen shortly. The original tokenomics had the following allocation 0.4% Unlocked-Round, 3% Customer Acquisition 2.22% Pre-Round,2% Floating Liquidity and 11% Team. These allocations have all been released so will be removed from the updated tokenomics.
The 1% Hybrid Seed Round, 5% Advisors, and 7% Founders all remain in company control and will be vested from the mainnet launch.
The marketing wallet had an initial allocation of 9% or 9 million tokens which were released at a rate of 375k tokens per month over 24 months. Due to market conditions and the increased mainnet timeline that allocation is now used up. During Q1 2023, we will be moving 8,977,778 tokens from the unissued supply to the marketing wallet. This will leave 40 million tokens in the unissued supply.
The marketing wallet will release 500k Tokens on a monthly basis. This will be used to facilitate staking rewards to the community as well as other marketing/business incentives that we are working on.
The Unissued supply will be 40% once the 8,977,778 Tokens are transferred to the marketing wallet.
We have also updated the tokenomics for 2023 to reflect the tokens the company holds. Which can be found here.
The initial token release schedule can be found here.
To learn more about Geeq, follow us and join the conversation.