The Geeq Utility Token
$GEEQ is a utility token used to pay nodes for the validation and virtual machine services they provide to Geeq’s multi-chain ecosystem. $GEEQ is also used as a staking token for the good behaviour bonds that help ensure honest behaviour by the validation network. As a purely transactional cryptocurrency, $GEEQ is also suitable for use in micropayment and other payment applications.
Token Details
Token Allocation and Token Release Schedule after Token Generation Event
Token Release Schedule
0.4% Unlocked-Round
Token distribution complete.
1% Hybrid Seed Round
A mixture of equity and tokens released but held Geeq’s custody until mainnet.
2.22% Pre-Round
Token distribution complete.
2% Floating Liquidity
Token distribution complete.
3% Customer Acquisition
Token distribution complete.
5% Advisors
Locked until a successful mainnet is launched. Then vested for 12 months. These tokens are intended to incentivize contributions to the project and reward success. The twelve-month vesting after the mainnet launch is meant to further incentivize platform growth and development.
7% Founders
Locked until a successful mainnet is launched. Then vested for 12 months. These tokens are intended to incentivize contributions to the project and reward success. The twelve-month vesting after mainnet launch is meant to further incentivize platform growth and development.
9% Marketing
Locked for 6 months, then vested for 24 months. 375k Geeq tokens are released per month. These are intended to be used before and after mainnet launch to build platform traction through partnerships, customer development, application creation, DApp building, and ongoing community building and outreach.
11% Team
Locked for 1 year, then vested for 12 months. These tokens are intended to incentivize contributions to the project and reward success. Team tokens will be released on an as-needed basis starting from September 2021.
59% Unissued supply
May be minted and distributed at the discretion of the corporate entity following board approval. Distribution is primarily for institutional buyers, liquidity providers and business development as long as the market supports it. All releases will be well communicated before any releases of this allocation.
Tokenomics updates
Update 1 Reaffirmation of commitment by founders and advisors.
Update 2 Funding and unissued supply.