- Increasing the inflation rewards from 35% to 50% of total token supply because of liquidity mining.
- Making changes to PERP distribution to better fit our current status.
- Merging the foundation and rewards into one chunk. Both these two funds are controlled by the future DAO and we think merging them can provide more flexibility in the future.
- Removing the static 4-year staking reward schedule. The main idea is we shouldn’t follow a static reward distribution schedule but a more ad-hoc way to distribute the rewards. This will allow us more freedom to design platform incentives as Perpetual Protocol evolves.
- Reducing the total supply from 200M to 150M and let the future DAO decide how to incentivize the ecosystem in the future.
- Increasing the public sale from 2.5% of the total supply to 5% of the total supply.
Updated PERP Distribution
- 7,500,000 PERPs: Reserved for public sale.
- 36,000,000 PERPs: Team and advisors.
- 6,250,000 PERPs: Seed investors. Binance Labs invested in Perpetual Protocol ( previously Decore) around 2 years ago.
- 22,500,000 PERPs: Strategic investors. We raised a private round in May at $0.08 USD per token.
- 77,750,000 PERPs: Ecosystem and rewards. The fund will be used to incentivize traders, stakers, and developers to build up the ecosystem. As Perpetual Protocol transits to DAO, the fund will be managed by the PP community itself.
The total PERPs supply will be 150,000,000 and a future DAO can decide to mint more PERP if necessary.
Token Release Schedule
Above is the overall token release schedule without Ecosystem and Rewards.
- Public sale: No lockup.
- Team & advisors: Team begins vesting their tokens 6 months after the mainnet launches, and quarterly for the next 30 months.
- Strategic investors: Seed and strategic investors begin vesting their tokens right after the mainnet launches, and quarterly for the next 12 months.
- Ecosystem and Rewards: Before DAO transition, 10% of the Ecosystem and Rewards are unlocked. After DAO transition, all of the Ecosystem and Rewards are unlocked.
Comparison with other projects
Below is a gsheet with PERP’s new token distribution and also comparing to other recently launched IDO projects.
Token Distributions of Related Projects