π’Tokenomics
HOG token is an ERC20 utility token. Initially, it serves as a governance token for the protocol. In addition to that, HOG token holders can stake their tokens to earn rewards and participate in the ecosystem's growth via different token sinks: minting, staking, etc. Symbol: HOG Supply: 100,000,000 Blockchain: L2 TBA
Token Distribution
| Total Supply | DAO | Team | Investors | Incentives |
|---|---|---|---|---|
100,000,000 | 47,000,000 | 25,000,000 | 16,000,000 | 12,000,000 |
Incentives (12%)
Engage and build momentum in the community;
Incentivize dApp adoption;
Others (TBD)
Investors and Liquidity (16%)
Early backers supporting the project's vision;
Future investors;
Ensure ample liquidity for the token upon launch.
Team (25%)
reserved for current and future team members;
ongoing research;
development;
future funding.
DAO (47%)
Unlocked but not under team control;
Represents shared community governance;
Use will be decided by the community.
Vesting Details:
The lockup for pre-seed is 4 months cliff lockup since TGE and then 25% portions unlocking every 4 months. As such, itβs just a bit over 1 year (16 months). We believe that cliff unlocks can be a better solution, as communities have been confused with gradual per-block vestings that DeFi projects did throughout the last cycle.
The lockup for the company and team will naturally be longer than for investors.
Additional Notes:
The distribution percentages are initial estimates. Practical implementation may differ, especially before the DAO launch.
The DAO, owning approximately half of the total supply, can decide on modifications or additional allocations post-launch.
Our goal is to ensure flexibility and adaptability to cater to unforeseen requirements and strategic changes.
DAO Supply Insights:
Immediate issuance of a significant DAO supply, like the 47% in our case, allows for a potential "no-more-mint" restriction on the ERC20 token, adding a layer of trust and security.
If the full DAO supply isn't issued upfront, it typically necessitates enabling the DAO multisig to issue more tokens in the future. This can be perceived as less secure.
Pre-issuance is likely a common approach among DAOs for these reasons.
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