Everything you want to know about OLIVE Tokens and the key timelines
OLIVE is Olive's native protocol token and is issued by Olive DAO.
The OLIVE token will be a standard ERC-20 token on Ethereum.
Token Generation Event (TGE): TBD
The OLIVE token is a utility and governance token that allows the Olive Community to truly own and govern the Olive protocol. As such, holders of OLIVE tokens accrue voting rights proportional to their holdings. OLIVE aligns incentives between the Team, Community, Traders, Investors and Partners of the Polysynth ecosystem by enabling shared control.
OLIVE tokenomics enables robust governance to drive future growth and decentralise the Olive protocol. OLIVE token finds its utility in protocol governance (casting a vote or creating a proposal).
Their distribution is as shown below:
To achieve our goal of fair and distributed ownership and decentralization of the protocol, we have designed our tokenomics and community program to give everyone in the Olive community a fair chance to own OLIVE by contributing to the protocol's growth.
Olivers will have full control over how the community allocation is used.
The total OLIVE supply is set at 1,000,000,000. The token supply can be inflated via three mechanisms:
- Community rewards beyond 400,000,000 OLIVE tokens
- Governance may decide to mint more tokens, which has a very low chance of occurring
The below chart shows the token release schedule assuming the vesting schedule as given in the distribution table above. Foundation reserve tokens are assumed to be locked up for the 1st year and then vesting linearly over 4 years.
Token Release Schedule
- Seed Sale: August 2021
- Strategic Sale: December 2021
- Private Sale: TBD
- Token Generation Event: TBD
- Public Sale: TBD
- Exchange Listing: TBD