OLIVE Token

Everything you want to know about OLIVE Tokens and the key timelines

This section is for informative purposes only and should not be considered as investment advice.
Overview
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
Be careful with anyone offering OLIVE tokens until TGE. They may be scams.
The OLIVE token is a utility and governance token that truly allows the Olive Community to 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 Olive 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).
Token Distribution
A total of 1,000,000,000 OLIVE tokens will be minted. 
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.
Once the whole community tokens are exhausted, the community can mint new tokens with a time-lock of 28 days and clear utility for those tokens to ensure the community has the resources to continue growing the protocol.
The community will have full control over how the community allocation is used.
OLIVE holders are called Olivers.
Distribution Table
Category
Description
Seed Sale
59,680,000 OLIVE Token (5.968%) @ $0.025/token
Tokens reserved for seed investors
Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Series A Sale
100,000,000 OLIVE Token (10%)
Tokens reserved for private round investors
Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Strategic Sale
40,320,000 OLIVE Token (4.032%)
Tokens reserved for strategic investors such as Liquidity Providers, DeFi Influencers and other strategic partners
Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Public Sale
20,000,000 OLIVE Token (2%)
Tokens reserved for public sale through Launchpads &  Buy program
Tokens will have linear vesting over 1 year.
Community
350,000,000 OLIVE Token (35%)
Tokens reserved for community rewards.
Tokens will have linear vesting over 1 year.
Foundation Reserve
100,000,000 OLIVE Token (10%)
Tokens reserved for future growth capital rounds, community grants, network growth, partnerships, liquidity provisioning etc.
Vesting to be decided at the time of distribution and based on nature of usage.
Founding Team
200,000,000 OLIVE Token (20%)
Tokens reserved for the founding team
Tokens will have a 1-year cliff followed by daily vesting over 3 years.
Team Performance Incentive
100,000,000 OLIVE Token (10%)
Tokens reserved for current and future employees, consultants, and contractors.
Tokens will have a 1-year cliff followed by daily vesting over 3 years.
Advisors
30,000,000 OLIVE Token (3%)
Tokens reserved for strategic advisors to the protocol.
Tokens will have a 1-year cliff followed by daily vesting over 3 years.
Maximum OLIVE supply is set at 1,000,000,000.
Token Release Schedule
The below chart shows the token release schedule as per the vesting schedule outlined in the distribution table above. For modelling purposes, community and public tokens are assumed to vest daily over 48 months. In reality, it will be further delayed due to reward capping and purchase schedules. Foundation reserve tokens are assumed to be locked up for the 1st year, followed by daily vesting over 3 years.
Key Timelines
Seed Sale: August 2021
Strategic Sale: December 2021
Private Sale: TBD
Public Sale: TBD
Token Generation Event: TBD
Note: Details about the rounds, key timelines et al. are indicative in nature and subject to change in the future without prior intimation based on discovering new facts and information or because of factors outside our control such as market sentiments, feature launch timelines, trading volumes, competitive & legal landscape, etc.

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Category	Description
Seed Sale	59,680,000 OLIVE Token (5.968%) @ $0.025/token Tokens reserved for seed investors Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Series A Sale	100,000,000 OLIVE Token (10%) Tokens reserved for private round investors Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Strategic Sale	40,320,000 OLIVE Token (4.032%) Tokens reserved for strategic investors such as Liquidity Providers, DeFi Influencers and other strategic partners Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Public Sale	20,000,000 OLIVE Token (2%) Tokens reserved for public sale through Launchpads & Buy program Tokens will have linear vesting over 1 year.
Community	350,000,000 OLIVE Token (35%) Tokens reserved for community rewards. Tokens will have linear vesting over 1 year.
Foundation Reserve	100,000,000 OLIVE Token (10%) Tokens reserved for future growth capital rounds, community grants, network growth, partnerships, liquidity provisioning etc. Vesting to be decided at the time of distribution and based on nature of usage.
Founding Team	200,000,000 OLIVE Token (20%) Tokens reserved for the founding team Tokens will have a 1-year cliff followed by daily vesting over 3 years.
Team Performance Incentive	100,000,000 OLIVE Token (10%) Tokens reserved for current and future employees, consultants, and contractors. Tokens will have a 1-year cliff followed by daily vesting over 3 years.
Advisors	30,000,000 OLIVE Token (3%) Tokens reserved for strategic advisors to the protocol. Tokens will have a 1-year cliff followed by daily vesting over 3 years.