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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 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).

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, a perpetual inflation rate of 2% has been envisioned for the community, ensuring the community has the resources to continue contributing to the protocol.
Olivers will have full control over how the community allocation is used.
OLIVE holders are called Olivers.

Distribution Table

Lot
Description
Seed Sale
  • 51,400,000 OLIVE Token (5.14%) @ $0.025/token
  • Tokens reserved for seed investors
  • Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Strategic Sale
  • 38,600,000 OLIVE Token (3.86%)
  • Tokens reserved for market makers, KOLs, exchanges and other strategic partners
  • Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Private Sale
  • 50,000,000 OLIVE Token (5%)
  • Tokens reserved for growth investors
  • Tokens will have a 1-year lock-up followed by daily vesting over 3 years.
Public Sale
  • 10,000,000 OLIVE Token (1%)
  • Tokens reserved for public sale through launchpad
  • Tokens will have a 3-months lock-up followed by daily vesting over 3 months.
Community
  • 400,000,000 OLIVE Token (40%)
  • Tokens reserved for community rewards such as trading rewards, staking, liquidity mining, airdrops etc.
  • Tokens will have 3 months lock-up followed by daily vesting over 3 months.
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
  • 50,000,000 OLIVE Token (5%)
  • Tokens reserved for strategic advisors to the protocol.
  • Tokens will have a 1-year cliff followed by daily vesting over 3 years.
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

Token Release Schedule

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

Key Timelines

  • Seed Sale: August 2021
  • Strategic Sale: December 2021
  • Private Sale: TBD
  • Token Generation Event: TBD
  • Public Sale: TBD
  • Exchange Listing: 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.