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 own and govern the Olive protocol truly. 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, 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.

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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.