Distribution/ Tokenomics

Supply

Polly will have a Max total supply of 25B tokens. There will be no pre-minted tokens, thus preventing a major price discovery of the governance token prior to the launch of its distribution. At the end of the farming and vesting period 12.5B tokens will have been distributed, allowing for future incentive programs beyond the 6 years already planned.
For every 1 token minted through farming an additional 0.5 tokens will be minted and distributed accordingly (or β…“ of the supply). These tokens will have the same lockup % and period as farmed tokens.
  • 0.1 for development costs, which may include but is not limited to paying developer wages and bounties, covering infrastructure and operational costs related to technology or development.
  • 0.25 to BAO holders over a long period, exact details still to be confirmed, but likely via a BAO staking mechanism
  • 0.05 for a BAO community owned vault
  • 0.1 for founders - the community galaxies who made this happen.

Distribution

The below schedule is based on Polygon block times, which are not fixed. Small changes in block times multiplied every block over 6 years can add up to a fairly significant change in timelines.
The below chart shows the token distribution over time. The β€œtreasury” portion represents the 0.5 additional tokens minted and distributed as above while the Total Polly Minted represents farmed Polly tokens and the unlocked Polly Total represents the number of unlocked tokens from farming.

Vesting period

Polly will unlock 25% of harvested tokens to help smooth the circulation as we will launched with nDEFI already burning tokens from day 1 and other nests and products following. The remaining 75% will be locked. Those tokens will remain locked until Polygon block 34652736, approximately 1 year from the start of farming and will unlock in a linear fashion until block 113492736, roughly 6 years from the start of farming.
Any tokens earned after that start of the unlock would continue to be proportionally added to the linear distribution. Any tokens earned after the end of the distribution would be instantly unlocked.
Last modified 2mo ago