Token Allocation
Initial token allocation
The Service Nervous System (SNS) will be initialized with 1 billion BITO tokens allocated in the following proportions.
SNS Swap
Allocating 12% of the total BITO token supply for public sale will support Bitomni's decentralized governance and fundraising for its SNS. Participants will contribute ICP tokens to the SNS during this sale, and in return, they will receive BITO tokens proportional to their contribution relative to the total ICP collected.
Upon completion of the sale, each participant will be allocated their BITO tokens in the form of five neurons, each containing an equal value of tokens but with varying degrees of liquidity:
1. Immediate Liquidity Neuron: The first neuron will have a zero dissolve delay, allowing participants to convert their holdings into liquid BITO tokens immediately upon receipt.
2. Staggered Liquidity Neurons: The remaining four neurons will have dissolve delays set at 3, 6, 9, and 12 months, respectively. This structured approach ensures both short-term liquidity and long-term investment in the governance of the Bitomni ecosystem, reflecting a balance between immediate utility and sustained support for the protocol’s development.
Developer Team
The founding developer team will be allocated 10% of the total BITO token supply, distributed equally across five neurons. Each neuron represents an equal share of the total allocation and features a one-month dissolve delay. Additionally, these neurons are subject to staggered vesting periods to align the developers' incentives with the project's long-term success. The vesting periods for these neurons are set at 0, 1, 2, 3, and 4 years, respectively, providing a structured release of tokens to the founding developer team over time. This approach ensures a gradual and balanced contribution to the ecosystem's stability and growth.
Airdrop
To foster early community engagement and interaction, 1.0% of the total BITO token supply will be dedicated to an airdrop prior to the official launch of the Bitomni SNS. This airdrop aims to recognize and reward the community's active participants. A portion of these tokens will be allocated to Bitomni NFT holders who have significantly contributed to the community by participating in, hosting, or promoting our events and products. The remainder of the airdrop tokens will be distributed to users who have actively engaged with our BitoBridge DApp, rewarding their involvement and support in the early stages of the project's development. This strategic airdrop serves to incentivize and reinforce valuable community interactions and DApp usage.
The airdrop is scheduled to occur following the successful establishment of the Bitomni SNS, ensuring that the foundation of our governance structure is solid before rewarding community engagement. This part of the BITO token has a one-month dissolve delay.
SNS Treasury
Following the decentralization sale, the Bitomni SNS will control a treasury comprising 77% of the total BITO tokens. This substantial reserve will primarily be utilized to incentivize community engagement and growth through user rewards. Contributors who positively impact Bitomni’s development will receive rewards from this pool. Additionally, the treasury will fund community bounties through SNS proposals, compensating individuals for broader contributions to the Bitomni ecosystem, such as third-party development, code contributions, and bug hunting.
A smaller allocation, approximately 2%, is designated to establish initial liquidity pools on decentralized exchanges (DEXes), which is essential for enabling BITO token trading. Initially, BITO will be listed on IC-based DEXes, with plans to expand to centralized exchanges (CEXes). To facilitate trading, it will be necessary to pair BITO with another token, such as ICP, which was acquired during the decentralization sale. For each DEX and CEX listing, specific proposals will be required to transfer the requisite BITO and ICP or BITO amounts from the SNS treasury to the respective DEX or CEX, respectively, to provide liquidity. This strategic placement of BITO on multiple exchanges aims to enhance the token's accessibility and market presence.
The plan for the SNS treasury is discussed in the next section.
Last updated
