# Exorde token issuance

By [adventer777](https://paragraph.com/@adventer777gmail.com) · 2023-01-16

crypto, web3, exorde, exordelabs , exd, protocol

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![](https://storage.googleapis.com/papyrus_images/694bababfd43d9f26213d32f332034f0.png)

Exorde's own service token, EXD, is based on the ERC-20 standard, and token issuance is done using a binding system implemented with a smart contract. The EXD token will be issued and created in two stages:

  1) Initial Token Distribution event

  2) Initial Bonding Curve Offer.

  During the Initial Token Distribution event, EXD tokens will be minted and distributed to various entities (Initial Investors, Partnerships, Founders, Advisors, Protocol Rewards, Community Rewards Program, and Liquidity Pooling).

  The remaining EXD tokens will be created using the Bonding Curve, replacing the traditional ICO phase. When the initial placement phase of the Bonding Curve is over Bonding curve, the curve will begin, providing a constantly available system to buy new tokens. (When someone buys, the system mints new tokens and symmetrically destroys them when someone sells.)

IBCO has the following rules:

\- Open to participants from permitted jurisdictions that have passed the KYC process.

\- Starts with the offering phase, which can be thought of as an ICO. This phase determines the initial starting price on the curve.

\- Tokens purchased from IBCO, after the incubation phase, do not have an expiration date or transfer, they can be immediately claimed, transferred or sold back into the system.

\- When tokens are purchased from the system, new ETH tokens are created, and the token price increases, when tokens are sold back into the system, the ETH tokens are destroyed and the token price decreases.

\- The Bonding Curve is based on the Bancor∗ continuous liquidity protocol. Read the Bancor Technical Paper here

\- There is no fixed hard limit on the number of tokens, unlike traditional ICOs that can be minted using the Bonding Curve. However, there is a practical limit set by the market. Indeed, the linear growth of token issuance leads to an exponential increase in the value of tokens. The supply of tokens is expected to reach equilibrium, depending on current supply and demand.

Website: [https://exorde.network/](https://exorde.network/)  
Twitter: [https://twitter.com/ExordeLabs](https://twitter.com/ExordeLabs)  
Discord: [https://discord.gg/ExordeLabs](https://discord.gg/ExordeLabs)

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*Originally published on [adventer777](https://paragraph.com/@adventer777gmail.com/exorde-token-issuance)*