This article is focused on tokenomics, WAVE token distribution and detailing the purpose of the allocations, allowing full visibility into the inner workings of the team and community. Users are provided with a fact based preview into the intended use cases. Below is a deeper dive into the distribution part of the tokenomics and the intended goals of each category:
• 60% -Liquidity Providers (LPs) • 9% - Treasury • 9% - Early Contributors • 8% - Team (vested) • 8% - Ecosystem Fund • 5% - Advisors (vested) • 1% - Velas Contributors
Allocation: 6 million WAVE tokens over 8 years following protocol emission schedule In an effort to highlight the fact of the Wavelength AMM commitment towards being a community initiative, majority of $WAVE will be distributed to community as an incentive for their liquidity contribution to the protocol.With the intrinsic value from beginning of transition to a community run initiative through governance via $veWAVE.
Allocation: 0.5% at project launch + 7,5% over 8 years following protocol emission schedule
The Treasury serves to provide financial support for incentives aimed at promoting the growth and sustainability of the protocol such as strategic partnerships, liquidity provision, outsourced development such as design updates and community initiatives which cannot be realised by the Team. Additionally the Treasury may be used to create POL(protocol owned liquidity) and ensure stable monetary policy during times of intense volatility. The Treasury will be guarded under the governance of the multi- sig consisting. In the later stages, governance will be transitioned to the community in the form and upon implementation of $veWAVE.
Allocation: 9% at project launch, locked in LP for 6 months
900,000 WAVE tokens will be paired with VLX liquidity
Early Contributors represent long term Velas community participants, those who have been working to improve the DeFi ecosystem of Velas. These stake holders participate in the form of bootstrapping the liquidity pools of $WAVE, providing liquidity at 0.30 per token, allowing the community to participate in the inception of the protocol at cost basis.
Allocation: 4% at launch + 4% vested over 6 months
The Ecosystem Fund will be used for the purpose of ecosystem development specifically on the Velas blockchain.This would include collaborating with new protocols launching on Velas, allocating rewards and liquidity to support their growth. While the fund is aimed at entering in collaborative dynamics with ecosystem participants, it will do so in the interest and with the consensus of the Wavelength community.
Allocation: 800,000 WAVE vested over 19 months, ~42,105 WAVE tokens per month
As the technical force driving the development of the Wavelength AAM, the development team received 8% for the codebase of the protocol and as an incentive towards protocol maintenance work post launch. The team implements the goals listed in the roadmap and is at the heart of the community interaction with the codebase of the protocol. Should the development team were to ever decide to leave Wavelength to pursue another endeavour, the Team allocation will be transferred to the new team chosen by the community and follow the remaining vesting.
Allocation: 500,000 vested over 12 months, ~41,666 WAVE tokens per month
Advisors have provided Wavelength with their business and DeFi expertise combined with supporting resources. Additionally, advisors contribution was also provided via aid in the tokenomics design and communication with Velas in the best effort to ensure a successful launch of Wavelength. The allocation received by the advisory team will continuously be added to WAVE/VLX liquidity pools until a price and liquidity equilibrium is reached. This means the Advisors have a liquidity commitment towards the growth and the best interest of Wavelength AMM by deepening the liquidity of $WAVE.
Allocation: ~3,333 WAVE tokens per member to 30 members, 100,000 WAVE tokens total. Distributed at launch, non-vested
This allocation was distributed to the Velas Foundation for their commitment to the success of the project and as gratitude for the collective effort. These tokens will be airdropped to 30 addresses of members who continuously provide support for the Velas ecosystem hosting the Wavelength protocol. The foundation encourages members to commit their allocations to starting liquidity.
Purpose: Community Development, A token of gratitude for all of the support provided to a successful launch, Receivers are committed to the success of the project.
The aim of this article is to highlight that WAVE token distribution is designed with transparency, sustainability, and value in the blueprint. Detailed information on the contract will be added as of 26.10.22 following the launch. We encourage our community to monitor the launch sequence of the protocol both through our information channels and the block explorers to validate the above mentioned commitments.
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