The Alchemix team believes in the values of fair launch. The Alchemix protocol was developed independently, and the team did not take any money or tokens from outside investors for the entire period up until launch. We believe the majority of the token recipients should be those who help to contribute to the protocol. Strategic sales of tokens would be considered if it assists further development of the protocol.
ALCX is a token that grants governance rights in Alchemix DAO. There are no guarantees it has any value, whatsoever. ALCX will not have a hard-cap, but does have a carefully crafted emissions schedule. For the purpose of the token distribution, we are basing these numbers from the total expected supply after 3 years.
The token distribution will be the following:
- The Alchemix DAO will receive a premine of 15% of the projected supply after three years. Usage of these tokens and proceeds from them is completely up to the community's discretion.
- The Alchemix DAO will also have an additional reserve of 5% of the projected three-year supply for bug bounties.
- The remaining 80% of the tokens can be obtained by staking certain tokens and liquidity pool tokens in the Staking Pools contract.
- The Alchemix founders, on-boarded developers, and community developers who build on Alchemix will have access to an exclusive staking pool, which will receive 20% of the ALCX block reward. This equates to 16% of all emissions.
- Stakers and liquidity providers are eligible to obtain 80% of the ALCX block reward, equating to 64% of all emissions.
This token distribution allocates a large majority of tokens to those who contribute to the Alchemix protocol. The token distribution assures that no one from the development team will have enough tokens to control the protocol while rewarding them for their work and incentivising them to continue working on the protocol.