Welcome to the Official IoTeX Tokenomics Thread – here you will find information and discussions regarding IOTX token supply, allocation, unlock schedules, and other token-related topics.
What is IOTX?
IOTX is the native token of the IoTeX Network, used to facilitate governance, transactions/contracts, registration of decentralized identity (DID) for users/devices, and other network operations. The maximum supply of IOTX tokens is 10,000,000,000 IOTX.
Users of the IoTeX platform pay/stake IOTX to utilize network resources (e.g., “gas” for txns) and obtain network privileges (e.g., voting, identity). Those that maintain the IoTeX platform, called Delegates, receive IOTX for managing consensus and upgrades.
IOTX Token Supply Breakdown
The total supply of IOTX tokens are allocated across several buckets, which have different purposes and unlock schedules.
- IoTeX Foundation (25%): Drive sustainable growth of the IoTeX Network, including R&D, partnerships, advisors, grants, marketing, and more.
- Ecosystem (18%): Bootstrap initial ecosystem of IoT manufacturers and builders to maximize device registrations to IoTeX Network
- Mining Rewards (12%): Reserved for Roll-DPoS mining rewards, beginning Feb 2019 after Mainnet Alpha launch
- Community Rewards (6%): Facilitate community engagement and growth through campaigns, referrals, and more.
- Private sale (24%): IoTeX held a private token sale in Jan 2018 to 50+ non-USA accredited investors (25,000 ETH raised @ 1 IOTX = 0.0000125 ETH). All private sale tokens have been distributed as of Nov 2019.
- Team (15%): All team members have a four-year vesting period with 1-year cliff, beginning after their respective start date.
Ecosystem Tokens – Feb 2020 Update