TOTW №17: IoTeX Tokenomics Plan

#1

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Hello, IoTeX community!

Throughout June, after the Mainnet GA launch, we released our new and innovative design of Tokenomics.

In Part 1, we explained the utility of the IOTX coin. In Part 2, we introduced the DAO-based tokenomics design. In Part 3, we shared how the “Powered by IoTeX” ecosystem will be bootstrapped.

For this week’s discussion, please share your overall impression of the tokenomics design and any feedback that you may have.

:pushpin: Submit your answers by Wednesday, July 1, 1 AM PST to be eligible for rewards

:moneybag: Rewards: All of the eligible answers will receive 300 IOTX EACH + all of the participants will be entered in the community scoreboard for June
{Make sure to include your Telegram ID}

You can post more than once but make sure to share different stories/use cases, do not duplicate posts. Feel free to comment & reply to posts from other community members.

11 Likes
#2

I liked the Iotex solution on the balance of tokens between Delegates, Stakeholders, Builders, Service Providers and Consumers. I want to see the percentage distribution between these profiles.
Will Iotex focus on any particular industry or the entire market when developing Internet of Things devices?
I liked the Burn-Drop idea, but I suppose that uniformly decreasing burning curve is more attractive for the mass consumer.
I believe that Halo Grants and Referrals Program will draw more attention to the IoTeX platform and wish all the best.

tg name: TW4Ys

8 Likes
#3

What a huge work you have done! Hope everything will work well and the IOTX use-cases amount will be constantly raising. (Tg: @dahaucap)

4 Likes
#4

A well crafted tokenomics I must commend. The overall tokenomics (part 1-3) pretty much align with each other. The $IOTX utility that was explained in part 1 was very precise to each spe cific problem solving.

The burn-drop idea in part 2 is quite an awesome method of token burn, to be triggered once powered by IoTeX devices reach 1million obtainable in 10 diffetent phases. The halo and referral program will certainly help facilitate mass adoption of IoTeX technology and $IOTX. Awesome Tokenomics!!!
@O_Rosy

7 Likes
#5

All the tokenomics series are vital and work together for the solid building, development and sustaining the entire IoTeX ecosystem and IOTX coin.
The tokenmics series showed that IoTeX is endowed with the best team who are committed to the vision, mission goal and objectives of IoTeX.
I believe with all these moves, IoTeX and her coin IOTX is closer to achieve the set goal earlier than expected, also will soon become an household name in IoT ecosystem and in the entire world at large.

Telegram Id: @tadex01

5 Likes
#6

All three articles fully describe the work system IOTX coin!
As I noticed, the community very positively took the third part - the coin burning.
In general, we have been waiting for this information very long time since the launch of Mainnet GA!

@Artanovskaya

4 Likes
#7

Ofcourse in all parts of IoTeX Tokenomics Plan that carefully written, it’s obvious the effort, precision and genius for design this ecosystem, most what caught my look is the ability to “send payments by both humans and machines” It would really make it possible to facilitate processing payments.
also decreasing total supply of IOTX with every new “powered by IoTeX” that increasing value for the coin , indeed so special and brilliant idea.

my impression is “You’re on the right road for arriving to the top”

TG username: @Polato

4 Likes
#8

Well detailed tokenomis from its utility plan to the bootstrapped strategy. Very much practicable and not just an abstract that even a novice would understand the core vision of the IoTeX project and how articulated the team are.

The three parts of the tokenomics has successfully answered most if not all the questions that relates to IoTeX coin which was the primary objective of the whole plan. With a tokenomics like this, any deal can be reached without much glitch. The team nailed it.
@Free_ibelieve

5 Likes
#9

I really like all the articles, each of them describes the process in detail. Especially I like the algorithm for coin burning! This should increase the coin price and take the development of the project to a new level!

@SaleAccSF

2 Likes
#10

The various uses of IOTX is highly welcome, it is the best innovation to drive the price of the coin, it also a good implementation to canvas for builders, service providers, and consumers to interact in a decentralized fashions as this will have consequential effect on the governance, consensus and tokenomics on the Iotex network.

The plan of Iotex in reserving 18% of the total IOTX supply to be used to bootstrap the Powered by IoTeX ecosystem and incentivize device builders, service providers, and the consumers is the best initiative, and the Burn-Drop, Halo grants and Referrals all will culminating in improving the price of the IOTX coin.

Telegram ID- @SangosanyaM

3 Likes
#11

IOTX is the best Utility Token. But, it needs adoption. We are started seeing the demand with Ucam, staking and when other smart devices delivered, it will have huge demand. Long way to go.

As of now, staking is with ioPay. if it is possible to stake in Binance, etc… it will increase the demand.

TG: @murugan25589

3 Likes
#12

IoTex Tokenomics is well planned. It is creating more utility and demand for the IOTX. Utility with Governance, Gas fee, Burn and Stake services. I think, we are looking ahead some good opportunities when we release more products. All the best team,

Tg: @devaraj8717

1 Like
#13

firstly, IOTEX tokenomics part1-3 are outstanding, the pattern and structure are well placed and the designs are robust.

This tokenomics will take IoTex far but there is still need for a good marketing/strategy, so that this tokenomics potential can be fully harnessed.

@Kitotac

3 Likes
#14

My overall impression of the IoTeX tokenomics Part 1 to part 3, is ‘‘Brilliant!!!, Well architectured’’.
As an evidence, the part 3 of tokenomics which is burn-drop boosted the value of IOTX.

Also a strategy must be put in place to maintain the tokenomics.
@JessiSam

3 Likes
#15

Two remarks and suggestions for the team

FIRST PART

I propose to consider the possibility of changing the structure of Coin Burning for connected devices.
It seems to me that in the first non-several fases, especially in the very first and second. We will burn a lot of coins (which is probably not as reasonably many as we will burn in the final phases, when we will have connected more than a hundred and even a million devices !!!)
We need to stimulate the final phases, with a large number of tokens to be burned in the last and main phases.

Below I gave an example of how this can be done.
Thus it turns out:

  • we reward early participants
  • and do not forget about the newbie (futurest),
  • and also emphasize that hundreds of thousands of devices are more important than 2-3 thousand devices
    !
    Table of new Structure Burn-Drop
    Burn-Drop|690x346

SECOND PART

Now on to the Halo Program

Can create a separate section on the Halo page, how much is available in the token fund, on which projects will be spent and the like
So that the community can track and decide on the importance of programs for the project.
In the future, at the expense of some programs will the community make its own decisions?))
For these purposes, let them gradually familiarize themselves with and discuss how to usefully distribute funds for projects, which ones are better to approve now, and which ones should be temporarily suspended and launched later, if it will be beneficial for the project and so on.

TG @Leonid_LEO83

4 Likes
#16

Coin burning from the start is really impressive, good idea. As for other ideas of future of IOTX, it is good, expecting the entire realization of it, including all small tasks like information display, etc.

Telegram… @bez_nicka

4 Likes
#18

I’m no economist, but with the little knowledge that I have about it, I must say that the team did a great job at structuring the IoTeX tokenomics, highly feasible. The DAO plan showcased how IoTeX network will operate in a transparent manner. Very much impressive, exclusively what users look for in a project.
@R_emerald

2 Likes
#19

The iotex tokenomics design is one of a kind, the referral program will welcome new consumers to the IoTeX network, and the iotex community will help drive the publicity and sales of powered by iotex devices.
Good one IoTex. :+1:

@GiftyA

3 Likes
#20

the tokenomics designs is good and unique in each stage(part1 to 3) that interprets fair, transparent, trusted and decentralized network/ecosystem.
And as time goes on IOTX Utility expands.
Impressive!!!

@ShedrachC

2 Likes
#21

Impressive indeed,
The summary of the tokenomics design in my own opinion ensures the growth and decentralized operation on IoTeX blockchain / platform.
And this design will definitely go a long. keep it up guys :+1:

@SongofJ

1 Like