Tokenomics
Token Supply
There will be an initial hard cap on the supply at 50,000 BLKD tokens. Subject to DAO approval, this will change as users begin to stake their tokens and the currency rebasing begins as bond sells increase the treasury's value. We take a Modern Monetary Theory approach to our governance token minting which has been coined and championed by economists Stephanie Kelton, Scott Fulwiler, and Warren Mosler, among others, and current corporate finance practices. This, paired with the allocation mechanism built into the Smart Treasury should make for an eventual stablization price that is linked to TVL and total Treasury assets or the Risk Free Value.
Fair Launch Strategy
The team is kickstarting the initial distribution with a Fair Launch for liquidity. Contribute ETH to the BLKD Pre-Sale by purchasing an Abstract Diaspora Club NFT to participate to our Initial NFT Offering! This will result in an Airdrop of BLKD tokens once the protocol is deployed but also will be a signifier of our platform's earliest supporters which will lead to future rewards and permissions within the ecosystem. The contributed ETH will be paired with BLKD tokens in our treasury and added to SushiSwap Liquidity Pools (SLPs). Note that once added, liquidity tokens will not be removed from the LP pools and will be locked in perpetuity in the Smart Treasury.
Token Allocation
65% Community: This allocation represents the total amount of initial tokens that will be distributed to the DAO community. This amount will act as the initial supply of tokens available for bond sales; kickstarting the community to begin its staking incentives and overall utility. 15% Founding Team: This will be reserved for founders and core contributors of the project. Tokens will be committed to a time-locked period of one full year from the Token Generation Event. 10% Token Sale:
Facilitated through through our initial NFT offering, proceeds from these rounds will be permanently locked into liquidity pool smart contracts on SushiSwap. From that point forward the yield-bearing LP Tokens will be held in perpetuity by the organization's treasury. This ensures that we not only have a permanent source of liquidity for users to buy and sell the BLKD token, but also have a way to effectively create a positive feedback loop of growth through an extra stream of revenue for the protocol. 10% Liquidity Pools: Similar to the Token Sale allocation, the LP pool funds will be permanently locked into liquidity pool smart contracts on SushiSwap (SLPs). These tokens will be paired with the proceeds of the LBP event. The yield-bearing LP tokens will then be held in perpetuity by the Treasury.
Once again, this ensures that we not only have a permanent source of liquidity for users to buy and sell the BLKD token, but also provides the treasury with a steady revenue source and protects every user against rug-pulls and systemic market risks that could potentially affect the token price.
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