Emission and Vesting Schedule
Last updated
Last updated
As a BRC20 token, the full supply of 21,000,000 tokens is minted at once and is not mined or released over time by a smart contract. Instead, tokens are either immediately distributed or held in a multi-sig wallet controlled by the OrdinalsBot core team and distributed according to the below emissions details. The team will release a portal for tracking all vesting emissions, which will be distributed monthly and claimable through our platform.
The following token allocations unlock immediately and have no vesting period:
Public Sale
Treasury, Immediate Unlock Portion
The remainder of tokens unlock, emit, or vest over time:
Airdrop: Unlocked in three tranches, no vesting, expected at least three weeks after TGE
Team: 33-month linear vesting, beginning 3 months after TGE (36 months total), no cliff
Advisors: 33-month linear vesting, beginning 3 months after TGE (36 months total), no cliff
Private Round 1 & 2 Investors: 27-month linear vesting, beginning 3 months after TGE (30 months total), no cliff
Treasury, Extended Unlock Portion: 30-month linear vesting, beginning 30 months after TGE (60 months total), no cliff
Reward Actions: 60-month linear emissions rate, beginning at TGE
Hodling Rewards: 60-month constant percentage of circulating supply (linear inflation rate), beginning at TGE
ITWVD (Insider & Treasury Weighted Vesting Duration) measures the length of time for insiders and treasury tokens to vest, weighted by the portion of tokens that unlock each month. For example, a 36-month linear vesting with a 6-month cliff has a Weighted Vesting Duration of 18.9 months. The TRIO token’s ITWVD is 23.3 months, indicating insider vesting for TRIO is within industry best practices, and slightly more favorable for token holders than all insiders and treasury having a 36-month linear vesting period.
VAPA (Vesting-Adjusted Public Allocation) measures how much of the circulating supply is available to non-insiders by the time insiders have mostly vested (i.e. by the time the ITWVD has elapsed since TGE). A VAPA that is much smaller than the total public allocation indicates insiders largely vest their tokens before publicly allocated tokens are emitted. The TRIO token’s VAPA is 36.1%, roughly in line with the token’s public allocation of 38%, indicating that insiders do not disproportionately unlock or vest tokens relative to how quickly public allocations unlock or vest.
For more details on the token allocations and emissions, see this spreadsheet.
The TRIO token airdrop is based on historical user activity before the snapshot taken on February 13th, 2024, and to holders of select NFT and Ordinals collections. The airdrop rewards organic users of the product and active collectors expected to be future users of the OrdinalsBot platform. Airdrop allocations have been optimized for reducing whales and achieving a wider community distribution.
The total of 6.5% of tokens allocated to the airdrop (1,365,000 tokens) breaks down as follows:
20 NFT & Ordinals Collections, first 100 owners to claim: 150 tokens each (300,000 tokens)
Satoshibles, first 400 owners to claim: 125 tokens each (50,000 tokens)
Repeat recipients of OrdinalsBot inscriptions prior to the snapshot (11,853 unique addresses) each receive an airdrop ranging from 16 tokens to 155 tokens (1,015,000 tokens)
Any airdrop rewards that remain unclaimed 12-months after claims go live will be forfeited and added into future Hodling Reward tokens.
Due to the lack of native smart contract functionality on Bitcoin L1, Hodling Rewards are used to approximate staking rewards and are batch-distributed to eligible addresses on a monthly frequency.
For tokens to be eligible for earning monthly Hodling Rewards, they must not have moved or been transferred within the past month. In other words, only a user’s minimum balance during the past month is eligible for earning Hodling Rewards.
Each address’ share of the total monthly TRIO Hodling Rewards is based on their pro-rata share of eligible tokens of all addresses. There will be a 12-month claiming period following the release of each month’s Hodling Rewards, and any unclaimed tokens after the claim period will be forfeited and used to distribute future Hodling Rewards.
In addition to earning TRIO emissions as Hodling Rewards, eligible addresses also are randomly eligible to earn additional tokens, BRC20s, and other prizes in weekly and monthly rewards.
The OrdinalsBot team has accumulated more than 450 million Pizza sats and TRIO Hodlers will receive these tokens periodically as claims through the platform.
Rewards are randomized to ensure they are provably fair.
Due to the lack of native smart contract functionality on Bitcoin L1, Reward Actions are batch-distributed to loyal users on a monthly frequency.
As their name implies, Reward Action emissions reward users for taking certain actions within OrdinalsBot’s ecosystem of products. Each of the below actions is assigned a score, and each month when an address performs the associated action its total score increases by the corresponding value.
Mint a Collection Item (Launchpad)
1
Mint a Fungible Token (Launchpad)
1
Inscribe a File
1
Sell a Collection Item
1
Launch a Collection
100
Trade $100 on Trio Marketplace
10
List Premium Collection Item on Trio Marketplace
10
Additional actions will be added over time
1 - 100
At the end of the month, each address’s total score is calculated as the sum of the scores for every reward action they completed during the month. Each address is eligible for a pro-rata share of Reward Action tokens based on the total sum of scores across all active addresses for that given month.
Each month is a standalone event, meaning address scores reset to 0 for the next month.
The scores for each reward action, including adding or removing actions from the list of rewarded actions, can be updated by a governance vote.
