IDV Tokenomics: Release Rules
In this article, a description of Idavoll Network’s governance token IDV’s release rules will be provided in the following:
Miner Incentive (25%)
A total of 500,000,000 IDV will be issued. Mining is divided into two parts, of which 300,000,000 IDV is used for governance rewards and participation in Polkadot network testing, parachain pallets integration and related interacting token liquidity provision. Also a proportion of mining will be rewards for participation in proposals, governance, liquidity provision and management. The remaining 200,000,000 IDV is used for block producing rewards for participating in PoS consensus algorithm.
Private Sale (25%)
A total of 500 million IDVs. Private equity lock-up in the third quarter, 80% of the funds raised will be invested in the continuous development of the technology community, and 20% will be invested in the operation and maintenance of the platform
Founding Team (15%)
A total of 300 million IDVs. Used to motivate the founding team. The part of the team will be linearly unlocked quarterly within three years after the mainnet launch. Mainnet plans to launch at 2021 Q3.
Foundation Reserve (15%)
A total of 300 million IDVs. Used for the daily operations of the foundation. This part will be linearly unlocked quarterly within two years from 2021 Q1.
Ecosystem Incentive (20%)
A total of 400,000,000 IDV will be used for business cooperation, traditional inbound industry partners, community development, airdrops and subsequent parachain slot auctions, which are beneficial to ecological development. Starting from Q1 in 2021, ecosystem reserve will be unlocked on a quarterly basis within two years.
The early circulating volume of IDVs are mostly from early seed, strategic and private investors along with retail token purchasers from the secondary market. Also, token released from the Foundation Reserve and Ecosystem Incentive was used to stimulate the liquidity on the market. Idavoll Network was one of the first projects to be connected to Polkadot — Rococo’s testnet and completed the design of the first version of the product. During the progress, Idavoll collaborated with many Polkadot ecosystem partners such as Kylin Network, TrustBase, Equilibrium, etc. Many activities was taken place in conjunction with the trading platform as well.
Idavoll Network was initially established since October of 2020. Idavoll Network is a decentralized organization platform that provides infrastructure and services to users of the Idavoll Network and Polkadot Parachains. Idavoll Network’s early investors include Magnus Capital, Gains Associates, DFG, Gate.io, Spark Digital Capital, etc. Idavoll Network is listed on Gate.io, Coinone. The token expenditure for Idavoll Network are mainly for technology development, community establishment, token utility supply, etc.
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