Since our soft launch, we embarked on a mission to distribute a reasonable amount of MORE, the protocol governance token to early adoptoors and liquidity bootstrappoors. Now we are moving from a period of bootstrapping to one of sustainability.
- Token emission reduction
- Allocation to farms
- xMORE and veMORE plans
As of 3rd of Feb 2022, when the proposal on emission plan was shared with the community, the Protocol’s contract address: 0xcb2fb8db0e80adf47720d48e1ae9315e7d128808 held 731,425,607 MORE which accounts for 73.1426% of the total 1B supply of the protocol’s governance token.
Purpose of The Protocol’s Wallet
The main purpose of the tokens assigned to the protocol multisig wallet is to incentivise long term growth and adoption of all Moremoney products. To accomplish the goal of rewarding “healthy growth and adoption”, we have carefully discussed (taking into consideration community feedback) and arrived at what we believe is a healthy approach to achieving the objective.
Proposed Monthly Allocation: 4,050,000 More Token
Incentivising LPs and farms:
- Trader Joe MORE-AVAX Farm: 56.3% (2,000,000 MORE).*
- Curve Money-av3crv Farm: 28.2% (1,000,000 MORE)**
- Pangolin AVAX-MONEY Farm: 7.04% (250,000 MORE)
- Trader Joe AVAX-MONEY/MONEY-USDC Farm (Launch date TBD): 5.63% (200,000 MORE)
- MORE Staking: 2.82% (100,000 MORE)
*This farm reward will continue to be distributed on trader joe for the next 30 days.
**The current farm ends on March 8 and we will be reconsidering our options in regards to rewards mechanics and vesting.
Protocol Funding Wallet Depletion
As per the above distribution plan, all things being equal, the protocol’s funding wallet, which presently holds 731,425,607 MORE, would be completely depleted in 180.5989 cycles. (Approximately, 15 Years).
To learn more about upcoming plans for xMORE and veMORE, keep an eye out for our next medium post!