Update on MORE Emission Plan and Platypus Gauges
Since our V2 launch, we have reduced token emission to focus on sustainability and stability. As we enter Platypus voting gauges, our objective will be to balance sustainability with the growth and adoption of MONEY.
- Balance sustainability of MORE, and adoption of MONEY
- Win the PTParty
New Allocation of Emission: Platypus Party
Platypus is the leading stableswap AMM on the Avalanche blockchain. Stablecoins with deep liquidity on this platform will be set to be useful to the ecosystem - and we believe this will happen via Platypus, and voting gauges.
Moremoney intends to influence votes through the following holdings:
- The Protocol owns 72,860 PTP which are vesting into vePTP
- The Core Team owns ~2% of all veECD
- The Core Team owns ~3% of all LVTX
- The Core Team owns ~200,000 xPTP and ecdPTP
We also intend to direct emissions of 2,000,000 MORE per month to bribes, 500,000 MORE to the MONEY LP, and 500,000 MORE to the USDC LP, all on Platypus. We believe that these actions will make our pools on Platypus enticing, and will grow the demand and liquidity for MONEY — a priority for our community.
Monthly Emission/Allocation Schedule
MORE-AVAX LP: 1,000,000
MONEY-USDC Bribes on Platypus: 2,000,000
MONEY LP on Platypus: 500,000
USDC LP on Platypus: 500,000
Total Monthly Emission: 4,000,000 MORE
Note: MORE distribution to xMORE token holders are purchased directly from the market using protocol revenues — hence this does not affect the emission schedule.
Protocol Funds and Depletion Cycles
As of September 8 2022, the protocol’s contract address: 0xcb2fb8db0e80adf47720d48e1ae9315e7d128808 held 702,350,607 MORE which accounts for ~70% of the total supply.
As per the above distribution plan, all things being equal, the protocol’s funding wallet would be completely depleted in ~175 cycles, or approximately 15 years.