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Initial Supply and Distribution
The ELUM token will be issued on the IoTeX Root Chain with a maximum supply of 20,000,000,000 tokens minted at launch. However, the majority of these tokens will be locked and released gradually over time, ensuring controlled distribution and scarcity.
Mining rewards within the Elumicate Network are distributed based on a weight rating system. This rating is determined by various factors, including the capture device (camera) used, ownership of NFTs, staking activities, and participation in data mining and processing.
In addition to mining rewards, tokens are also allocated to the internal team, operations, ecosystem development, and treasury. However, these tokens are subject to a vesting schedule of 48 months. The vesting period means that the tokens will be gradually released over a 4-year period, starting from the 1st day of the 6th month after the launch date. Each month, 1/48th of the locked amount will be distributed.
This structure ensures a controlled release of tokens and provides long-term stability and commitment to the growth and development of the Elumicate Network. It also aligns the interests of the token holders and the project's success over an extended period.
Last modified 3mo ago