$SHARK Token & Tokenomics
Last updated
Last updated
The founders of Shark Protocol are advocates of decentralization and have designed $SHARK to maximize decentralization through its distribution and operations.
More than 70% of the tokens will be distributed to the following entities:
10% of the supply was initially used to raise liquidity in $OSMO and create a $SHARK-$OSMO pool through StreamSwap (a community based launchpad) and Osmosis.
Another 10% was used to raise liquidity through the Migaloo Foundation and create the $SHARK-$WHALE pool on White Whale DEX.
10% of the supply will be distributed to various communities within the Cosmos Ecosystem via an airdrop in order to help decentralizing the ownership of the protocol and the token
Players on Shark Protocol will be allocated 10% of the tokens over 5 years which is distributed via recurring missions
$SHARK stakers and LP providers will get 17.5% of the tokens over 5 years as incentives
$SHARK staking serves as the mechanism that decentralizes Shark's operations, as there are numerous stakers involved. Without $SHARK staking, Shark Protocol would merely be a simple price prediction application. We will cover all the details in an upcoming section.
Over-the-counter deals to form partnerships with different communities and projects. These tokens will primarily be used to increase liquidity and generate additional revenues for $SHARK stakers and players. This will use around 10% of the supply.
These are just a few elements of the tokenomics and all the details are presented below.
The tokenomics was first introduced in our Medium article.
The total supply of $SHARK is 100M tokens.
Liquidity [20%]:
10% for the initial liquidity bootstrapping event
5% matched with the Migaloo Foundation’s $WHALE liquidity
5% for $SHARK-$lsdSHARK liquidity
$SHARK Staking & LP Incentives [17.5%]:
17.5% over 5 years
Migaloo Foundation [10%]:
5% for initial liquidity
5% over 2 years
Airdrop [10%]:
3.5% initially
6.5% over 3 months
Emergency Fund [10%]:
10% will be used if unexpected events happen
If nothing happens during the first 5 years, it will be distributed evenly between the $SHARK stakers and Marketing & Expenses
Marketing & Other Expenses [10%]:
5% during year 1
5% sporadically over the first 3 years
Team [10%]:
Vested linearly over 2 years
Missions [10%]:
Distributed linearly over 5 years
$RAC DAO Treasury [2.5%]:
OTC and liquidity deals
2.5% during year 1
