Initial Token Allocation
Last updated
Last updated
The SNS will be initialized with 100 million BR23 tokens allocated in the following proportions:
Decentralization Sale (Community + NF)
25%
SNS Treasury
54%
Founding Team
10%
Early Investors ( also F&F and Seed)
9%
Airdrops
2%
25% of the total supply (25’000’000 BR23) will be put up for sale to decentralize the governance and raise funds for the SNS.
The maximum target raise is 200,000 ICP and the minimum target is 100,000 ICP.
An additional tranche of ICP will be provided by the community fund in accordance with Dfinity’s matched funding algorithm. The calculations done with the given tool shows a Neurons' Fund Matched Funding between 77’000 ICP and 83’333 ICP.
Each participant will receive their BR23 as a basket of 5 equal value neurons. The first neuron will have a zero dissolve delay and so be immediately disbursable to liquid BR23 tokens. The other neurons will have dissolve delays of 3, 6, 9 and 12 months respectively. Each Neuron Fund participant will also receive their share of tokens as a basket of 5 neurons with the same configuration.
Participants in the decentralization sale will deposit ICP into the SNS and once the sale has completed they will receive the same proportion of BR23 tokens as their share of the ICP deposited.
Bridge23 has been developed by a team of 3 co-founders. Founding members will receive each of the BR23 tokens, as a basket of 5 equal value neurons.
The founders will not have access to any liquid tokens immediately after the SNS sale, with all the tokens having a vesting period at that time.
Each neuron will have a dissolve delay of 1 month but with an additional "vesting period" of 0, 1, 2, 3, and 4 years respectively.
Seed funders (early investors, friends & family, private round) will receive 7% of the BR23 tokens as a basket of 4 equal neurons each with a dissolve delay of 1 month and with "vesting periods" of 6, 12, 18, and 24 months respectively.
If a neuron has a "vesting period" it cannot be touched until the period is over (and that includes increasing the dissolve delay). This ensures that the founders/funders cannot rug-pull investors and provides an ongoing incentive to make the project successful.
As these founder/funder neurons all have a relatively short dissolve delay of 1 month which cannot be increased, this ensures a reduced voting power compared to the community so that governance is properly decentralized.
2% of token supply will be allocated to our first airdrop. Early adopters on our waitlist will be eligible to receive an airdrop of BR23 tokens for completing tasks and engaging with content on the platform, during Alpha & Beta.
Airdrop recipients will receive their tokens via a neuron with 6 & 12 months delay, meaning they will not immediately receive BR23 tokens.
After the decentralization sale, the SNS will retain a treasury consisting of the remaining 56% of BR23 tokens.
The majority of these tokens will be used over time to automatically reward users who contribute positively to Bridge's growth. Additionally, these tokens will be available for community bounties, as determined by SNS proposals, to compensate individuals who make significant contributions to Bridge23 DAO. This includes rewards for third-party developers who contribute code enhancements.
More details on how we will use the treasury funds in the related section.