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Token Emissions

Newly minted $CHIRP tokens are attributed to the network participants and distributed as per the below schedule. The token emissions are reduced by a factor every two years, to generate increasing scarcity as the economy grows.

Token Emissions

Given the need to have liquidity at an early stage for the purpose of token listing and general operational activities, the equivalent of 10% of the token supply will be pre-minted and controlled by the treasury.

The emissions will follow the below distribution schedule, with a decreasing percentage of emissions being distributed to Network Keepers via proof-of-coverage. As a result, over time a higher percentage of emissions will be allocated to data transfer as a way to reflect higher network adoption, resulting in a healthier economy.

Schedule

Network Keepers​

Users providing gateways for network coverage receive token emissions for two reasons: 1) providing coverage and 2) for the data transferred through the gateways. Emissions for proof-of-coverage diminish through time, as an incentive to increase network coverage in the first stages of development of the network.

On the other hand, as data transfers are expected to increase with growth of network adoption, the token emissions for those transfers are set to increase through time. This reward allocation promotes an efficient allocation of gateways (location-wise), in order to provide better coverage.

Chirp Team​

Token emissions are attributed to the team over a period of 10 years.

Investors​

Our aim is to make the network as fair and decentralized as possible. But the development of a decentralized network requires a significant upfront investment for its development, hence the need for the funding rounds.

The Investors will receive part of the newly minted tokens for the first 4 years after the Token Generating Event.

Token Treasury​

6.27% of all emissions are attributed to a token treasury, which will serve the purpose of: Treasury funding, namely incentivizing the ecosystem growth by funding daily operations (including developers’ remuneration, marketing activities, services associated with network maintenance and development); Fund research and development and other grants for projects that will promote network growth and long-term adoption.

The token treasury is going to be managed through the protocol’s treasury, following a predetermined mandate and subject to governance oversight from the network stakeholders.

Token Reserve​

8.73% of the total supply will be pre-minted and allocated for token liquidity provision and there will be a yearly allocation for this same purpose. This includes exchange listing, market making and unforeseen liquidity and stabilization requirements.