Tokenomics
1. Token Overview
The reward token is Avto ("$AVTO", or the “Token”). The token has a virtually unlimited emissions schedule, but reduces algorithmically per unit of time such that it approximates a max supply.
The Token bestows both governance and profit-sharing privileges to platform users, aka holder, by staking them in a framework of smart contracts (the “Foundry”).
The Token has a modified reflect/deflect feature in the form of a 2% tax on contract interactions. This tax is burned forever, adding a deflationary aspect to the Token.
2. Emissions Schedule
Approximated max supply: 21,000,000 tokens
Emission schedule expected to follow a sigmoid supply curve such that:
Where:
y = circulating supply excluding pre-minted tokens
x = years (assuming 360 days a year)
z = max supply excluding pre-minted tokens
Annual Supply Curve / Emissions Schedule for Reward Emissions (excl. pre-minted tokens)
x (Year) | y (Tokens) | % of z (max) | Tokens minted | Y-o-y change in emissions |
0 | 0 | 0.00% | 0 | n/a |
1 | 5,822,676 | 46.21% | +5,822,676 | n/a |
2 | 9,596,086 | 76.16% | +3,773,410 | -35.19% |
3 | 11,404,868 | 90.51% | +1,808,782 | -52.07% |
4 | 12,146,748 | 96.40% | +741,880 | -58.98% |
5 | 12,431,340 | 98.66% | +284,593 | -61.64% |
6 | 12,537,690 | 99.51% | +106,350 | -62.63% |
7 | 12,577,042 | 99.82% | +39,352 | -63.00% |
8 | 12,591,549 | 99.93% | +14,508 | -63.13% |
9 | 12,596,890 | 99.98% | +5,341 | -63.18% |
10 | 12,598,856 | 99.99% | +1,966 | -63.20% |
Emissions follow the supply curve on a daily basis with the assumption of 24 hours in a day, 30 days in a month, and 12 months / 360 days in a year, with the per-block emissions within each 24-hour time span being a linear average.
After 10 years, we set the default case as flat emissions (i.e., +1,966 per year), to be subject to governance voting.
3. Allocations
As the emissions schedule generally approximate a max supply, token allocation is possible on a fully diluted basis. A portion of the Token will be pre-minted and allocated on day 1 while the remainder will be minted according to the emission schedule.
Allocation | % of Max Supply | # of Tokens | Minting Method |
Reward Emissions | 60% | 12,600,000 | Emissions schedule |
Initial Jetswap Offering ("IJO") | 10% | 2,100,000 | Pre-minted |
Treasury | 20% | 4,200,000 | Pre-minted |
Team Equity | 10% | 2,100,000 | Pre-minted |
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