🎯Initial Token Distribution
Last updated
Last updated
veZERO Partner Protocol Delegation15% of the initial supply was dedicated to protocols that demonstrate their willingness to engage with our liquidity layer. When evaluating the available protocols, we examined a wide range of factors, such as committed TVL, trade volumes, and product.
Unlike traditional ve(3,3) DEXs, this allocation was not airdropped to partner wallets.
We have seen among other DEXs that partners have occasionally stopped contributing to the success of their partner DEX. Unfortunately, the airdrop has been made and the partner can still continue to extract value from the protocol while committing nothing in return.
To combat this unfortunate reality, all partner veNFT allocations will be delegated instead of airdropped. This way, if a partner decides to no longer drive the success of the ZERO ecosystem, their veNFT delegation can be removed. Additionally, if a partner increases their contribution to the ecosystem, their delegation can be increased.
This ensures alignment of partners and protocol to ZERO's success.
10% of the initial supply was dedicated to a specific fund that will be used to support a wide range of projects that aim to accelerate the growth of ZERO. These grants can go towards incentivizing lockups, LPs, and shortlisted projects to receive significant backing from the core team (smart contract development, marketing, business development, etc).
30% of the initial supply has been allocated to 2 separate airdrops before the launch of ZERO. Both airdrops were geared towards giving loyal Retro participants a starting position in ZERO (a direct fork of Retro).
20% of the initial supply has been distributed to the team to engage them in the long term success of ZERO. The team allocation is balanced between veZERO (12%) and $ZERO (8%) vested tokens.
The core team members will have their interests align with ZERO by receiving a percentage of the initial supply in the form of voted escrow tokens. This allocation allows team members to participate in the upside of the protocol while having a long-term oriented position.
First, core team members will vote for core pair gauges at ZERO's inception in order to achieve the goal of deep liquidity and extremely low slippage for high volume pairs that are not backed by bribing entities. These will include $MATIC, $BTC, $ETH and $ZERO denominated pairs. Second, this initial allocation ensures that the core team has enough initial control over the protocol to achieve the original vision of ZERO. The fact thatveZERO mechanics include only a partial rebase capped at 15%, will ensure a dynamic supply distribution and balance the team's initial dominance.
To add an extra degree of protection and prevent team members from behaving maliciously, the initial veZERO team allocation will be kept under ZERO’s multisig. Additionally, since the veZERO holders are entitled to the protocol revenue through bribes and fees, we choose to balance the team allocation with vested $ZERO tokens. Thus, we encourage a fair distribution of revenue among the stakeholders.
Team allocation balance between $ZEROand veZERO:
60% as veZERO locked for 2 years
40% as $ZERO vested 1 year linearly
10% of the initial supply is allocated to a veNFT sale, paid for in $CASH. The proceeds of this sale will be used towards bluechips to feed initial native $ZERO liquidity pools, start a Polygon zkEVM branch of the Overcollateralization treasury to kickstart $CASH yields on the chain, and other tasks necessary to begin ZERO operations.
5% of the initial supply is to be been paired with $CASH, $MATIC, and a number of other blue chip and stablecoin tokens to provide enough liquidity at launch.
