Nov 18, 2021
HiNATA Tokenomics Explained
̶T̶h̶e̶ ̶H̶i̶N̶A̶T̶A̶ ̶t̶o̶k̶e̶n̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶a̶v̶a̶i̶l̶a̶b̶l̶e̶ ̶f̶o̶r̶ ̶t̶r̶a̶d̶i̶n̶g̶ ̶D̶e̶c̶e̶m̶b̶e̶r̶,̶ ̶2̶0̶2̶1̶.̶
We have decided to push back the token launch and instead focus on shipping platform features that everybody can use! The token launch will occur at a later date.
Network: Ethereum (ERC-20)
Total Supply: 100,000,000
Public IDO: 750,000 HiNATA
Initial Market Cap: $950,000
IDO Market Cap: $550,000
Primary CEX listing: TBA
DEX: Uniswap
The core team has carefully considered our emissions schedule to ensure there are adequate project resources for the next 5.5 years, with eyes set on becoming a key producer of anime content and mobile games for the metaverse and beyond. All tokens will be vested using Banteg’s Yearn vesting template, widely regarded as new industry standard for ERC-20 lockup contracts.
We have made 7.5% of our supply available to early strategic partners who support our long term vision. We expect to use 65% of funds raised for ongoing development costs, 25% for ecosystem growth, and the remaining 10% for legal and administrative fees.
10% of tokens will be vested over 3 years for the core development team following a 6 month cliff. Project founders will be allocated 2% of the total tokens with a three year cliff.
Current community members who hold the WAIFv2 token and have participated in DAO governance will be airdropped HiNATA at a 100:1 ratio over 6 months. Tokens can be claimed from our portal at hinata.io and this represents up to 10% of the total supply, with all unclaimed tokens being burned by the end of 2022.
The remaining ~70% of HiNATA tokens will be slowly minted and re-vested over through a mix of liquidity and usage incentives for all users and collaborative agreements with new strategic partners. Our DAO treasury and ecosystem fund comprise the majority of this amount and will not be circulating, unless voted on by members.
The HiNATA token serves as the backbone of the Hinata NFT ecosystem and serves multiple utility and governance roles. Here are the important functional aspects of the ERC-20 token:
- Users can deposit HiNATA and lock it for up to 3 years in the Vault and earn a governance and reward token used for snapshot voting and proposal creation, claiming exclusive NFT drops, and future platform features.
- Users can also stake HiNATA-USDC or HiNATA-ETH Sushiswap LP tokens to participate in our inaugural liquidity incentive program, which distributes up to 333,333 tokens per month for the first 6 months and 166,666 tokens per month for the next 12 months.
- Users who stake HiNATA tokens as LP or in the single asset vault pay reduced fees on our secondary NFT marketplace.
- The HiNATA token is regularly purchased by the DAO as part of our buyback program. 50% of all purchased HiNATA is held in escrow for future platform incentives and grants to be voted on by governance token holders. The remaining rebought HiNATA is distributed to LP token stakers who enter a lockup period of greater than 6 months. In addition to this, we will require governance participation to be eligible for this DAO perk.
- Usage mining incentivizes NFT trading volume on the Hinata secondary marketplace and active wallets will be able to claim up to 333,333 tokens per month for the first 6 months.
Marketplace fee schedule
Usage mining schedule
In the next few weeks we will divulge more information about platform features and share some pictures of the interface! Catch you then
Signed,
The Hinata Team
