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32 changes: 16 additions & 16 deletions alb-token.md
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Expand Up @@ -8,55 +8,55 @@ The Alienbase Token ($ALB) is the governance token of the platform designed to b

It has a Max Supply of 510,000,000 tokens to be distributed mostly through farming with LP tokens on the Alienbase DEX.

Emission is expected to last for 3 years after TGE on August 8, 2023, after which the platform should become self-sustainable. 
Emission is expected to last for 3 years after TGE on August 8, 2023, after which the platform should become self-sustainable.

<figure><img src=".gitbook/assets/2023-10-05-chart-02.png" alt=""><figcaption></figcaption></figure>

**Emission Schedule**

The initial design assumed an initial heavy distribution period that would see 22.5% of the supply minted in the first three months. The speed of emission would be halved after the first three months, and continue to do so every 9 months until August 2026. Thus, the rewardsPerSecond parameter of ALB emission would scale as follows:
The initial design assumed a heavy distribution period that would see 22.5% of the supply minted in the first three months. The speed of emission would be halved after the first three months, and continue to do so every 9 months until August 2026. Thus, the rewardsPerSecond parameter of ALB emission would scale as follows:

| ALB Per Second | Trigger Month |
| ALB per second | Trigger month |
| -------------- | ------------- |
| 15 | August 2023 |
| 7.5 | November 2023 |
| 3.75 | August 2024 |
| 1.875 | May 2025 |
| 0.9375 | February 2026 |

The plan assumed an initial circulating supply of 25 million ALB, which due to early sniper and community interest became impossible to add to the fair launch liquidity pool.
The plan assumed an initial circulating supply of 25 million ALB, which, due to early sniping and strong community interest, could not be added to the fair launch liquidity pool.

After three weeks of the initial distribution schedule, the community and team have agreed to reduce emission by 46% to 4% total supply every month, or 8 ALB per second: [https://snapshot.org/#/alienbase-dex.eth/proposal/0x56c418fd7f7fd365b0beba44389807941e3150fb376179ac758fb497f04a999b](https://snapshot.org/#/alienbase-dex.eth/proposal/0x56c418fd7f7fd365b0beba44389807941e3150fb376179ac758fb497f04a999b)
After three weeks of the initial distribution schedule, the community and team agreed to reduce the emission to approximately 4% of total supply per month (a ~46% reduction), equivalent to 8 ALB per second: [https://snapshot.org/#/alienbase-dex.eth/proposal/0x56c418fd7f7fd365b0beba44389807941e3150fb376179ac758fb497f04a999b](https://snapshot.org/#/alienbase-dex.eth/proposal/0x56c418fd7f7fd365b0beba44389807941e3150fb376179ac758fb497f04a999b)

The future schedule remains unchanged for now, with a planned reduction to 7.5 ALB per second in November.

The total minted after 36 months will be approximately 75.3% of the total supply. Thus after three years the total supply will be as follows:

| | | |
| ------------ | --------- | - |
| Initial Mint | 5.1% | |
| Farming | 75.3% | |
| **Total** | **80.4%** | |
| Category | Percentage |
| ------------ | ---------- |
| Initial Mint | 5.1% |
| Farming | 75.3% |
| **Total** | **80.4%** |

The remaining 19.6% of the supply can be theoretically minted through a DAO decision should the need arise. The supply schedule can be changed pending DAO decision, including steeper reductions of the farming rewards if the protocol reaches sustainability before the expected time frame.

The team currently **cannot mint tokens** without going through a total 14 day time lock (farming emissions parameters are likewise timelocked for 7 days).
The team currently cannot mint tokens without a 14-day timelock (farming emission parameters are timelocked for 7 days).

**Initial Supply Timelock & Token Distribution**

The initial 25 million tokens (\~5% of the total supply) that could not be placed in liquidity were directed to a timelock contract as a temporary measure.
The initial 25 million tokens (~5% of the total supply) that could not be placed in liquidity were directed to a timelock contract as a temporary measure.

The timelock transactions are listed below:

* &#x20;[https://basescan.org/tx/0x44d3753e8e0e104f4751665af885c77fc8ee338abd377496cb33b1a35b10aca9](https://basescan.org/tx/0x44d3753e8e0e104f4751665af885c77fc8ee338abd377496cb33b1a35b10aca9)
* [https://basescan.org/tx/0x44d3753e8e0e104f4751665af885c77fc8ee338abd377496cb33b1a35b10aca9](https://basescan.org/tx/0x44d3753e8e0e104f4751665af885c77fc8ee338abd377496cb33b1a35b10aca9)
* [https://basescan.org/tx/0x5936515cc428ce9d66396d995b490f059da4152c182e1e8f42dc7ce6a38fd278](https://basescan.org/tx/0x5936515cc428ce9d66396d995b490f059da4152c182e1e8f42dc7ce6a38fd278)
* [https://basescan.org/tx/0x079a3f09c533fd61768cfb88d2fdf21effd67c4311819974ddc446b342b5540d](https://basescan.org/tx/0x079a3f09c533fd61768cfb88d2fdf21effd67c4311819974ddc446b342b5540d)

Of these, **20 million** **ALB** are to be devoted to growing the project over time: fundraising from investors, marketing expenses as well as market making to grow liquidity of ALB and the DEX as a whole.
Of these, **20 million ALB** are to be devoted to growing the project over time: fundraising from investors, marketing expenses as well as market making to grow liquidity of ALB and the DEX as a whole.

The remaining **5 million** are to be distributed to the team with vesting contracts (currently yet to be deployed and distributed).
The remaining **5 million** are to be distributed to the team with vesting contracts (which are yet to be deployed).

Of the current farming emissions, 15% of the tokens minted are reserved to the team as an operating budget and reserve. Another 15% is reserved to the DAO and marketing initiatives that bring the protocol forward.
Of the current farming emissions, 15% of the tokens minted are reserved for the team as an operating budget and reserve. Another 15% is reserved for the DAO and marketing initiatives that bring the protocol forward.

To support operations, the team has announced that up to 600,000 ALB per month can be devoted to cover salaries for development and incentivization. More can be found here: [https://medium.com/@alienbase/strategic-roadmap-update-for-alien-base-c569f2bfcc46](https://medium.com/@alienbase/strategic-roadmap-update-for-alien-base-c569f2bfcc46)

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