🥇Initial Supply and Emissions Schedule
Breakdown of initial supply and token inflation
Last updated
Breakdown of initial supply and token inflation
Last updated
The total supply of ERU will be 100 million.
The initial supply will be 50 million.
The uncirculated ERU tokens will be locked in the smart contracts, and their specific use will be determined by the DAO.
veERU Protocol Airdrop20% of the initial supply will be dedicated to airdrop protocols that demonstrate their willingness to engage with our cross-chain liquidity layer. When evaluating the available protocols, we will examine a wide range of factors, such as TVL, trade volumes, and products.
List of protocols receiving the airdrop will be published once finalized.
$ERU/veERU Airdrop for Users24% of the initial supply will be distributed to regular users of existing Chain protocols available on our cross-chain DEX, as well as those new to the chains through EruSwap. Users will be chosen based on behaviors that promote long-term stability of said protocols, such as: locking, stacking, holding, participating in governance, and continuing to support despite the challenges faced.
$ERU/veERU Airdrop for ERUCHEF Minters10% of the initial supply will be allocated to ERUCHEF minters and is claimable right at launch on EruSwap.
ERUCHEF minters Airdrop balance between $ERU and veERU:
40% as veERU locked for 2 years
60% as $ERU
24% of the initial supply will be dedicated to a specific fund that will be used to support a wide range of projects that aim to accelerate the growth of EruSwap. Shortlisted projects will receive significant backing from the core team (smart contract development, front-end, marketing, business development, etc.).
17% of the initial supply will be distributed to the team to engage them in the long-term success of EruSwap. The team allocation is balanced between veERU and $ERU vested tokens.
The core team members will have their interests align with EruSwap 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 gauges at EruSwap's inception in order to achieve the goal of deep liquidity and zero slippage for high-volume pots that are not backed by bribing entities. Second, this initial allocation ensures that the core team has enough initial control over the protocol to achieve the original vision of EruSwap. The fact that veERU mechanics include only a partial rebase capped at 30%, 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 veERU team allocation will be kept under EruSwap’s multisig. Additionally, since the veERU holders are entitled to the protocol revenue through bribes and fees, we choose to balance the team allocation with vested $ERU tokens. Thus, we encourage a fair distribution of revenue among the stakeholders.
Team allocation balance between $ERUand veERU:
60% as veERU locked for 2 years
40% as $ERU vested 2 years with a 1-year cliff
5% of the initial supply for Liquidity Providers to provide enough liquidity at launch.
The main stakeholders of EruSwap, including veERU holders, LPs, users, and protocols, are all aligned by the ve(3,3) dynamics that determine ERU emissions
veERU holders — are incentivized to vote either for the highest volume pots (because the greater the volume, the greater the amount of fees produced as a result), or the ones being bribed by protocols seeking to bootstrap their cross-chain liquidity. This allows these protocols to create their own flywheel, if the token generates strong volume.
Liquidity Providers (LPs) — are incentivized with emissions driven by “Real Yield” based metrics.
Traders — benefit from ZERO slippage. eruSwap is a decentralized exchange (DEX) built for self-made traders in emerging markets, not hedge funds or whales. eruSwap is designed to have the lowest per-transaction costs for smaller trades on the most popular crypto-assets. This is accomplished through a novel architecture and a series of design tradeoffs that sacrifice price competitiveness on large trades for better prices for smaller trades.
Protocols — have access to a cooperation-oriented cross-chain liquidity layer. They benefit from capital-efficient trading conditions for their tokens, and they can incentivize their cross-chain liquidity via bribes offered to veERU holders.
Weekly emissions (at inception): 2,500,000 $ERU
Weekly emissions decay: 1%
Weekly developer wallet allocation: 2.5%
Weekly veERU rebase: Up to 30%
Emissions for liquidity providers: 67.5%
