Hey everyone! And welcome to all the new Avatars boarding spaceship $AVE. We’re over joyed with our sudden growth and look forward to bringing you the best that DeFi has to offer. We’ve received numerous questions about our distribution, tokenomics, contracts, and pool emissions, so we wanted to get all that information together in one place for everyone.
Our original tokenomics post can be found here. Here’s what it looks like:
We didn’t end up minting/selling any private investor tokens. The original mint was around 2m and the distribution was through the market. Since then another 2m has been minted and distributed through the Yield Farm. Also out of the original mint we did sell 100k for $5,000 to an investor to help us get started. But I’d consider that taken from the Team fund. It looks something like this so far:
Market Distribution: 1.5m
Yield Farming: 2m
We proposed a 10m cap on coins. So our plan is to reduce our weekly emissions over time. With the lowering of emissions, and the ever growing use cases AVE has, the value of our token should rise and we should be able to have sustainable rewarding farming for a long time.
I have updated our GitHub project information file to include the staking contract addresses, all the contracts are verified so you can check and make sure everything is like we say it is. We have a few more contracts in the works to further advance our DeFi technology and make refilling and managing the farms much easier. We will verify and update the file with those contracts after they are tested and deemed ready for production.
Pool Emissions have been kept around 80k per week. I suggest we have a cap of 100k tokens per week to the Yield Farms as a starting point and see how everything looks from there. This is a reasonable cap that will allow for awesome farming, and limited inflation. Here’s what the rewards looked like for last weeks refill:
AVE/AVAX PGL — 40k
AVE/CYCLE PGL — 20k
AVE/YAK PGL — 10k
AVE/SHERPA PGL — 5k
AVE/ELK PGL — 5k
AVE/PEFI PGL — 5k
AVE — 5k
You can find last weeks pool emissions post here. We’ve also created an address to be used as the treasury for the Yield Farms, that address is also listed in the GitHub file above. We will need to mint 500k to that address to keep the farms running, so we’re trying to be as transparent as possible and bring this spaceship up to regulation standards!
You can find this weeks pool/farm emissions here.
I hope everyone’s having a great #AvaxDefiSummer, take care