OM Token V2 — Circulating Supply Emission Schedule (Update — December 18th, 2020)

Over the last 4 months since our OM Token Generating Event (TGE) in August 2020, the MANTRA DAO team has been on a mission to be completely transparent every step of the way. As we move our current OM token to a new enhanced V2 OM token, we continue to remain on course with this commitment. We are hereby publishing our updated transparency report so that it may serve our community as a guide for the economics of the OM token emission schedule and circulating supply. To understand the full details of our OM Token V2 upgrade, please study our OM V2 launch article here.

Now, without further ado, let’s get started!

Image for post
Image for post

Total OM Token Supply:

Capped supply of 888,888,888 OM

  • Public Sale: 75,555,555.48 OM
  • Private Sale: 79,999,999.92 OM
  • Team & Advisors: 155,555,555.40 OM
  • Referrals: 111,111,111.00 OM
  • Grants: 111,111,111.00 OM
  • Reserves: 88,888,888.80 OM
  • Staking Rewards: 266,666,666.40 OM
Image for post
Image for post

Public Sale (Includes pre-IMO, and IMO rounds 1, 2, and 3):

8.5% of total supply, or 75,555,555.48 OM

  • No lock-up:
  • All 75,555,555.48 OM were distributed and have been circulating since TGE

Private Sale:

9.0% of total supply, or 79,999,999.92 OM

  • Locked-up with 6 month evenly distributed vesting events of which 2 unlocks remaining
  • 53,333,333.28 OM have vested and are currently circulating
  • 13,333,333.32 OM will be unlocked on 18th of December 2020 and on 18th of January 2021 for a total of 26,666,666.64 OM. This amount is verifiable in an escrow smart contract available here

Team & Advisors:

17.5% of total supply, or 155,555,555.40 OM

  • The full amount is currently locked-up, with vesting following a 1-year cliff followed by quarterly vestings over 2 years
  • There will be 8 vestings of 19,444,444.425 OM, on each of the following dates: 18th of August 2021, 18th of November 2021, 18th of February 2022, 18th of May 2022, 18th of August 2022, 18th of November 2022, 18th of February 2023, and 18th of May 2023 This amount and vesting schedule is verifiable in an escrow smart contract available here

Staking Rewards:

30% of total supply, or 266,666,666.40 OM

  • 46,600,000.00 OM tokens have vested and are currently in circulation
  • The remaining balance of 220,066,666.40 OM will be distributed roughly over the next 4 years, according to the below release schedule
  • Starting from today, 33.5 OM will be released per Ethereum block for the next 2,388,888 blocks (roughly through 31 December 2021)
  • After 2,388,888 blocks, the release rate will be halved to 16.75 OM per block and will remain the same until the full amount is fully vested. This is expected to happen around the 17th of August 2025, roughly 5 years after TGE This amount and vesting schedule is verifiable in an escrow smart contract available here

Referrals:

12.5% of total supply, or 111,111,111.00 OM

  • 22,200,000.00 OM tokens have vested and are currently in circulation
  • The remaining balance of 88,911,111.00 OM will be distributed roughly over the next 4 years, according to the below release schedule
  • Starting from today, 13.5 OM will be released per Ethereum block for the next 2,388,888 blocks (roughly through 31st of December 2021)
  • After 2,388,888 blocks, the release rate will be halved to 6.75 OM per block and will remain the same until the full amount is fully vested. This is expected to happen around the 17th of August 2025, roughly 5 years after TGE This amount and vesting schedule is verifiable in an escrow smart contract available here

Reserves:

10% of total supply, or 88,888,888.80 OM

  • 23,311,111.10 OM tokens have vested and are currently in circulation
  • The remaining balance of 65,577,777.70 OM will be distributed roughly over the next 4 years, according to the below release schedule
  • Starting from today, 10 OM will be released per Ethereum block for the next 2,388,888 blocks (roughly through 31st of December 2021)
  • After 2,388,888 blocks, the release rate will be halved to 5 OM per block and will remain the same until the full amount is fully vested. This is expected to happen around 17th of August 2025, roughly 5 years after TGE This amount and vesting schedule is verifiable in an escrow smart contract available here

Grants:

12.5% of total supply, or 111,111,111.00 OM

  • Currently, no tokens from the Grants pool have entered circulation
  • All 111,111,111.00 OM are being held on an escrow smart contract, which can be verified here. Tokens can be withdrawn from the contract by a multisig approval, currently held by the MANTRA DAO Council Members. A successful request for withdrawal is followed by a 14 day time-lock before the tokens become available.
  • Grant tokens are meant to be used to fund MANTRA DAO protocol improvement and development initiatives
  • Should grants not be needed for the MANTRA DAO ecosystem’s growth, the grant tokens will never be unlocked and will essentially never enter circulation

We trust the above information is helpful for our community in staying up to date with the specific details around MANTRA DAO’s updated token emission schedule! At MANTRA DAO we are committed to keeping our community well informed and to be as transparent as possible. It is our hope that as we grow and expand we will continue to inform our community as much as possible on important milestones and provide the necessary information that will help us communicate effectively with our community.

About MANTRA DAO

MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.

Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn | Github

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store