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More updates: Tokenomics and NetMind Program
Here's a follow up of the recent updates to the new tokenomics, set to take effect on April 16th, 2024, which is also the anniversary of NetMind Chain. These changes, along with the introduction of NetMind Program, are designed to strengthen our ecosystem, offering better support to our community and fostering ongoing innovation and growth.
Stay tuned for in-depth charts and detailed figures once our new tokenomics goes live on April 16th.
Tokenomics
Token Issuance and Distribution:
On April 16th, over 9.8b NMT will be burned.
Starting April 16th, 113,000,000 NMT will be issued over the next 10 years under our new tokenomics framework. This issuance will adjust the total supply from Previous 10B to approximately 150 million NMT, including current circulation. Precise numbers will be updated on our website on April 16th, and we are also updating Coinmarketcap and Coingecko accordingly. (Please note, the percentages discussed below are based on 113 million newly issued tokens, not the total supply).
Actual vs Maximum EmissionsοΌ
The actual emissions are likely to be lower than the maximum stated emissions (See the Cumulative graphic below). We've based our projections on a series of assumptions, detailed in the accompanying graph, indicating that allocations for mining, staking, or ecosystem funds may not be fully utilized each year. This method underscores our commitment to sustainable and responsible token issuance, ensuring that the practical implementation of our emissions strategy remains conservative compared to the theoretical maximum outlined.
Adjusted Token Allocations (Comparison of Old vs. New Percentages):
- Mining: Allocated 58,000,000 tokens (new 55.31%, up from 40%). This includes a revised portion for early GPU contributors from 80m now set to 5 million tokens (4.42%).
- Staking: Set at 16,500,000 tokens (new 14.60%, down from 30%), to encourage network participation and enhance security.
- Team: Reduced to 10,000,000 tokens (new 8.85%, down from 10%).
Reorganized Community Fund (Totaling 21.24%, up from 20%):
- Ecosystem Growth: 16,500,000 tokens (14.60%) dedicated to expanding and enriching the ecosystem.
- Strategic Investors & Advisors: A new category with 7,500,000 (6.64%) tokens aimed at reinforcing relationships with key strategic partners.
Halving and Decreasing Mechanisms:
- Mining Halving Algorithm: The mining reward will halve every four years, starting with 10 million tokens annually for the first two years, then decreasing every two years to 7.5 million, 5 million, 3.75 million, and finally 2.5 million in the last period.
- Smoothing Mechanism for Other Categories: All other categories will implement a decreasing mechanism but with a smoother curve to ensure a gradual reduction in token issuance, maintaining economic stability.
Staking Rewards Structure:
Consistent with our previous tokenomics framework, all staking rewardsβincluding flexible staking, fixed-term staking, liquidity rewards, and master node rewardsβwill continue to be sourced from the staking rewards pool. Details on the adjustments will be announced by April 30th.
NetMind Program
At @NetmindAi, we remain dedicated to building a sustainable and valuable ecosystem, leveraging our computing power and more. We are proud to be an early investor in a number of successful startups, including https://t.co/oYWxcnR9eX, https://t.co/CtgoBQkE3T, https://t.co/dBPhwMtoDK, https://t.co/a3PljX1hg9, and https://t.co/Hfu4Wja5Xt, among others. (Will write a separate introduction in the future). Additionally, over the past years, we have sponsored and worked with more than 30 research labs at top universities worldwide, and our commitment to supporting academic excellence continues.
We are thrilled to announce there will be a NetMind Program, which will extend our support to AI startups and universities. Weβre making AI more accessible and affordable to everyone, further enhancing the global AI landscape. Together, let's strengthen our community and push the boundaries of what we can achieve with AI.
Exciting updates from our CEO @anMe_kz !
- On April 16th, our new tokenomics will go live, 113 million NMT will be issued over the next 10 years, refining the total supply to about 150 million.
- Brace yourselves for the launch of the NetMind Program! This expansion means more research, more AI models and products, deeper partnerships, and greater utilization of $NMT.
Stay tuned for further details! Donβt miss the token burn event on April 16th! π₯
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NetMind Power is a decentralized platform aimed at democratizing AI computing power.
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π₯ NetMind AI develops ethical AI solutions designed to positively impact humanity, with a focus on user benefits and societal good.
β¦ Price: $10
β¦ Market cap: $371M
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