DNA Structure
Last updated
Last updated
Each Alt in Alt.town issues one million DNA, representing their value. These DNA can be bought and sold through pre-sale and order-book trading. Each Alt issues its own DNA, and the volume allocation and lock-up release period for DNA apply equally to all Alts.
The DNA allocation is organized as follows:
Alts hold 30% of its total DNA supply, which amounts to 300,000. This amount is initially locked up but will be gradually unlocked at a rate of 1% per month over a total of 30 months from the start date of trading. Alts can distribute their DNA to fans through airdrops or sell it in Town.
During the pre-sale period, 100,000 DNA, which is 10% of the total DNA supply, will be circulated. The pre-sale is divided into three rounds and will last for a total of seven days. During this period, users can only buy DNA and cannot sell it. 90% of the total pre-sale revenue will be allocated to the respective Alt.
After the pre-sale ends, on-chain-based order-book trading will begin.
Any remaining unsold amount during the pre-sale will be will be locked up for one year and then gradually unlocked at a rate of 2.5% per month (1.25% each for Alt and the service). The supply allocated to the service will be utilized as event supply for their respective Alt.
40% of the total DNA supply is reserved as an asset for the ecosystem, which can be utilized through governance consensus. Starting one year after the launch of the Alt.town service, voting will be conducted among holders of Alt's DNA and governance token, $TOWN. Based on the consensus result, the timing and quantity of ecosystem DNA usage will be determined. Until the voting feature is added, the ecosystem supply will remain locked up. However, 1% (10,000) is used to provide initial liquidity without lock-up.
DNA for the community, amounting to 200,000, which is 20% of the total supply, is utilized for various purposes such as events and airdrops in consultation with the respective Alt. This includes the random DNA provided for the sign-up event. Except for the initial 2% allocated for community use, the remaining 18% will be unlocked at a rate of 1% every six months.
The event supply consists of unsold DNA from the pre-sale period and is used for events related to the respective Alt. However, depending on the outcome of the pre-sale, this amount may not exist.
