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  • Introduction to BENQI
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    • Protocol Parameters
    • Health & Liquidations
    • Getting Started
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  • 💧BENQI Liquid Staking
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    • Liquid Staking App
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    • Ignite App
  • 🗳️Node Voting
    • Overview
    • Delegation Pools
    • Getting Started
  • 🪙Benqinomics
    • Overview
    • BENQI Miles & Progressive Decentralization
    • Token Distribution & Vesting
    • Liquidity and Community Incentives
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  1. Benqinomics

Token Distribution & Vesting

Last updated 6 months ago

The QI token distribution is designed to foster active participation and engagement within the BENQI protocol. By encouraging balanced growth in both borrowing and lending pools, the protocol aims to maintain high market utilization while gradually decentralizing governance over time. QI tokens will be distributed targeted via to achieve a balance of high market utilization and a wide distribution of governance participants. This is subject to changes via governance as the protocol evolves and market conditions change.

Tokens have been distributed amongst various key parties:

  • Core Contributors (720M): Reserved for team members. August 2022 unlock, 1-year cliff, followed by quarterly vesting over 3 years

  • Foundation (1.08B): Allocated for growth initiatives, partnerships, and to ensure the protocol’s stability. May 2022 unlock, 9-month cliff, followed by quarterly vesting over 3 years.

  • Exchange Liquidity (360M): Provides liquidity for QI token trading on decentralized and centralized exchanges. Varied distribution to maintain exchange liquidity.

  • Seed Round (426.96M): Allocated to early investors who provided initial funding and support. August 2021 unlock, monthly release over 2 years.

  • Private Sale Round (869.04M): Reserved for strategic partners and investors to help scale the project.

  • Public Sale Round A (439.2M): Open to the public, helping to onboard a wider community of users and governance participants. August 2021 unlock, monthly release over 1 year.

  • Public Sale Round B (64.8M): Immediate liquidity provided through a fully unlocked public sale. August 2021 unlock, fully unlocked at launch.

45% or 3,240,000,000 QI tokens will be distributed to the community and partners through BENQI's Liquidity Mining program, which uses QI to incentivize the platform’s growth.

This is illustrated in the following chart:

Category
Total Amount (QI)
Lockup Amount (QI)
Unlock Amount (Aug 2024)
Initial Unlock Date
Unlock Schedule

Core Contributors

720,000,0000

720,000,0000

Full unlock by 2025

Aug 2022

1-year cliff, quarterly vesting over 3 years

Foundation

1,080,000,000

1,080,000,000

Full unlock by 2025

May 2022

9-month cliff, quarterly vesting over 3 years

Community Incentives

3,240,000,000

3,240,000,000

Ongoing

Aug 2021

Varied (dependent on incentive programs)

Exchange Liquidity

360,000,000

360,000,000

N/A

N/A

Varied (depending on market needs)

Seed Round

426,960,000

426,960,000

Fully unlocked

Aug 2021

Monthly release over 2 years

Private Sale Round

869,040,000

869,040,000

Fully unlocked

Aug 2021

Monthly release over 1 year

Public Sale Round A

439,200,000

439,200,000

Fully unlocked

Aug 2021

Monthly release over 1 year

Public Sale Round B

64,800,000

64,800,000

Fully unlocked

Aug 2021

Monthly release over 1 year

Total

7,200,000,000

7,200,000,000

🪙
Liquidity and Community Incentives