Token Allocation Update

Earlier this week, we gave you a token supply update, earmarking tokens so that each in our ecosystem has a specific job. Now we’re putting some tokens to work, starting with the allocations to our Rewards Pool and Ecosystem Rewards/Future Utility Pool. Let’s review the allocation amounts and how many tokens we will move into these pools to benefit and provide value to the community.

Rewards Pool

As previously mentioned, we have been reviewing the reward pool metrics from August. After identifying the trends, we want to set some tokens aside for the rewards pool to prepare for the coming months.

As a result, we will be moving 30% of our Reward Pool allocation, or approximately 1.2 million tokens, into a multi-sig wallet. These tokens will not enter circulation immediately, and some of them may not be introduced into circulation at all. These tokens will solely be used to periodically refill the reward pool.

This ensures that demand for rewards can continue to be met without any shortage of tokens for the community. Although we are moving a third of our allocation now, we are confident that because of upcoming improvements and gamification we will have a drastically reduced need to dip into the remainder of this specific pool.

Reward Pool Vault: https://gnosis-safe.io/app/avax:0xef9b426602151c7AC99DbD189b32E6A6D783aC01/home

Multisig Members: 0xdegensigma, Kasparov, Mercules

Ecosystem Rewards / Future Utility

Secondly, we allocated 50% of our tokens for “Ecosystem Rewards / Future Utility.” The upcoming staking pools are a perfect example of this allocation. As a part of our efforts to bring sustainable staking to the Thor community and reduce the SSS emissions, we’re boosting the APY offered by Vesper with the $THOR token. While variable, this rate will be monitored and managed by ThorFi. We will be moving sufficient tokens to a secure wallet and begin “dripping” the rewards from there through the custom contracts.

As a result, we will be moving 5% of our Ecosystem/Utility allocation, or approximately 478,000 tokens, directly into a multi-sig wallet. These tokens will not enter circulation immediately and will solely be used to drip rewards based on the staking smart contract.

Staking Pool Vault: https://gnosis-safe.io/app/avax:0x741bC6c329e2bb56288cFEc7903a30F6eBE50756/home

Members: 0xdegensigma, Kasparov, Forseti

We’re excited about bolstering our rewards supply, funding the upcoming staking pools, and providing you with new value.

With thanks to our community,

The ThorFi Team

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