The functional currency of Craft Economy
Craft is the token of Craft Economy. CRAFT has a total supply of 250,000,000.
The marketing budget will unlock 25% at TGE, and 25% per 6 months for the remaining. Funds that are not used in the previous period will automatically roll over to the next cycle. Marketing funds are controlled entirely by the DAO. The total marketing allocation is 5,000,000 CRAFT.
The organization was initially capitalized through a "Friends and Family Raise" from 30 early supporters. Each individual contributed $10,000 USDC in exchange for 250,000 CRAFT and 1 Land Plot in Town Square (NFT). In total $300,000 USDC was contributed at a $10,000,000 valuation. 7,500,000 CRAFT was distributed (3% of total supply). Not subject to any vesting schedule.
The foundation was comprised of roughly 60 individuals, specializing in categories such as: tokenomics, web-design, game infrastructure, blockchain development, capital formation, validators, content creation, community management, plug-in development, web design, social media management, marketing strategy, etc
The foundation was allocated 25,000,000 CRAFT on various vesting schedules.
25,000,000 CRAFT were allocated to inflationary incentives for EXP delegators. The CRAFT will be distributed over the course of 3 years on a deflationary curve.
37,500,000 CRAFT will be airdropped to individuals delegating various tokens to our genesis validators. The CRAFT will beunlocked through a series of 'fairdrop challenges' that include:
- Signing up on the website
- Entering the Craft Economy Minecraft Server
- Providing Liquidity to the CRAFT/OSMO or CRAFT/ATOM pool(s)
- Purchasing a CRAFT NFT (Real estate, skin, or artwork)
Delegators will have 100 days to complete the fairdrop challenges, CRAFT tokens that were left unclaimed were returned to the treasury.
37,500,000 CRAFT were allocated to incentivize liquidity providers for CRAFT. At a future date, the CRAFT/OSMO and CRAFT/ATOM pools on osmosis.zone will begin to receive 'liquidity bribes'.
The incentivized liquidity program lasts for 365 days and distributes roughly 100,000 CRAFT per day to LP's. The CRAFT is distributed on an EPOCH basis, and calculated in proportion to the individuals share of the Total Value Locked (TVL). For detailed information on the Incentivized Liquidity Rewards Program Incentivized Liquidity Rewards Program
37,500,000 CRAFT were allocated to in-game reward reward incentives. In the Craft Economy server, players can earn CRAFT through a variety of actions, including but not limited to: completing quests, winning mini-games, faction competitions, etc.
This pool is structured to last for 365 days, allowing roughly 100,000 CRAFT to be distributed per day. CRAFT that goes unclaimed will automatically roll over into a secondary pool that will allow the program to run longer than the initial 365 day period. For clarity, this means that the rollover fund will not activate until after the 365 days has completed (i.e it will not roll over to the next day's reward pool).
62,500,000 CRAFT remains in the treasury, owned entirely buy the Craft DAO. The treasury is distributed 4% at TGE (10,000,000 CRAFT), and vested for a total of 4 years. 5,000,000 CRAFT (2%) is unlocked per month for 48 months.