Tokenomics
Azarus, Inc. is a venture-backed tech startup using equity and debt to finance its development. Azarus was founded in 2018 and received its first seed round of equity financing in 2019. Azarus will be issuing a token, separate and distinct from its equity, that has a central role in organizing the Azarus Games ecosystem, a.k.a. the fandom economy.
Access to the token at issuance will be open to existing Azarus investors, and new equity investors who want to directly participate in the fandom economy help drive the token's success as the currency of fandom for livestreams. Existing Azarus debt holders will be invited to convert a minority portion of their debt into the token.
In the future, the next rounds of financing will continue to be through equity offerings with the opportunity for equity purchasers to also acquire AzaCoin, up to the amount of equity invested, to directly participate in the fandom economy.
Existing AZA credits in viewers' hands will convert automatically into AzaCoins with a ratio of 50:1.
Name | AzaCoin |
Symbol | $AZA |
Type | Utility & Governance |
Network | ERC-20 issued on Ethereum mainnet, bridged to Azarus's L2 |
Supply | 1,000,000,000 soft cap |
Contract | |
Vault |
The AzaCoin will be vested following the schedule below.
Unlike most token issuances, the $AZA will replace an existing credit, the AZA credit, across a thriving ecosystem already in place. As a consequence, we defined a set of rules that take into consideration the need for liquidity in the ecosystem as well as the need to align the supply with the growth of the network over time.
The Team and Advisers will have a 2 year delayed vesting followed by a 2 year linear vesting of their allocation
Existing AZA credit holders will have the opportunity to convert their AZA credits into AzaCoins, with a 6 month vesting period (details in the table below).
All other recipients will have an initial distribution of tokens on the first day: Day-0. The tokens will go into circulation immediately to fuel the ecosystem.
The liquidity pool will vest linearly over 12 months to bring the needed liquidity by launching the Token in top crypto-exchanges.
The Marketing and Community Treasury allocations will vest linearly over 4 years to provide a steady influx of tokens for use in the economy’s growing volume.
All other recipients will have their token allocation released over a schedule inspired by the natural Fibonacci sequence over the next 4 years. The first year, 3% of the supply is released at the token generation event. Then in the following years, a monthly number of tokens following the Fibonacci distribution is released. The objective of this method is to avoid long lock-ups and provide a steady, increasing amount of Tokens to be injected back into the economy.
Advisors, Team and Equity Investors will have 12 months of delayed vesting after their initial Day-0 vesting.
The table below summarizes this vesting schedule.
Allocations and terms are decided by the company's board of director.
Based on market conditions and company needs, the board of director has a mandate to adjust allocations and vesting schedules as required.
Last modified 9mo ago