It’s time for an update on tokenomics and the coins released during the first three quarters of 2022. This is in fact overdue and we would like our community to be updated on the current status of BDX allocated for ecosystem development and other purposes.
The total supply (excluding the coins that are minted as rewards for validators since POS went live on Dec 10, 2021) is classified into eight different categories and allotted to various multisig wallets. Each of these allocations has a purpose such as ecosystem development, marketing, seed and VC allocation, legal operations, early adopter rewards, team allocation, and exchange liquidity.
BDX allocated for various purposes (as of Dec 10, 2021)
For every quarter, coins are released according to their vesting schedule and utilized for various purposes respectively. In the past three quarters, Beldex has undergone many new developments, dApp releases, exchange listings, etc. For each of these developments, an allocation of BDX that was released was spent. Below is the detailed explanation of how Beldex makes use of the allocated funds and its percentage with respect to the total supply.
The total supply is 9.9 Billion BDX
Ecosystem Development Funds
The ecosystem development fund has a linear and scheduled release at the end of every quarter for three years from 2022.
130680000 BDX were released in the first quarter for BChat’s development on March 31, 2022 (First Quarter)
130680000 BDX were released in the second quarter for BelNet’s development on June 30, 2022 (Second Quarter)
130680000 BDX were released in the third quarter for further development of BChat, BelNet, and other products on the Beldex Ecosystem on September 30, 2022 (Third Quarter)
Thus, a total of 392040000 BDX (3.9% of the total supply) were released from ecosystem development funds in the first three quarters of 2022.
The funds released are used for development and operations as well as hiring new developers, researchers, advisors and further expansion of the team.
BDX currently locked in Ecosystem Development wallet: 3960000000 BDX (36.1% of the total supply)
Seed & VC Funds
Seed & VC funds weren’t used and are available for sale to venture capitalists and investors.
10% of the total supply or 990000000 BDX are allocated for seed & VC sale.
297000000 BDX or 3% of the supply was released from the marketing allocation for advertising and marketing activities.
BDX currently locked in Marketing wallet: 693000000 BDX (7% of the total supply)
The team’s allocation has a 2 year lock since POS went live on Dec 10, 2021. Thus, the entire allocation is currently locked.
The funds will be unlocked on Dec 10, 2023 with a 18 month linear vesting.
BDX currently locked in Team wallet: 594000000 BDX (6% of the total supply)
Exchange Liquidity & Early Adopters
2% of the total supply or 198000000 BDX were released for the purpose of providing liquidity to exchanges.
1% of the total supply or 99000000 BDX were released for the purpose of providing rewards and airdrops to early adopters and the community.
49500000 BDX or 0.5% of the total supply were released from the legal’s allocation for activities such as legal incorporation of Beldex Research Labs, BChat and BelNet as separate entities, renewal of registration for the Beldex Foundation, obtaining legal opinions for purposes of exchange listings and other activities.
BDX currently locked in Legal wallet: 49500000 BDX (0.5% of the total supply)
Thus, the current BDX allocation (as of Oct 1, 2022) is represented as follows,
|Ecosystem Development (36.1%)||3,567,960,000|
|Seed and V.C. Development (10%)||990,000,000|
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