Beldex Tokenomics Update

Beldex Tokenomics Update

Dear Beldians,

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.

Q1 2022

130680000 BDX were released in the first quarter for BChat’s development on March 31, 2022 (First Quarter)

Transaction Hash: 

f1ea67569a5b14e799dd55c5d9d350be313d3cfabeb984c2bd17f9397d1e8ecf 

Q2 2022

130680000 BDX were released in the second quarter for BelNet’s development on June 30, 2022 (Second Quarter)

Transaction Hash: 

8c7d687b0cd8ec1f379bcec8bcb66d1fbcfa3eedceee9799206a7b4d27a1d5d7 

Q3 2022

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)

Transaction Hash: 

ac140fdf06504922c01b857a81ce55a2a922dee853ff3844397c7813cb84f6a1

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.

 

Marketing Funds

297000000 BDX or 3% of the supply was released from the marketing allocation for advertising and marketing activities.

Transaction Hash: 

8d0e86b1ab41080a1f6646b55e8bd21695c872ee07fd20a3ec69e4b8aaca4628

BDX currently locked in Marketing wallet: 693000000 BDX (7% of the total supply)

 

Team Allocation

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.

Transaction Hash:

d686bebd8b51e74b0dac716d01fff9946a56d7fb5830173b3ae9c462abca589c

1% of the total supply or 99000000 BDX were released for the purpose of providing rewards and airdrops to early adopters and the community.

Transaction Hash:

b272537fec762c975bb9ac8409a14f763a1adc035cfb6633046db9a5d4c7420f

 

Legal Operations

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.

Transaction Hash:

f3fbc1a6478a04362ee5e9461ae3106bb86b08851f897d6bd9ac777cbb66bdd7

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,

 

Category BDX
Circulation (40.4%) 4,005,540,000
Ecosystem Development (36.1%) 3,567,960,000
Seed and V.C. Development (10%) 990,000,000
Marketing (7%) 693,000,000
Team (6%) 594,000,000
Legal (0.5%) 49,500,000
Total 9,900,000,000 BDX

Stay tuned for more updates about Beldex and follow our official social handles to get instant news.

Telegram | Twitter | Discord | Facebook | Instagram | LinkedIn | Medium