๐Initial allocation
The $ECITY token will be the beating heart of Elrond City. Designed to reward holders and early adopters, it will be the de-facto currency and governance system of the Elrond City ecosystem.
The supply of the token will be hard-capped at 1 000 000 $ECITY tokens. Before the injection schedule starts, a portion of the token's total supply will be pre-minted to better prepare for the launch of the token.
10% of the total supply will be allocated to the team to support continuous development of the project. These funds are to be unlocked gradually over a period of 5 years.
5% will be used for the Insurance fund, stored in a multi-sig wallet and to be used in the event of a hack that would affect users in any way.
10% of the total supply will be stored in a multi-sig wallet to support the Bounty program, and to act as a safety measure.
5% are to be used as initial liquidity and redistributed to incentivize Liquidity Providers, in order to have a liquid market for the $ECITY token as soon as possible.
The remaining 70% of the supply are to be redistributed to holders through active and passive rewards over a period of 5 years, as described in the next section.
Recap:
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