📊Initial 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:

Allocation	% of total supply	Quantity	Unlock period
Holders	70%	700 000 $ECITY	5 years
Elrond City Team	10%	100 000 $ECITY	5 years
Insurance fund	5%	100 000 $ECITY	None
Bounty program	10%	50 000 $ECITY	None
LP incentives	5%	50 000 $ECITY	To be defined