📊Tokenomics
Florence Finance Medici token distribution
Last updated
Florence Finance Medici token distribution
Last updated
All FFM tokens in existence will be fully minted on Ethereum blockchain as ERC20 tokens and bridged to Arbitrum. The FFM token contract has a MAX supply of 1,000,000,000 tokens. Previously issued MDC tokens (~300m minted / in issue) will be convertible to FFM upon expiry of FFM lock-ups pertaining to specific MDC token holders. FFM tokens with specific lock-ups will be put into smart contract lock-up vesting contracts for all to see on-chain. Treasury and Community tokens that are purposefully meant to be distributed to fund the project and drive community engagement and adoption are controlled by the team in separate multisig wallets and will be distributed as needed.
Treasury (15% of total supply) - These tokens are minted with the purpose of further funding the project post initial sale to investors. We will do this in the most transparent way possible and fully inform the community. These tokens could be used as balance for DEX liquidity pools or to pay for CEX listings, market makers, and new investor rounds. The purpose of these tokens is to expand the growth of the Florence Finance protocol for the community. This is effectively a reserve at the moment the project is fully funded and has a large enough runway.
Community (50% of total supply) - These tokens are meant to incentivize liquidity and adoption of the protocol and will be distributed to the community over time. This will ensure that the overall distribution of the FFM token is fair and a large portion ends up with our community which will be key to driving the democratization and decentralization of credit creation.
Core Team (10% of total supply) - These will be reserved for core team members and locked for 18 months post mint. Allocated tokens are also subject to further personal vesting schedules. So far approximately 37m tokens have been allocated out of 100m tokens (37.7%) meaning we have plenty of tokens for the team to grow and be properly incentivised going forward. All new team members will be subject to similar lock-ups and vesting as the original team.
Seed Investors 25% - These are allocated to our seed investors who were vital to getting the project off the ground, and still play a key role in growing the project. These tokens were subject to a 6-month lock-up (from Minting) after which investors will be able to claim them in return for their originally issued & fully vested MDC tokens subject to 18 month linear vesting schedule.
