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Florence Finance Medici token distribution
FFM tokens are minted when they are required and have a MAX supply of 1,000,000,000 tokens, so far 293,383,407 tokens have been minted into vesting contracts and a further 10m have been pre-allocated (unminted). When the protocol needs tokens they will be minted, for example when the liquidity mining begins, a portion of the liquidity mining tokens will be minted and distributed to the community.
- Foundation: only to be minted for the strict use of 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.
- Treasury: minted with the purpose of further funding the project, we will do this in the most transparent way and fully inform the community. This is effectively a reserve at the moment the project is fully funded and has a large enough runway.
- Liquidity Mining/Community: 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.
- Marketing/Partnerships: distributed to marketing & other partners that helped us raise the seed funding and are locked for 12 months (from 01 Feb 2022) and have 12 months of linear vesting starting 01 Feb 2023.
- Core Team: reserved for core team members and are locked for 18 months from the moment they are awarded and have a 12-month linear vesting schedule. So far only 36,000,000 tokens have been allocated out of 130,000,000 tokens (27.7%) meaning we have plenty of tokens for the team to grow. All new team members will be subject to the 18-month lock-up and 12-month vesting from when they join the team.
- Seed Investors: 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 are subject to a 6-month lock-up (from 01 Feb 2022) and 12-month vesting schedule starting 01 Aug 2022…i.e. they are fully vested today.