$RECORD Token Economics
Last update: 2 July 2024
Token Distribution
| Category | Total ($RECORD) | Allocation % | Vesting |
|---|---|---|---|
Sale 1 | 101,000,000 | 10.10% | 0% at TGE, 12 months cliff, 18 months release |
Sale 2 | 51,666,666 | 5.17% | 0% at TGE, 12 months cliff, 18 months release |
Sale 3 | 50,000,000 | 5.00% | 100% at TGE |
Founders & Team | 140,333,334 | 14.03% | 0% at TGE, 18 month cliff, 36 months release |
Industry Partners | 50,000,000 | 5.00% | 0% at TGE, 4 month cliff, 36 months release |
Community Airdrop | 160,000,000 | 16.00% | 11.67% at TGE, 1 month cliff, 9 months release |
Marketing & Growth | 160,000,000 | 16.00% | 100% at TGE |
Treasury Short-Term | 150,000,000 | 15.00% | 100% at TGE |
Treasury Long-Term | 137,000,000 | 13.70% | 100% at TGE |
Total | 1,000,000,000 | 100.00% |
* These distributions are provisional. Actual distributions are subject to changes until the TGE.
| Months | 0 | 1 | 2 | 3 | 9 | 18 | 36 | 72 |
|---|---|---|---|---|---|---|---|---|
Sale 1 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.37% | 10.10% | 10.10% |
Sale 2 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.72% | 5.17% | 5.17% |
Sale 3 | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
Founders & Team | 0.00% | 0.00% | 0.01% | 0.02% | 0.26% | 0.69% | 7.63% | 14.03% |
Industry Partners | 0.00% | 0.00% | 0.00% | 0.00% | 0.69% | 1.94% | 4.44% | 5.00% |
Community Airdrop | 1.87% | 2.61% | 4.18% | 5.75% | 15.17% | 16.00% | 16.00% | 16.00% |
Marketing & Growth | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% |
Treasury - Short Term | 15.00% | 15.00% | 15.00% | 15.00% | 15.00% | 15.00% | 15.00% | 15.00% |
Treasury - Long Term | 13.70% | 13.70% | 13.70% | 13.70% | 13.70% | 13.70% | 13.70% | 13.70% |
Total | 51.57% | 52.31% | 53.89% | 55.47% | 65.82% | 73.43% | 93.05% | 100.00% |
Glossary of Cap Table Terms:
Sales: pre-TGE private sales to raise funds and gain early support.
Founders and Team: core contributors of the project.
Industry Partners: strategic partners who provide crucial support.
Community Airdrop: Free distribution to promote the project.
Marketing and Growth: marketing efforts and ecosystem growth.
Treasury short-term: short term growth and operational needs including listing liquidity and market makers.
Treasury long-term: long term operational needs for expansion and long-term sustainability.
Treasury Management
The Web3 Music Association, the foundation behind the Music Protocol, is a non-profit organisation established under Articles 60 to 79 of the Swiss Civil Code.
It operates as an independent legal entity with legal capacity under Swiss law.
It is incorporated in Switzerland and follows strict compliance procedures.
The Association underwent a full regulatory assessment with the Swiss Financial Regulator (FINMA) to obtain a token classification as a utility.
It has a structured and rigorous governance model to ensure that management and team members fulfil their purpose of leveraging open-source distributed ledger software and protocols to directly or indirectly promote the growth, development, and adoption of such technologies within the music industry, the surrounding community, and the entire ecosystem.
To ensure the safety of token holders and align with the Association's mission, the treasuries are managed through a multi-signature (multi-sig) account controlled by the Association Governance.
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