Tokenomics
Allocation Overview
Minima has a hard-capped supply of 1 billion coins, that will slowly reduce over time as a result of The Burn.
All coins will be minted at the Token Generation Event and allocated into the following categories:
Allocation categories are discussed in more detail below.
First, an overview of the total circulating supply of Minima coins, followed by an outline of how coins will be split between Native Minima ($MINIMA) and Wrapped Minima ($WMINIMA) after the Token Generation Event.
Total Circulating Supply
Circulating supply measures how many coins are unlocked from the total supply over time. The number of coins released from a particular allocation category at any given time is determined by the release schedule for each allocation category, specified in the Release Schedule section of this paper.
The majority of Minima’s supply is subject to long-term lock-ups to slowly ease liquidity into the market. All supplies issued at the Token Generation Event will be unlocked after 39 months.
The chart below shows how Minima’s total circulating supply will gradually release coins into the total supply in time. The horizontal line at the top of the chart represents Minima's hard-capped supply of 1 billion coins. However, the chart ignores how The Burn will slowly reduce Minima’s total supply over time.
All charts included in this paper begin on the month of the Token Generation Event, March 2023.
In addition, the following table shows Minima’s total circulating supply at key milestones:
| Token Generation Event | 1st anniversary | 2nd anniversary | 3rd anniversary | 39 months | |
|---|---|---|---|---|---|
| Wrapped Circulating Supply | 98,100,000 | 125,000,000 | 125,000,000 | 125,000,000 | 125,000,000 |
| Native Circulating Supply | 120,435,000 | 530,155,538 | 736,778,077 | 847,355,615 | 875,000,000 |
| Total Circulating Supply | 218,535,000 | 655,155,538 | 861,778,077 | 972,355,615 | 1,000,000,000 |
| Total Supply | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Exchange Tradable Supply at TGE
The exchange tradable liquidity of Minima coins will only be via Wrapped Minima ($WMINIMA) at the Token Generation Event (TGE).
Prior to launching Native Minima on exchanges in Q3/Q4 2024, Native Minima ($MINIMA) will be tradable peer-to-peer for ETH or any ERC-20 token via the MiniSwap MiniDapp that is available.
The following pie chart demonstrates that only 9.81% (98,100,000 coins) of the Total Circulating Supply of Minima coins will be available on exchanges at TGE as $WMINIMA:
Token Generation Event (TGE)
100% of Native Minima (1,000,000,000 $MINIMA coins) will be minted at the Token Generation Event, and 12.5% of these coins will be wrapped on the Ethereum blockchain as ERC-20 tokens (125,000,000 $WMINIMA coins), in order for Wrapped Minima to be tradable on exchanges shortly after the event.
Native Minima (875,000,000 $MINIMA coins) is available to trade peer-to-peer via the MiniSwap MiniDapp and then on exchanges once the necessary middleware integration has been implemented, expected Q3/Q4 2024.
| Supply | Process | |
|---|---|---|
| Total Minima | 1,000,000,000 | Minted at Token Generation Event |
| Wrapped Minima ($WMINIMA) | 125,000,000 | Wrapped on Ethereum as ERC-20 tokens |
| Native Minima ($MINIMA) | 875,000,000 | Native Minima for circulation |
Release Schedule
Total Minima
Includes both Wrapped Minima ($WMINIMA) and Native Minima ($MINIMA). It represents 100% of the total supply and has the following release schedules per category:
| % Allocated | % Available at TGE | Post TGE Release Schedule | |
|---|---|---|---|
| Presale Tranche 1 | 1% | 100% | n/a |
| Presale Tranche 2 | 1% | 100% | n/a |
| Presale Tranche 3 | 2% | 100% | n/a |
| Presale Tranche 4 | 2% | 100% | n/a |
| Treasury | 10% | 0% | Distributed over a 10-year period |
| Node Incentives | 12.00% | 100% | n/a |
| Loyalty Program/Grants | 23.00% | 0% | Distributed over a 10-year period |
| Team & Advisors | 15.70% | 0% | 3 month cliff, then linearly over 36 months |
| Private Seed | 7.49% | 33% | Remaining 67% available after 12 months |
| Seed | 14.03% | 25% | 5% available per month for 15 months |
| Private 1 | 10.73% | 40% | 5% available per month for 12 months |
| Private 2 | 1.05% | 50% | 5% available per month for 10 months |
Wrapped Minima ($WMINIMA)
Represents 12.5% of the total supply and has the following release schedules per category:
| % Allocated | % Available at TGE | Post TGE Release Schedule | |
|---|---|---|---|
| Presale Tranche 1 | 100% | 100% | n/a |
| Presale Tranche 2 | 100% | 100% | n/a |
| Presale Tranche 3 | 100% | 100% | n/a |
| Presale Tranche 4 | 100% | 100% | n/a |
| Treasury | 7% | 0% | Linearly over 3-5 years |
| Team & Advisors | 10% | 0% | 3 month cliff, then linearly over 4 months |
| Private Seed | 10% | 100% | n/a |
| Seed | 10% | 100% | n/a |
| Private 1 | 10% | 100% | n/a |
| Private 2 | 50% | 100% | n/a |
Native Minima ($MINIMA)
Represents 87.5% of the total supply and has the following release schedules per category:
| % Allocated | % Available at TGE | Post TGE Release Schedule | |
|---|---|---|---|
| Treasury | 8.84% | 0% | Distributed over a 10-year period |
| Node Incentives | 12.00% | 100% | n/a |
| Loyalty Program/Grants | 23.00% | 0% | Distributed over a 10-year period |
| Team & Advisors | 14.08% | 0% | 3 month cliff, then linearly over 36 months |
| Private Seed | 6.74% | 33% | Remaining 67% available after 12 months |
| Seed | 12.63% | 25% | 5% available per month for 15 months |
| Private 1 | 9.66% | 40% | 5% available per month for 12 months |
| Private 2 | 0.46% | 50% | 5% available per month for 10 months |
Allocation Categories
Public Sale
16% of Minima's total supply (160,000,000 coins) is allocated to the Public category, that includes both Public Presale and Treasury subcategories.
Public Presale
6% of Minima's total supply (60,000,000 coins) was allocated to the Public Presale.
The Public Presale was for Wrapped Minima ($WMINIMA) which is an ERC-20 token on the Ethereum blockchain. This enabled Minima to be tradable on exchanges shortly after the Token Generation Event, without waiting for technical integration of Native Minima ($MINIMA) onto exchanges, scheduled for Q3/Q4 2024.
The Public Presale had two ‘tranches’ with a limited volume of coins in each, as shown below:
| Start | End | |
|---|---|---|
| Date | 14th Feb 2023 | 21st March 2023 |
| Time | 10:00 UTC | 10:00 UTC |
| Tranche | Tranche 1 | Tranche 2 |
| Coins for sale | 10,000,000 | 10,000,000 |
| Discount | 30% | 20% |
| Price (USD) | $0.21 | $0.24 |
| Min investment size (USD) | $50 | $50 |
| Max investment size (USD) | $25,000 | $100,000 |
| Release schedule | 100% at launch | 100% at launch |
Treasury
10% of Minima's total supply (100,000,000 coins) is allocated to the Minima Foundation.
The purpose of the foundation is to support, maintain and improve Minima, by providing services for the benefit of the project. With the aim to ensure the network remains completely decentralized over time.
The foundation's main responsibilities include; the regulation and monitoring of token issuance, the management of intellectual property, public relations work, as well as the development of Minima’s public image. It will also oversee the funding of cutting-edge projects, to enable the ecosystem to thrive.
Circulating Supply
The chart below shows how coins allocated for the Public Sale category will gradually be released into the total supply in time:
Node Incentives
Up to 12% of Minima's total supply (120,000,000 coins) will be allocated to Node Incentives.
Node Incentives were distributed via an Incentive Program that rewarded early community members for running a node, alongside an Invite Program, which rewarded members for inviting new members to join.
Rewards earned by Incentive Program members will be distributed as Native Minima ($MINIMA). An additional 75 coins are available for Incentive Program members who continue to run their node 6 months after the TGE, and a further 75 coins are available at the 1-year anniversary of the TGE. These Rewards will be allocated from the Loyalty Program/Grants fund.
The final Node Incentives coin allocation will be determined after the Proof of Person process is complete. Once known, any coins not utilised will be directed towards the Loyalty Program & Grants category, continuing to reward early adopters for bootstrapping the network, while ensuring a flourishing ecosystem is built.
Circulating Supply
The chart below shows how coins allocated for the Node Incentives category will gradually be released into the total supply in time:
Loyalty Program & Grants
23% of Minima's total supply (230,000,000 coins) is allocated to the Loyalty Program & Grants category, that includes both Loyalty Program and Grants subcategories.
Loyalty Program
Although the loyalty program has now ended, users can earn a yield on their native Minima coins via the Maximize MiniDapp. Yield is in the form of native Minima, paid to participants who lock up their holdings for set periods of time - encouraging continued node running and reducing the total circulating supply of Minima while creating genuine demand for coins.
Grants
Grants are available for building interesting and novel use cases on Minima. They will be awarded to developers and entrepreneurs, in collaboration with a range of Minima partners, to accelerate the growth of the network.
Bounties are also be available for individuals who discover critical bugs and report them to the #bug-reports channel on Discord, before anyone else.
Circulating Supply
The chart below shows how coins allocated for the Loyalty Program & Grants category will gradually be released into the total supply in time:
Private Allocations
49% of Minima's total supply (490,000,000 coins) is allocated between the Team & Advisors, Private Seed, Seed, Private 1 and Private 2 categories.
Earlier rounds were conducted when the technology was not yet built, or at a very early stage. The pricing of these rounds reflected the level of risk that early backers were prepared to take as early believers in Minima’s long-term vision.
Rounds prior to the Public Presale sold at the following prices:
| Round Name | Team & Advisors | Private Seed | Seed | Private 1 | Private 2 |
|---|---|---|---|---|---|
| Price (USD) | n/a | $0.01 | $0.02 | $0.06 | $0.20 |
| Release schedule | 3 month cliff, then linearly over 36 months | 33% at TGE, 67% after 1 year | 25% at TGE, then 5% per month | 40% at TGE, then 5% per month | 50% at TGE, then 5% per month |
| % total allocation wrapped & on exchanges at TGE | 0% | 10% | 10% | 10% | 50% |
Circulating Supply
The chart below shows how coins allocated for the Team & Advisors, Private Seed, Seed, Private 1, and Private 2 categories will gradually be released into the total supply in time:
