Tokenomics

JFI tokens are the governance token for the Jungle Defi platform. Once governance has been implemented into the protocol as a feature, holders will be able to propose and vote on matters such as which vaults are added to the platform, duration of vaults, token emission rate (as attached to vaults), fee schedule and treasury management. Initially, proposals and voting will be limited to the addition of new vaults. Any further proposals must be submitted publicly with complete code and an extended proposal time for community review before implementation.

Distribution

Token economics and distribution are as follows:

• Hard-Capped Supply: 10,000,000 (Ten Million)

• Founders: 1,000,000 (One Million) or 10%

• Treasury: 1,000,000 (One Million) or 10% 500,000 (Five Hundred Thousand) or 5%

• Seed Round Investors: 1,000,000 (One Million) or 10%

• Airdrop: 500,000 (Five Hundred Thousand), or 5% 1,000,000 (One Million) or 10%

• Farm Rewards: 6,500,000 (Six Million, Five Hundred Thousand), or 65%

Please note the updated distribution! We have decided to airdrop an additional 500,000 tokens, doubling the initial airdrop allocation! These tokens will be taken out of the treasury's token allocation and do not change the total supply or emission schedule.

Unlock Schedule

Founders and seed round investors have a vesting period lasting six months from the date of airdrop distribution, with 2% of the total locked tokens unlocking at the 6 month mark and each month thereafter until all tokens are unlocked over the course of 50 months.

The cost basis for all seed investors is $0.10 per token.

Treasury tokens are unlocked immediately on launch and used for community incentivization and collaboration, though they may also be sold as a last resort in order to cover ongoing development costs. If this becomes necessary, any proposed sales from the treasury will be brought to the community for discussion beforehand and occur in a manner designed to cause minimal market impact.

Farm Reward Emission

Farm rewards are to be distributed with the goal of a 10-year complete emission schedule, with no more than 10% of the total supply to be emitted as liquidity mining incentives in any 12-month span of time. Emission rate will be determined on a per-vault basis to incentivize the desired level of user participation. Emissions will be deposited directly into the protocol treasury and will be then allocated as rewards to the proper pools on a monthly basis.

The treasury will be controlled by the multisig holders and handed over to the community via governance once implemented. A spreadsheet detailing the projected JFI emission schedule breakdown is available here, summarized by the graph below: