Distribution Questions: Answered.

OPENFT
3 min readFeb 17, 2021

First Day Success:

37,000$ raised in <24 hours.

Quick announcement that we now have ~30 presale investors, and over 37k raised. Tokens are going quick, hop in TG for questions!
TELEGRAM: https://t.me/OpeNFT

PRESALE INVESTORS: https://github.com/0peNFT/presale_investors/blob/main/PRESALE_INVESTORS.csv

Let’s talk distribution.

User / Artist Rewards (35%):

This supply will be distributed linearly over the first 3 years of the protocol to ensure that users can join the community and earn rewards for participation and being early adopters. Rewards will relate to user engagement, such as staking on an artist that performs well; or voting on a piece of art in the competition.

Dev Supply (30%):

Although our presale funds are being used exclusively for dev work, that does not mean we don’t need a dev share. The entire point of this distribution model is for a sustainable growth model, hence why we have inflation and not a fixed cap. Inflation isn’t inherently bad, and it allows you to do cool things like reward user engagement. If all users have the ability to participate equally in the inflation / rewards then it shouldn’t be a concern. Dev supply is also where core team members will receive their share of tokens.

The dev share has a linear release schedule over 3 years, with quarterly cliff vesting. (looking into a way to do linear vesting just have to make sure its gas cost considerate)

Pre Sale(15%):

This is where we’re at now. Buyers at this stage will be one of the few groups to actually have tokens unlocked and accessible at platform launch (or shortly thereafter). I will explain why a short delay before token launch after platform up is beneficial in my eyes in the next section

Future Drops(10%):

This is our supply that we can use to bootstrap excitement in the initial stages of platform launch. If we launch the platform and have users start using our services before the token launch, that gives us a list of people with vested interest in our platform who we can drop the token to at launch. Without waiting for user activity the best we can do is a generic drop to NFT holders, most of which will likely go unclaimed.

Treasury(10%)

This is for partnerships with other platforms / tokens / teams. It is very unlikely to be used within the first 6 months, but locking it would be foolish and leave our team out of luck if another platform did want to partner with us. Tokens will remain unlocked but wont be permitted to engage with platform at launch.

With all of that said: here is what the true day 1 distribution looks like.

No dev supply, treasury, or user rewarded tokens at launch.

Is there a deadline?

We are not stating a deadline as it was just encourage people to sit idle and wait for that deadline to approach. Sale is hard capped at 277.5 ETH which comes out to around 500k USD at 1800 ETH/USD.

When will token launch?

We started dev work at the end of 2020 and I paid for a front end build myself in react, which were the screenshots seen in the first medium article. The entire react build is done, front end finished. We have to work on backend which I estimate should take ideally ~1 month but at the most 2 if we want to impress with a lot of features at launch.

Example of our UI / front end that is finished.

Token will be launched shortly after website goes lives. So ETA ~1–2 months.

How do I invest?

You can’t. Sold out LOL.

https://github.com/0peNFT/presale_investors/blob/main/PRESALE_INVESTORS.csv

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