Token Distribution

The best token projects focus on tokens as a means to build network effects and help govern the network. The token sale is simply a bonus that can be used to facilitate distribution and raise money.

We are still collectively deciding how to allocate tokens and the percentage of funding to use for what but the initial (working charts on) distribution is as follows. If you would like to suggest something please leave us a comment here.

For Measurement Tech, Onboarded Organizations, and Artists a percentage of their token pool is distributed to them after each time they complete an action. Percentage is used to encourage early adopters but be able to disperse to anyone who wants to become part of Akorn into the future.

Measurement Technology

Scientific organizations and specialists in the field of measuring and verifying that actions have occurred as well as the benefits from them will work with Akorn to develop methodologies. Each time one of their methodologies is used, code is interacted with, a percent of tokens is distributed to them.

Currently this is 0.2% for completely new methodologies and 0.1% for existing methodology revamps.

Developers

Coding that is outside the area of measurement and verification of actions will also be rewarded.

Each time a code is used, 0.00001% of the token supply is distributed.

Onboarded Organizations

Once an onboarded organization has the action they have implemented measured and verified to have been carried out, they receive a percentage of the token pool. After they have been measured and verified to be able to carry out the action funded, they are able to sell more actions. Each time their action is sold a further percent of the token pool is distributed.

Currently the percent for initial onboarding is 0.1% and each time after 0.05%.

Artist

Each time an artwork is sold on our NFT marketplace, the artist who made that art receives a percent of the token pool.

The current percent is 0.01% for each piece of art sold.

Founders

A small percent of tokens are designated to the originators of Akorn as a reward for originating the idea and supporting it since the beginning.

Lay community

Tokens distributed to the lay community are described below.

Gifting

When the lay community supports Akorn monetarily they are gifted a token. For example: when an NFT is bought for the first time (channeling funds to the regenerative action) the funder gets a percentage of the token pool.

Currently this is at 0.1%.

Embedding in NFTs

When an NFT is minted from the Akorn DAO marketplace, a percentage of staked tokens are embedded into it's smart contract. These tokens accumulate the staked yields but are irreversibly fused to the smart contract of the NFT.

Currently this is at .00001% of the token pool

Initial DAO Participants

This allotment of tokens will be distributed to all members of Akorn DAO based upon metrics (SourceCred, Coordinape, Invite Links) of early contributions to Akorn DAO by the time the community decides that the MVP is ready and it is time for the Initial Discord Offering.

Initial Discord Offering (IDiO)

The first round of funding will be gathered through an Initial Discord Offering, this offering will be to the community members of the Discord only and invite links will be frozen for a duration of time to not allow new members to join during it. The mechanism for price discovery is still up for debate.

Liquidity Bootstrapping (LBP)

The funding gathered in the IDiO will be used to create a liquidity bootstrapping pool with Balancer LBP. The rest of the funding needed should be able to be gathered through this event. If not an IDO/ IDOs will be used.

IDO

In the case of not receiving enough funding from the LBP an IDO will be created for the rest of the tokens to be distributed.

Use of Funds

The funding gathered will be used for a variety of purposes.

Development

The primary funding is for development of Akorn, it is expected that this funding will be distributed back to members of AkornDAO that are working in a decentralized nature to make Akorn's ideas into a reality. If needed centralized teams can also be hired.

Operations

The establishment of a legal entity for Akorn that is able to legally issue tokens and comply with regulations will need to be done. This funding is used to recoup these expenses (as the establishment will occur before the distribution of tokens) as well as the continuation of these operations.

Marketing

We will want to partner with other decentralized organizations and news outlets to get Akorn into the public's perspective. This funding will be used for that.

Legal Framework

To make sure we comply with the legal regulations applicable to Akorn we will hire a legal team. This funding will be used to cover legal expenses.

Contingencies

Any unexpected cost to Akorn should be covered in the contingencies budget.