đĄToken distribution
Attention: with MIP-28 and MIP-29 passing, all $MC tokens are migrated to the $BEAM token with a 1:100 conversion ratio. The only way to receive $BEAM tokens is by either acquiring or migrating $MC tokens. The token distribution below refers to $BEAM based on the initial maximum total supply of $MC tokens (1 billion tokens). Please note that the current maximum total supply has decreased since the token generation event and has been changing regularly.
Merit Circle started in 2021 with the $MC token. Initially, the token distribution was set up in the manner as shown below. Over time the majority of the vesting schedule has been completed, and $MC has migrated to $BEAM. These changes are documented below.
What has changed to the distribution?
Team and Advisors have been split into Core Contributor Tokens (7.17B BEAM) - which has been cliffed for 4 years instead of 1 year cliff and 3 years vesting. (source)
The Community Incentives have been burned for the majority (20B BEAM tokens) (source)
Public sale: All have been distributed and are part of the circulating supply
Staking rewards: All have been distributed and are part of the circulating supply
Binance Launchpool: All have been distributed and are part of the circulating supply
Retroactive rewards: All have been distributed and are part of the circulating supply
Current distribution Moreover, the majority of all remaining $MC tokens have been migrated to $BEAM - As displayed here, and here.
The initial 1 billion token supply has been reduced through the various burns that have occurred over the years. This can best be displayed in this community-built dashboard or in the $BEAM burn contract or the (old) $MC burn contract.
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