AIP 10: New Token Treasury

[dmosites]

Summary

On October 10th, 2017 the AirSwap token launched to 9,447 people from 135 countries. For the initial launch, AirSwap published a token treasury plan, including allocations for the token sale, advisors, founders, and partnerships. The remaining portion was locked for future use.

Three years later, having implemented the initial roadmap and continued to iterate on AirSwap protocols and products, a new token system is under development, creating an opportunity to consider the next three-year plan for the AirSwap treasury.

Specification

Of the total supply, the initial treasury plan allocated 150M to the token sale. Since launch, 22.3M tokens were distributed to advisors and partnerships. We present for consideration a new plan for the remaining 327.7M tokens in the multisignature wallet as follows.

Development: 10%

Protocols, tooling, application development, etc.

• 32.7M AST will be allocated for development over 3 years.
• Tokens to be distributed to individual contributors in the community.
• Tokens to be distributed through development team grants and agreements.

Growth: 15%

Liquidity mining, referral programs, airdrops, etc.

• 49.16M AST will be allocated for growth over 3 years.
• Tokens to be distributed through programs that aim to grow the network.
• Tokens to be distributed through programs that aim to grow the community.
• Expect a lot of experimentation in these programs.

Marketing: 5%

Web, social media, advertising, etc.

• 16.39M AST will be allocated for marketing over 3 years.
• Tokens to be distributed to developers for work on web sites and properties.
• Tokens to be distributed toward promotions, advertising, and social media campaigns.

Locked: 70%

Remaining 229.39M AST to be locked for 3 years or subject to future community votes.

Rationale

• Going forward, we believe that periodically unlocking tokens for key project activities ensures project sustainability and success. New multisignature wallets for each of development, growth, and marketing token balances will be created.
• Distributions directly from treasury (and AIPs overall) should meet a minimum impact threshold. For many smaller uses it's likely that a single AIP is best. For example, a one-time AIP to support several Gitcoin bounties.
• Distributions should (and generally will) go via AST+ and therefore be subject to the locking and unlocking rules of AST+ rather than introducing another system for vesting.

Copyright

Copyright and related rights waived via CC0.