Dev Token Allocation Update
Tags: Cryptocurrency, Token Economy

Hello, everyone!

Thank you for the long wait.

We are announcing our Token Allocation Plan. There is no action plan that is ready at this time, but we wanted to let you know as soon as possible in order to keep the transparency of the ecosystem. We hope you can join the Dev Protocol ecosystem with the awareness of the goals we are working towards.

Disclaimer

This is NO final information. Please understand that it may change slightly as the plan progresses. However, no major changes are expected at this time.

What we aim for

Dev Protocol is a decentralized funding platform that aims to create a world where innovators and creators can sustain their challenges. "How would the world change if creators could focus on what they truly want to create?" — We started with that idea and have built a new token ecosystem for creators and put the staking system on it.

There are numerous things in the world that create value but are economically undervalued, not just the OSS, but traditions, education, arts, and all kinds of social activities. We bring economic value to any valuable activity for its sustainability. And they can remain open and do not need to make any changes to their activities.

Current Dev Token Status

First, there are two Dev tokens, the current DEV, and the Legacy DEV. Early OSS developers owned Legacy Dev and it was distributed at MVP before the mainnet started. It needs to be migrated to current DEV by the developer and legacy DEV will not be minted anymore.

DEV: 0x5cAf454Ba92e6F2c929DF14667Ee360eD9fD5b26

Legacy DEV: 0x98626E2C9231f03504273d55f397409deFD4a093

Therefore, total supply is the sum of the two tokens.

FYI: Here is today’s Stats.

Total supply: 12,426,648.92

Circulation supply: 615,960.59

Total staking amount: 252012.6

Staking ratio in circulation: 40.91%

Token Allocation Plan

*Note that it may change slightly as the plan progresses.

Below is a summary of each of the allocation pools and the approximate amounts as of June 30, 2020.

Token Sale

These tokens will go out to public sales in the future. IEO will be planning ahead. At this time we have not decided on any exchange, but we will try to list on the best exchange as possible.

Company

The company, FRAME00, is committed to developing and maintaining the Dev Protocol for a longer term, not just a few years. To keep the company going, there is a generous allocation to cover unexpected occurrences and risks. The amount that exceeds the need could be moved to some other allocation or burned if it is not needed.

Team Option

At this time, Dev team members have not received any Dev at all. We will be giving the team options as a reward for our efforts. 🦾

Community Fund

These tokens have a diverse range of uses to expand the ecosystem. It could be mainly developer grants, bounty programs, and supporters programs that contribute to the community. We build relationships with more developers and grow the Dev Protocol as middleware.

Marketing

These tokens also have a variety of uses too. They can be used for business development, campaigns, PR, and other purposes to reach out to a variety of creators and expand the ecosystem. For example, sponsoring communities of designers, professional gamers, researchers, anime creators, and various creators, and organizing conferences. (Let me know if you have any good ideas!)

Angel/Investors

FRAME00 has raised two rounds of equity funding from VCs and angels in September 2019 and June 2020. Dev team is currently supported by these funds. Investors have not yet received any tokens, but will receive conversions in the future. The details have not been determined, but they would be limited so as not to have a big impact on the market.

Creator/Circulation

These tokens are the current circulating supply. This includes creator rewards to date.

We have just set up this allocation at the moment, and we will start making actions from now on. Please wait for the next update. 📰