Initial Supply and Emissions Schedule

Breakdown of initial supply and token inflation

Initial Supply

`veTHE` Protocol Airdrop

19% of the initial supply was dedicated to airdrop protocols that demonstrate their willingness to engage with our liquidity layer. When evaluating the available protocols, we have examined a wide range of factors, such as TVL, trade volumes, and product. We have also sought to find a balance between native BNB protocols and those from other chains.

List of protocols receiving the airdrop will be updated once finalized.

`$THE`/`veTHE` Airdrop for Users

25% of the initial supply was distributed to regular users of existing BNB Chain protocols, as well as those new to the chain through THENA. Users has been chosen based on behaviors that promote long-term stability of said protocols, such as: locking, stacking, holding, participating in governance, and continuing to support despite the challenges faced.

`$THE`/`veTHE` Airdrop for `theNFT` Minters

9% of the initial supply was allocated to theNFT minters and is claimable right at launch on THENA.

theNFT minters Airdrop balance between $THE and veTHE:

40% as veTHE locked for 2 years
60% as $THE

Ecosystem Grant

25% of the initial supply was dedicated to a specific fund that will be used to support a wide range of projects that aim to accelerate the growth of THENA. Shortlisted projects will receive significant backing from the core team (smart contract development, marketing, business development, etc.).

Team

18% of the initial supply has been distributed to the team to engage them in the long term success of THENA. The team allocation is balanced between veTHE and $THE vested tokens.

The core team members will have their interests align with THENA by receiving a percentage of the initial supply in the form of voted escrow tokens. This allocation allow team members to participate in the upside of the protocol while having a long-term oriented position.

Team allocation balance between $THEand veTHE:

60% as veTHE locked for 2 years
40% as $THE vested 2 years with a 1-year cliff

Initial Liquidity Providers

4% of the initial supply have been paired with $BUSD and/or $BNB to provide enough liquidity at launch.

Emissions

ve(3,3) Dynamics

The main stakeholders of a typical AMM (on BNB Chain), including veTHE holders, LPs, users, and protocols, are all aligned by the ve(3,3) dynamics that determine THE emissions.

veTHE holders — are incentivized to vote either for the highest volume pools (because the greater the volume, the greater the amount of fees produced as a result), or the ones being bribed by protocols seeking to bootstrap their liquidity. This allows these protocols to create their own flywheel, if the token generates strong volume.

Liquidity Providers (LPs) — are incentivized with emissions driven by “Real Yield” based metrics.

Traders — benefit from the low slippage thanks to the liquidity provided, in concert with the latest and greatest battle-tested vAMM / sAMM tech.

Protocols — have access to a cooperation oriented liquidity layer. They benefit from capital efficient trading conditions for their tokens, and they can incentivize their liquidity via bribes offered to veTHE holders.