Initial EQT Token Supply DistributionWhen we first released the EquiTrader token, we set aside 10% of token supply for the development fund reserves. This was said to be used for “bounties, giveaways, and development of EquiTrader platforms.”
The rate of supply distribution through mining is 40 EQT per 5 minutes block time. This supply emission structure will produce 57,600 EQT per day, or roughly 1,728,000 EQT per month (30 days). Block halving happens at every 810,000 blocks, which equates to 2,812.5 days and roughly 7.7 years.
To supplement the EQT supply from PoW mining distribution, the EquiTrader team is planning to roll out a bounty program and marketing campaign, that will allow users to earn EQT for completing specified tasks.
To smoothen out the emission of EQT token supply over the remainder of 2017, we have set aside about 2 months of supply attainable via mining, totalling 720,000 EQT tokens or 10% of the development fund, to the bounty program and marketing campaign.
This initiative will kick off with the Bounty Program which will last 10 weeks starting from 1st June 2017, followed by the Marketing Campaign which will end on 31st December 2017. More details on this will be shared in May 2017.
That said, you may be asking, how is the remaining 90% of the development fund allocated?
Development Fund UpdateThe development fund totals 7,200,000 EQT tokens. To mine this number of EQT tokens via Proof-of-Work, it will require 125 days. As of today, we are breaking down the development fund as follows:
As shared above, 10% of the fund will be set aside for the Bounty Program & Marketing Campaign, which will run through the whole of 2017.
The remainder of the funds will be kept and allocated for the following purpose and used in the following ways:
Allocation40% - 2.88 Million EQT - Research & Development
50% - 3.6 Million EQT - Reserves
Research & DevelopmentEquiTrader platform
EquiTrader mobile apps
Social trading platform
EQT Token improvements
Incentive program
ReservesReserves may be used in various ways, including but not limited to, distribution, development, expenses, salary, etc.
More information will be shared in due course.
In my next posts, I will be sharing more information about the roadmap, and what we think is the best way forward for the brand, cryptocurrency token, and trading platforms and services.