MOXIE Token
Moxie's primary cryptocurrency MOXIE enables you to participate in the Moxie ecosystem and own the project together with the rest of the community.
MOXIE at a Glance
| Property | Details |
|---|---|
Token Name | MOXIE |
Ticker | MOXIE |
Blockchain | Base |
Fixed Initial Supply | 10,000,000,000 |
Launch date/time | 29 July, 2024 - 14:00 UTC |
MOXIE Token Contract (on Base) | |
Circulating supply | |
Current total supply = (Fixed Initial Supply - Token Burns from Protocol Fees) |
Role of MOXIE
Moxie's native asset MOXIE is an essential part of the Moxie economic engine, which continuously requires participants to buy and lock-up MOXIE into Moxie Protocol contracts, while the Protocol burns MOXIE with every transaction.
Members require MOXIE in order to purchase Fan Tokens of Members, Channels, and the Farcaster Network via Moxie Batch Auctions and Bonding Curve Contracts. Fan Tokens provide numerous benefits.
3rd parties must acquire MOXIE and lock it in the Rewards contract to offer "proof of work" Rewards in the protocol.
MOXIE swapped for Fan Tokens are locked in the protocol until sold.
Every time a Fan Token is auctioned or sold, the protocol collects a 5% fee.
After Fan Token Auctions, 100% of the Protocol Fee (5%) is set to be burned
Every time a Fan Token is sold:
50% of the fee (5% x 50% = 2.5%) is distributed to the Subject whose Fan Tokens are being sold
50% of the fee (5% x 50% = 2.5%) is in MOXIE collected by the protocol and currently set to be burned.
The fee amounts and usage of the fees can only be changed by DAO vote
This diagram shows an example flow for buying/selling Channel Fan Tokens and the Protocol 5% burning fees with every purchase and sale
GOVERNANCE & VOTING RIGHTS
Governance and voting rights are provided for all token holders in a model that ensures progressive decentralization. See Governance.
TOKEN DISTRIBUTION & SUPPLY
MOXIE is an ERC-20 token on the Base blockchain. MOXIE will have a total supply of 10,000,000,000 MOXIE at genesis. 50% of the tokens are earmarked for the ecosystem and 20% for Protocol Development. 10% is allocated to ensure liquidity at launch so developers can use the Protocol. The entire supply is split across seven categories described in the chart and table below.
Details
| Category | Description | % |
|---|---|---|
Airdrop 1: Farcaster Members | Claimable at TGE by 53,206 Farcaster Members who have achieved certain Farcaster engagement criteria prior to the MOXIE Token Launch, exact criteria to be announced at TGE. Vests daily over 180 days. Recipients can opt-in (in Frame) to use unvested tokens within the Moxie Protocol to purchase/sell Fan Tokens, however the underlying MOXIE cannot be transferred until vested. | 5% |
Airdrop 2: Farcaster Builders Program | Claimable at TGE by 1,239 Farcaster Builders who achieved certain criteria prior to 26 June, 2024, as published on the moxie.xyz website. Vests daily over 180 days. Recipients can opt-in (in Frame) to use unvested tokens within the Moxie Protocol to purchase/sell Fan Tokens, however the underlying MOXIE cannot be transferred until vested. | 5% |
Engagement Mining | Tokens specifically earmarked for use as daily "proof of work" Rewards for Farcaster members. Developers can also apply for Rewards grants from the Moxie Protocol Foundation DAO. Rewards grants can only be used as Rewards in the Moxie system. | 15% |
Ecosystem Programs | Tokens allocated to builders for research, development, and ecosystem initiatives including: - Protocol maintenance and development - Programs and grants for developers, and partners - Potential future Engagement Mining programs The Moxie DAO has already committed to 2 retroactive grant programs at launch. Additional ecosystem grant programs will be announced shortly. | 25% |
Liquidity Pool & Liquidity Mining Programs | Tokens specifically earmarked for ensuring market liquidity for users of the Moxie Protocol | 10% |
Early Backers | Early supporters of Moxie protocol development | 18.81% |
Core Contributors | Airstack developers, the first core contributor to Moxie, hired by Moxie to build, maintain and enhance the protocol | 21.19% |
Unlocks
The 10 billion MOXIE supply at genesis will be subject to several different unlock schedules. All tokens, locked or unlocked, may be used in the protocol, however only unlocked tokens may be transferred onchain.
Circulating supply is defined as the amount of MOXIE tokens in general circulation without onchain transfer restrictions.
Available supply is defined as the amount of MOXIE tokens that are either part of the circulating supply or are unlocked but subject to some form of governance to determine when the tokens are allocated. This includes the unlocked portion of the Ecosystem tokens and the tokens set aside for future Engagement Mining initiatives.
The definitions for circulating and available supply were adapted from Optimism’s definitions.
The Unlock schedule by category is described in the table below and accompanying chart. All unlocks occur daily.
| Category | Unlock Schedule |
|---|---|
Airdrop 1 | Unlocks at the rate of 1/180th per day over the 180 days following the TGE. Recipients can opt-in (in Frame) to use unvested tokens within the Moxie Protocol to purchase Fan Tokens, however the underlying MOXIE cannot be transferred until vested. |
Airdrop 2 | Unlocks at the rate of 1/180th per day over the 180 days following the TGE. Recipients can opt-in (in Frame) to use unvested tokens within the Moxie Protocol to purchase Fan Tokens, however the underlying MOXIE cannot be transferred until vested. |
Engagement Mining | 25% unlocked at launch and then as per governance. |
Ecosystem Programs | 1/3 unlocked at launch but subject to governance for issuance. Remaining 2/3 unlocks continuously from year 1 to year 3, subject to governance for issuance. |
Liquidity Pool & Liquidity Mining Programs | 100% unlocked at tge. |
Early Backers | 1 year cliff, then unlocked daily for subsequent 12 months. (24 months in total) |
Core Contributors | 1 year cliff, then unlocked daily for subsequent 30 months. (42 months in total) |
MOXIE Circulating Supply By Month
This spreadsheet contains the detailed token release waterfall.
Free vs. Paid Rewards Forecast
The "Free" Common Goods Engagement Mining Rewards are intended to kick-start network effects while providing value to the entire Farcaster ecosystem. Very rapidly we forecast paid 3rd party rewards eclipsing the free rewards as new advertising models and primitives are launched on top of the Moxie Protocol.
The values below represent the % of total supply acqired in that month for rewards
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