Mohammedia – The GOAT Foundation has announced the tokenomics for its native cryptocurrency, $GOATED, designed to support the GOAT Network—a Bitcoin Layer 2 solution utilizing ZK Rollup technology.
The $GOATED token aims to serve as both a governance mechanism and a reward system within the ecosystem. Users can stake or lock their $GOATED tokens to enhance their Bitcoin yield rates and increase their share of rewards, thereby deepening engagement and capital retention.
The total supply of $GOATED is capped at 1 billion tokens. Approximately 10.43% of this supply will be unlocked on the token generation event (TGE) day, making about 104.3 million tokens available for trading. The majority of the token supply is allocated to various sectors within the ecosystem to ensure its growth and sustainability.
Token allocation and distribution plan
A significant portion of the $GOATED token supply is designated for the ecosystem’s mining rewards pool. Nearly 40% of the total supply will be used to facilitate the network’s mining rewards, including sequencer mining, ZK proof verification, and rewards for ecosystem contributors, according to Crypto News.
This allocation underscores the foundation’s commitment to incentivizing active participation and securing the network.
Another 23% of the tokens are reserved for the team, contributors, future employees, key partners, and advisors. These tokens are subject to a 12-month cliff, followed by an 18-month linear vesting period, ensuring long-term alignment with the project’s objectives.
Early supporters of the ecosystem will receive 15.58% of the token supply, also subject to a cliff and vesting period. Additionally, 15% of the tokens will fund the on-chain treasury, aimed at supporting initiatives, liquidity provision, and ecosystem incentives.
Airdrop and community engagement
To foster community involvement and adoption, 7% of the $GOATED token supply is allocated for airdrops. These tokens will be unlocked based on prior snapshots, incentivizing user participation and engagement within the ecosystem.
The foundation has emphasized that the airdrop will be distributed to users who have demonstrated active participation and commitment to the network.
The GOAT Foundation’s approach to tokenomics reflects a strategic effort to build a decentralized and sustainable ecosystem.
By allocating tokens across various sectors, including mining rewards, team incentives, and community engagement, the foundation aims to ensure the long-term success and growth of the GOAT Network.
As the project progresses, further details regarding the token’s utility and governance mechanisms are expected to be revealed, providing the community with more opportunities to participate and benefit from the ecosystem’s development.
Read Also: Metaplanet Buys $632 Million in Bitcoin, Becomes 5th-Largest Corporate Holder
