Tokenomics

Overview

Ticker: $JLY

Token contract devnet: 0x9e7A8e558Ce582511f4104465a886b7bEfBC146b

Token contract mainnet: 0xDD7d5e4Ea2125d43C16eEd8f1FFeFffa2F4b4aF6

Coinmarketcap: https://coinmarketcap.com/currencies/jellyverse/

Coin Gecko: https://www.coingecko.com/en/coins/jellyverse

JLY Token overview

JLY serves as the primary governance and utility token for the Jellyverse ecosystem. JLY Stakers enjoy the privilege of participating in critical decision-making processes and influencing key parameters across a multitude of protocols and decentralized applications (dApps) within Jellyverse. As a unique utility, a part of fees generated across all protocols will be distributed to JLY Stakers.

Utility of JLY:

• Governance

• Revenue Share

• Collateral for jAssets

• Liquidity Mining

• Staking

Token Allocation

The total supply of JLY is fixed at 800 million JLY tokens. 70.08% of the total token supply is allocated to the community over time, while 29.92% of the tokens have been allocated for the initial development, long-term growth, and future success of Jellyverse.

Detailed Overview

Block Rewards (54.63%): The largest share of tokens of 437,383,634 tokens are allocated for community rewards through block rewards. This allocation serves as an incentive for all protocols within the Jellyverse, such as Jellyswap, Jellystake, and jAssets.

Airdrop (11.25%): The second-largest allocation of 90,000,000 tokens is earmarked for airdrops. Airdrops are used to distribute tokens to new users and to enhance the adoption and decentralization of JLY.

Investors and Partners: Investors have been allocated 73,131,641 tokens (9.14%), and partners have received 54,554,000 tokens (6.82%). Investors provided the necessary capital for development, while partners contributed to development, marketing, and strategic partnerships to ensure the long-term growth of Jellyverse.

Jelly Labs (6.87%): The initial development entity, Jelly Labs, holds 55,000,000 JLY tokens.

Advisors (1.25%): Jelly Labs will reserve an allocation of 10,000,000 JLY tokens for advisors who are willing to become official Jellyverse ambassadors.

Marketing (3.13%): Jelly Labs is allocated 25,000,000 JLY tokens for marketing purposes.

Team (2.7%): The team is allocated 21,594,391 tokens.

Pool Party (Launch Event) (4.17%): To establish initial liquidity, 33,333,334 tokens will be made available during the Pool Party Event, with 50% distributed to participants and the other 50% locked as protocol-owned liquidity on Jellyswap.

Vesting Period: All tokens allocated to investors, partners, advisors, Jelly Labs, Team** & marketing* are vested for a 24-month period with a 6 month cliff. This means that the tokens will be gradually unlocked, to mitigate negativ price impact. Tokens in Vesting are also in Staking, with linear unvestings counting as half the duration. This means that positions with 24-month vesting and 6M cliff are equivalent to a 15-month position. *For marketing, 10.000.000 JLY tokens will be excluded from the vesting period, to facilitate market making, community incentives & other marketing related expenses. **The team allocation is fully restricted (100% nerf), with no votes or rewards.

Block Emission and Reward Mechanics

Block rewards will be minted according to a predetermined inflation curve and distributed weekly. The calculation will be done off-chain, using chain data, and then confirmed through a governance proposal. It will determine the per protocol allocation, and then for each protocol the per user allocation. For the DEX each pool has its own percentage wise allocation, and the rewards for individual users are allocated pro rata based on the LP token holdings. For staking the rewards will be distributed pro rata based on voting power gained through staking.

Initially, a share of ~656,567.55 JLY will be distributed per day, tapering off according to the factor $e^{-0.0015n}$. This share is determined by the initial allocation of rewards to the protocols, which will be published shortly before the TGE. Once Jellyverse is fully deployed, governance has full control over the emissions.

The theoretical cap of 800,0000,000 JLY tokens is insured by capping the rewards at a maximum of ~54.7%, which equals 437,383,634:

$$T_{Reward}= \sum\limits_{n=1}^{i}656567.5476719800e^{-0.0015n}$$

$$\sum\limits_{n = 1}^{\infty} 656567.5476719800e^{-0.0015n} = 4.37383*10^8$$