Self Chain Tokenomics
Self Chain's SLF tokenomics: Fueling a secure, user-friendly Web3 future.
Painting the picture
Self Chain is a groundbreaking Modular Intent-Centric Access Layer1 blockchain and keyless wallet infrastructure using MPC-TSS/AA technology for enhanced multi-chain Web3 access. It streamlines the user experience with LLM-powered intent interpretation, simplifies onboarding and asset recovery with keyless self-custody wallets, and incentivizes dApps for efficient user intent resolution. By integrating Account Abstraction with MPC-TSS, Self Chain offers secure transactions and lowers fees, improving the security and ease of blockchain interactions.
The Value of Thoughtful Tokenomics
Creating a strong and lasting blockchain isn't easy. It takes a lot of hard work, especially when it comes to making tokenomics that are fair and make sense. In this blog, we're going to break down the SLF token's tokenomics, explaining why they were set up the way they were. We want to show you how careful planning in tokenomics is key to building a blockchain that not only works well but also stands the test of time.
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The SLF Token
At the heart of Self Chain lies the SLF token, the driving force behind this network. The SLF token serves multiple functions within the Self Chain network, making it a versatile asset with real utility:
- Gas Fees: SLF tokens are used to pay for transaction fees on the Self Chain blockchain. This ensures that the network remains efficient and accessible.
- DPoS Validator Staking: SLF holders can actively participate in securing the network by delegating their holdings to validators or running their own validator nodes.
- Governance: SLF holders have the opportunity to engage in future governance decisions.
- Native Collateral: SLF tokens can be utilized as native asset liquidity or collateral within applications built on the Self Chain.
- Fee Markets: Users can incentivize validators with SLF tokens to prioritize their transactions, creating a dynamic and efficient fee market.
- Trading Fees: SLF tokens can also be used as trading fees on exchanges built within the Self Chain ecosystem.
Token Allocation: A Thoughtful Distribution
The total supply of SLF at Genesis is 360 million tokens.
A fair and transparent token distribution is essential for any blockchain project's success. Self Chain's SLF token allocation is designed to ensure inclusivity and fairness:
- Migration Allocation (25%): This allocation allows certain token holders to seamlessly migrate their tokens to SLF on the Self Chain, ensuring a smooth transition.
- Equity Investor Allocation (10%): Early supporters of Self Chain are recognized through this allocation, acknowledging their role in the project's growth.
- Validator Node / Growth Sale (28%): Self Chain seeks to expand its validator network, inviting reputable names to enhance network decentralization.
- Ecosystem (19%): Ecosystem initiatives are nurtured through grants and incentives, promoting meaningful contributions to the Self Chain project.
- Foundation Nodes (10%): A set of foundation nodes will be run by Self Chain Foundation to ensure stability and functionality at the blockchain’s genesis.
- Team (8%): A portion of SLF tokens is allocated to the Self Chain team and core developers to support long-term research, development, and ecosystem initiatives.
Token Release Schedule
Self Chain’s 360 million SLF token supply at Genesis will be subject to several different unlock schedules. All tokens, locked or unlocked, may be staked.
Unlock schedule by category is described in the table below:
| Category | Total Tokens | Terms | Monthly Vesting |
|---|---|---|---|
| Migration Allocation | 90M | No Lock | No Vesting |
| Equity Investor Allocation | 36M | 0% release on mainnet launch and then 12 months cliff and then monthly vesting for 24 months | 1.5M |
| Validator Node / Growth Sale | 100M | 0% release on mainnet launch and then 6-month cliff and then monthly vesting for 12 months | 8.3M |
| Ecosystem | 68M | ~20% release on mainnet launch and then monthly vesting for 36 months | 1.51M |
| Foundation Nodes | 36M | Permanent locked vesting, where coins are locked forever. | Locked |
| Team | 30M | 0% release on mainnet launch and then cliff for 12 months and then monthly vesting for 60 months | 0.5M |
Notes: 28.8% of the total supply will be released at TGE, ~103.6M SLF. 90M from Migration Allocation, 13.6M from Ecosystem Allocation. So that, 3.78% new tokens will be emitted on TGE.
The Ecosystem allocation is the only one that is released on the Self Chain Mainnet launch and will be used for:
- Ecosystem Initiatives will be distributed via grants and incentives to contributors, and builders, contributing to or building meaningfully on Self Chain.
- Exchange Listing and Liquidity.
- Incentivized Testing Rewards.
Final Thoughts
The SLF tokenomics of Self Chain embody the project's core values. It's a testament to the commitment to decentralization, support for the developer community, and the unwavering dedication to the community that stands beside Self Chain on this remarkable journey. With a focus on creating a high-performance blockchain that simplifies Web3 UX, Self Chain is poised to leave a lasting impact on the blockchain landscape.
As Self Chain continues to evolve, so too does its potential to shape the future of blockchain technology. Stay tuned for more updates and innovations from Self Chain, where the possibilities are limitless.
About Self Chain
Self Chain is the first Modular Intent-Centric Access Layer1 blockchain and keyless wallet infrastructure service using MPC-TSS/AA for multi-chain Web3 access. The innovative system simplifies the user experience with its intent-focused approach, using LLM to interpret user intent and discover the most efficient paths.
Self Chain ensures that onboarding and recovery are effortless with keyless wallets that grant users complete self-custody over their assets. In addition, it provides automated rewards to dApps when they efficiently resolve user intent, further enhancing the user experience. Moreover, Self Chain incorporates Account Abstraction with MPC-TSS to provide secure signing and reduce transaction fees. It's a platform that redefines blockchain interaction, making it more secure and user-friendly for everyone.
In a world where blockchain technology is becoming increasingly essential, the user experience remains a critical factor in its adoption. Intents and Keyless Wallets are set to transform the landscape, making blockchain interactions more accessible, efficient, and secure. As we move forward, the blockchain industry has the opportunity to provide users with a seamless and enjoyable experience, unlocking the full potential of this groundbreaking technology.