Token Metrics are an important aspect of token economics and play a key role in aligning incentives within the project’s ecosystem amongst early supporters, community participants, external clients, and the core team.
Over the last few weeks, Wallfair has been working closely with our trusted partners to re-evaluate its tokenomics model based on best practices and Wallfair’s requirements. The objective was to create strong token imperatives that captured the value of the ecosystem in the EVNT token, aligned the Wallfair ecosystem with development milestones, and created an attractive vesting schedule that would incentivize different stakeholder groups.
We are happy to announce the finalization of our new economic model in preparation for TGE; however, in order to implement these changes, we have had to alter the terms and reimburse some of the early contributors to the project.
In this article, we would like to address the new token economic structure, elaborate on the reasons behind the changes and explain how this new structure will enable us to establish a more scalable and thriving Wallfair community.
Key Changes
Circulating Supply: Based on detailed modeling of average bet sizes, growth projections, expected user experience, and various other factors, we have increased the total token supply from 400 million to 1 billion EVNT.
Fundraising Structure: The fundraising strategy has now been split into three primary rounds in order to accommodate different types of contributors:
- Seed: Early-stage strategic contributors providing long-term value to the project.
- Private Sale: Venture Capital firms, influencers, and key strategic partners bringing substantial value beyond mere capital allocation.
- Public Sale: Launchpad participants, specifically loyal community supporters, as well as early users of the Wallfair platform — whitelist allocation, will be based on the highest performing users from our MVP Event (more info shortly).
Regulatory: As a prediction market platform, Wallfair is built on a sound regulatory foundation enabling scalability and mass-market adoption. Therefore, it was mandatory to revise our legal structure and only accept financial contributions from those individuals who satisfied legal and compliance standards.
Token Price and Vesting Schedules: The token price and vesting schedules (both for contributors and the Wallfair team) have been carefully adapted to align incentives across all Wallfair stakeholders, based on the project milestones.
A full breakdown of the token metrics can be seen here:
Implications for Seed Investors
The previous tokenomics for the seed sale were based on a total token supply of 400 million EVNT tokens. In order to realize the highest value-creation potential for all Wallfair stakeholders, we have had to cut back by diluting the seed share and extending the vesting schedule, bringing it in line with the incentives created for the Private and Public contributors.
The majority of our seed contributors understood the reasons for these changes and have continued to support us in our vision to make prediction markets more social.
Nevertheless, we made sure to respect all of our contributor’s opinions and took steps to fully reimburse those participants who did not wish to accept the new terms. Those who requested a reimbursement received their original contribution back to their original wallet — no questions asked. Eligible participants who were reimbursed after reviewing the new seed terms will still have the opportunity to participate in the Public Sale through the MVP whitelisting event (more information to follow on this shortly).
In some cases, we have been forced to reimburse early-stage contributors on legal grounds, as Wallfair needed to remain fully compliant to satisfy regulatory requirements and protect the rest of the community.
Integrity and transparency are at the heart of Wallfair’s values, which determine the core tenets of the ecosystem we are building. Thus, by providing a clear overview of the situation, we hope to demonstrate that all decisions were taken with our community’s best interests at heart. With this, we are now prepared to accelerate the growth of the Wallfair ecosystem and unlock value for all those who will join us on this exciting journey.
To reiterate, our main objective has consisted of ensuring sufficient funds for platform development, marketing, user acquisition, and ecosystem development whilst maintaining a healthy token economy. We hope that this has become clearer, and we encourage every reader who might still have questions or doubts to reach out and to send us their inquiries by email to hello@wallfair.io.
We thank you for your continued support and we look forward to sharing more exciting news with you all!
About WallFair
WallFair is a cutting-edge Prediction Market built by industry veterans and designed for the masses. By leveraging scalable Blockchain Technology, while ensuring simplicity and entertainment are at the product’s core, WallFair is able to create a highly dynamic and socially engaging platform that’s ready to tap into the global market in a unique fashion. In addition, through an intelligent incentive structure, WallFair presents an attractive model for anybody to earn revenue through multiple streams — guaranteeing product longevity.
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