▪️Tokenomics
Token Types and Utilities
Evire offers two types of tokens: the ERC20 EVIRE token on Ethereum and the native EVIRE token on the Evire mainnet. The ERC20 EVIRE token acts as an IOU token on Ethereum and has been deployed at the following address: 0x7ceEc758dfe5EF8C32cDe7b2259CC79B1891E8ED.
Token holders can swap their ERC20 tokens for native EVIRE tokens after the mainnet launch. This ERC20 token can be freely traded on popular decentralized exchanges (DEXs) and centralized exchanges (CEXs), providing liquidity and helping to bootstrap users from the Ethereum community.
The native EVIRE token, on the other hand, serves multiple roles within the Evire blockchain ecosystem. Besides its trading capabilities, the native EVIRE token is integral to various functions:
Staking. Holders can delegate their tokens to trusted validators to earn passive commission income.
Governance. Token holders can vote on software updates and other crucial community decisions.
Transaction Fees. Used to pay for transaction fees within the network.
Exchange and Swap. The token can be exchanged or swapped in the market.
Token Distribution
The total supply of EVIRE tokens is capped at 800 million tokens, distributed as follows:
Uniswap Launch (45%): 360 million tokens will be added to a liquidity pool on Uniswap, ensuring a fair distribution without any pre-sales.
Development Fund (10%): 80 million tokens will be used for ongoing development and future upgrades of the Evire blockchain, distributed linearly over one year.
Ecosystem Growth (5%): 40 million tokens allocated for project grants, bug bounties, and to attract stakeholders, also distributed linearly over one year.
Community and Marketing (10%): 80 million tokens dedicated to community initiatives and marketing efforts, vested over one year.
Validators Incentives (25%): 200 million tokens will be minted as incentives for validators and delegators, with a six-month cliff followed by a four-year linear release.
Reserves (5%): 40 million tokens reserved for emergency situations, distributed linearly over one year.
Uniswap Launch
45%
360,000,000
100%
No
Ecosystem Growth
5%
40,000,000
0%
Linear for 1 year
Development Fund
10%
80,000,000
0%
Linear for 1 year
Community and Marketing
10%
80,000,000
15.5%
Linear for 1 year
Validators Incentives
25%
200,000,000
0%
Cliff 5 months, then linear for 3 years
Foundation Reserves
5%
40,000,000
0%
Linear for 1 year
Circulating Supply and Controlled Funds
The circulating supply of EVIRE tokens excludes certain funds managed by the Evire team:
Ecosystem Growth Fund, used for ecosystem development, project grants, and bug bounties.
Reserves Fund, a last-resort fund to address unforeseen issues requiring additional funding.
These funds are not included in the circulating supply to prevent staking for passive income or influencing governance. They also ensure the network's bonding rate remains unaffected. Any use of these tokens by Evire must be moved to an intermediate account and accounted for in the network's circulating supply. On Ethereum, these funds are controlled by two multisig addresses:
0x3D35da5a9DE4d84b4F7ED9055AE312221f4412F1
0xb2f97Ebd2A25D77aEec956B9F636Ec24e92f12fE
Validators Incentives
A total of 25% of the tokens, equating to 200 million EVIRE tokens, will be distributed as incentives to validators and delegators over the first 4 years of the mainnet. This incentivization ensures network security and recruiting by encouraging validator participation and preventing fraudulent activities like double-spending. Validators also earn transaction fees (gas) from transaction creators, providing a sustainable incentive model. After five years, validators receive only block rewards.
Block Rewards
Each block on the Evire blockchain rewards validators with 2 EVIRE tokens. Additionally, transaction fees collected from network activities are distributed to validators after deducting a portion that is burned. This mechanism helps to control the token supply and incentivize network participation.
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