GEAR token contract and distribution information.
GEAR token is an ERC20 utility token, starting off as a governance token for the protocol - and then possibly taking any other new function the DAO could envision for it. The supply of GEAR is capped at 10,000,000,000 (10 billion) which can't be technically changed. See that in source code.
GEAR supply has been split according to a handful of contributor groups:
- Credit Account Mining: 5%. Mined by 5,000 participants in the ceremony. No vesting.
- Retroactive rewards for 2021: approximately 0.5% [with 0.041% repurposed for other activities]. No vesting. See the address. As we set on to a few stages of the community distribution, we expected technical difficulties with some claimants. Instead, community members performed on-chain sleuthing an a good portion of GEARs was saved. This was decided to be used as a retroactive LP + CA GEAR reward program. This is from where the drop for testers and discord users happened, and remaining used for repurposed activities.
These are some amazing people who have contributed to the technical development but weren't committing capital, yet we wanted to incentivize them to work further. Lockup: 12 months since token deployment (launch), and then linear vesting over 18 months starting after the cliff.
Initial core members 20% (usually referred to as "team" but here the DAO took over during the launch time, so that naming wouldn't make sense). Lockup: 12 months since token deployment (launch), and then linear vesting over 18 months starting after the cliff.
Initial contributors 9.20% (usually referred to as "investors" but here they were all forced to put a lot of time, so that naming wouldn't make sense - see at the bottom of the page for details). Lockup: 12 months since token deployment (launch), and then linear vesting over 12 months starting after the cliff. See their contributions and work over 2021 clearly here:
Company wallet lockup: 12 months since token deployment (launch), and then linear vesting over 18 months starting after the cliff. Address: 0xa8b1d00b1d224e83760963e361b7f676581a622d. This is outside of the scope of the DAO, and can be used for discretionary activities. This is a company that kickstarted the first protocol development pre-DAO launch. Not related to the DAO. Keep in mind that some of those reserves were used to onboard new pre-DAO contributors, auditor engagements, external work performed before the DAO was established, etc.