🪙Tokenomics
*Subject to change*
BANG is a utility token whose value grows with network usage.
Supply
Initial Supply: 100M BANG
Public Sale (60% of supply)
Raising $60k in a fixed-price ICO at an FDV of $100K
Whitelist eligibility based on Twitter/X account
50% of Public Sale's tokens are staked immediately upon purchase
50% of Public Sale's tokens are fully unlocked when sale completes
25% of raised funds ($15k) paired with 15% of the initial supply for $30k of initial liquidity
75% of raised funds ($45k) goes to a treasury governed by decision markets. An $8k allowance per month goes to the team for operations. Any other treasury transactions must be approved by decision markets.
Liquidity (15% of supply)
Paired with raised funds in a Meteora DAMM v2 liquidity pool
Locked unless a portion is being used for decision markets
Team (10% of supply)
Unlocked in 20% tranches at 30-day TWAPs of 5X, 10X, 20X, 30X, and 100X the ICO FDV
Staked as they unlock with 20% effective earning power
Private Sale (10%)
Unlocked in 20% tranches at 30-day TWAPs of 5X, 10X, 20X, 30X, and 100X the ICO FDV
Staked as they unlock with 20% effective earning power
Raised from Colosseum and angels
Early Users (5%)
Mostly staked
Effective airdrop to early users that contributed to the network as we iterated the product
Emissions
To bootstrap the network, new BANG is minted daily to the Rewards Pool (90%) and the Jackpot (10%), rewarding top curators, creators, and inviters. Emissions start at 100K BANG (0.1% of the initial supply) on the first day and decrease by 100 BANG everyday, until emissions reach 0 in 1,000 days (~2.75 years). At which point rewards become totally funded by fees. Max Supply: 150M BANG.
Bangit's treasury, liquidity pool, emissions, and max supply are governed by Combinator's futarchy-based decision markets, so that BANG's tokenomics are decentralized yet dynamic. Anyone can create a proposal at anytime.
Demand
Bangit creates value through utility, status, and entertainment. BANG is how that value is priced and competed for. Every core action in Bangit either locks or burns BANG.
All value captured by Bangit flows to the official BANG token. Bangit does/will not accrue value to any other asset (equity, token, or otherwise).
Why BANG?
Currently, the best curators create massive value, but capture none of it. Platforms take ad revenue. Creators farm engagement. But the people who create signal in a noisy world get nothing.
BANG is a utility token that grants rewards, clout, and influence for curating higher-signal content feeds. More voting/burning -> better feeds -> more utility/status/entertainment value -> more voting/burning.
Staking
Staking BANG is required to get meaningful value from Bangit. A daily-increasing Time Multiplier compounds this value over time.
Max Power = 100 + (Staked BANG * Time Multiplier)
Time Multiplier (Max 5) = 1 + (0.01 × Days Staked)
Reward Boost (Max 3) = 1 + ((Max Power - 100) / 1000)
Unstaking BANG has a 1-10% fee, which decreases as Time Multiplier increases. Unstaking BANG decreases Max Power and Reward Boost immediately, while the unstaked tokens unlock gradually over 7 days.
Fees
Fees are paid in staked BANG. With all BANG fees: 50% is burned, 40% goes to the Rewards Pool, and 10% goes to the Jackpot. The Rewards Pool (from fees and emissions) is distributed every 24 hours at midnight UTC to top voters, authors, and inviters. At the same time, the Jackpot has a 7% chance of being distributed to top voters.
Voting
Currently, voting with >10% of Max Power requires committing some staked BANG. Above 10% conviction, every 1% of Max Power commits 0.05% of your staked BANG. Post-TGE, this buffer will be removed so that all votes require committing staked BANG.
In Multicoin's framework, BANG is a work-style utility token. Contributors stake to earn the right to do work (curate tweets) and earn rewards, while poor performance is penalized.
Claiming without staking
Users that opt to claim rewards to their wallet instead of auto-staking incur a 20% fee on the claimable tokens.
Unclaimed Rewards
10% fee on unclaimed rewards every 7 days left unclaimed.
Unstaking
1-10% fee to unstake, which decreases with more time staked.
Delegation
10% fee on rewards earned from delegated power.
AI Discover
Get curated tweets from a personalized AI agent trained on your second-degree following graph (who your favorite accounts follow).
API
Access Bangit programmatically: bangit.xyz/skill.md
Ads
Pin a tweet to the 4th spot on the Hot feed.
Slashing
Bangit uses analysis tools to detect and slash cartels. If you move as a pack, you will be slashed.
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