Tokenomics & Utility
A well-structured tokenomics model is crucial to the success and sustainability of any blockchain-based project. In this section, we delve into the token distribution, the various uses of tokens within the Galileo Protocol ecosystem, and the details of the initial coin offering (ICO) and token sale.
Overview of the Token Distribution
The Galileo Protocol token distribution is designed to allocate tokens fairly among different investors, ensuring the project's growth and development are well-supported. The distribution is as follows:
The Galileo Protocol will issue 150 million LEOX tokens, with an initial circulating supply of 28.9 million tokens. The token distribution is broken down as follows:
Early Investor Round 1: 1 million tokens for $0.0600 per token, with a release of 60% (600,000 tokens) at initial release and vesting over 12 months with a lockup of 3 months. Capital raised: $60,000.
OTC Sale August 2022: 467,399.80 tokens for $0.1500 per token, with a release of 5% (23,370 tokens) at initial release and vesting over 24 months with a lockup of 3 months. Capital raised: $59,896.
Seed Round: 707,343 tokens for $0.1000 per token, with a release of 5% (35,367 tokens) at initial release and vesting over 20 months, starting 3 months after listing. Capital raised: $70,734.
Private 1: 399,576 tokens for $0.15 per token, with a release of 10% (39,958 tokens) at initial release and vesting over 16 months, starting 3 months after listing. Capital raised: $59,936.
Private 2: 76,438 tokens for $0.20 per token, with a release of 20% (15,288 tokens) at initial release and vesting over 12 months, starting 3 months after listing. Capital raised: $15,288.
Public Sale: 702,307 tokens for $0.250 per token, with a release of 50% (351,154 tokens) at initial release and the rest received in 7 days after a lock-up for 7 days. Capital raised: $175,577.
VC Reserve Tokens: 1.5 million tokens reserved for future VC sale (TBD).
Reserve Liquidity Pool: 240,000 tokens (0.16%) locked and reserved for liquidity.
Future Liquidity: 7.26 million tokens (4.84%) are locked and reserved for future liquidity.
Staking Rewards: 41.6 million tokens (27.76%) allocated for staking rewards, with 10% released at initial release and vesting over 36 months with quarterly lockup periods.
Galileo Advocates Program: 12 million tokens (8%) allocated for the Galileo Advocates Program, with 20% released at initial release and vesting over 24 months with monthly lockup periods.
Galileo Learn to Earn: 16.5 million tokens (11%) allocated for the Galileo Learn to Earn program, with 20% released at initial release and vesting over 24 months.
Ecosystem Treasury: 25.5 million tokens (17%) allocated for the Ecosystem Treasury, with 20% released at initial release with quarterly lockup periods for 2 years.
Galileo Treasury: 12 million tokens (8%) allocated for the Galileo Treasury, with 20% released at initial release and vesting over 18 months with monthly lockup periods.
Team & Advisor: 30 million tokens (20%) allocated for the team and advisors, with 10% released at initial release and vesting over 30 months after a 6-months lock-up.
Use of LEOX within the Ecosystem
LEOX serves as a utility token in the Galileo Protocol ecosystem and serve multiple purposes, which include:
Users participating in the verification process and contributing to the accuracy and trustworthiness of pNFT metadata will receive token rewards.
LEOX will serve as the payment method for covering fees associated with cross-chain transactions and asset transfers within the marketplace.
Token holders can gain discounts on trading fees, access new NFT launches, and participate in fair voting on protocol decisions
Staking LEOX allows users to lower transaction fees, earn rewards, and participate in governance.
The Galileo Protocol implements two coin-vault mechanisms to reduce the total available supply of $LEOX by 25% in the long term
Galileo aims to deploy a DAO-like on the blockchain that will enable LEOX stakers to exercise governance over the protocol
Overall, the LEOX token plays a crucial role in the Galileo Protocol ecosystem, serving as a means of payment, reward, and governance. By offering various incentives and benefits to token holders, Galileo Protocol encourages active participation and community engagement, promoting the growth and development of the platform. Implementing the coin-vault mechanisms and deploying a DAO-like system further enhance the security and stability of the LEOX token, ensuring its long-term viability and value.
Use of Nebula within the Ecosystem
The Nebula pNFT collection serves as a community token that provides several benefits to its holders. These benefits include:
Access to exclusive events: Nebula pNFT holders will have priority access to exclusive events hosted by Galileo Protocol, providing them with unique opportunities to engage with the community and learn about new developments.
Discounts: Nebula pNFT holders will receive discounts on Galileo Protocol products and services, providing them with cost savings and added value.
Beta launch access: Nebula pNFT holders will have early access to beta launches of new Galileo Protocol features and services, allowing them to test and provide feedback before the general public.
VIP whitelist: Nebula pNFT holders will be added to a VIP whitelist, enabling them to receive priority treatment and access to Galileo Protocol offerings.
Access to tokenisation platform: Enterprises can use the Nebula pNFT collection to access Galileo Protocol's B2B tokenisation platform, allowing them to authenticate their luxury goods and track them through their supply chain.
Overall, the Nebula pNFT collection serves as a valuable utility token for the Galileo Protocol community. It provides exclusive benefits and opportunities to its holders while enabling enterprises to access the platform's tokenisation services.
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