Token Release Schedule (Update)

Introduction

This article explains $ID tokenomics and release schedule with additional transparency. The $ID token circulating supply is affected by an issuance schedule, user development fund, enterprise fund, and reward & burn mechanisms.

Token Release

It was determined that the token release for the Team, Strategic Partners, Advisors and Consultants will be pushed to January of 2023. Additionally, the period of release will be extended to 3 years. Make no mistake that the Team, Strategic Partners, Advisors and Consultants believe in the long-term viability of the community and ecosystem.

Originally, the plan was to begin the release of the aforementioned tokens on August 1, 2021, which was six months after the IDO. And those tokens were set to be released monthly, over two years. On August 4, 2021, it was announced that the unlock must be extended one year, to August 2022. Per the above the release is moving out and extending over a longer period.

Additionally, it was determined by the community vote in 2021 that (a) 15M $ID tokens will be set aside for 15 billion human beings, 0.001 $ID/person, reducing the total supply to 785M, and (b) there is a reward and burn mechanism, which will further reduce token supply over time.

Token Distribution

Over the next three years, the vested tokens will be unlocked and the figure below provides more detail on the schedule.

Exact numbers of the circulating supply are not available because they are subject to technical governance including platform transactions and burning.

Tokenomics

Please refer to the previously published summary for further details around the tokenomics.

The initial vote closing on December 19, 2021 dictated the initial tokenomics model with all fees paid in $ID and 50% of fees burned. Additionally, validators are guaranteed a rate of 32% if staked for a year. Over time, as transactions increase on the network, validators will earn 10% rewards or more/less depending on the community vote. The background on governance and rewards can be found here.