Initial Distribution
KODO initial distribution details
Last updated
KODO initial distribution details
Last updated
Kodo is committed to a 100% community-driven token distribution: no pre-sales, no venture capitalists or other investors. Therefore, there will be no significant token unlock events after launch. (2 key protocol metrics will be displayed in real time: the $veKODO lockup ratio and the average lockup duration.)
The initial supply of $KODO is 400M, with 360M (90%) locked for 4 years in the form of $veKODO, and the remaining 40M (10%) allocated as liquid $KODO.
Initially, 15% of the initial supply will be airdropped as $veKODO to potential supporters within the Taiko ecosystem, including:
Kodo testnet users
Loopring community members
The airdrop has concluded (from Epoch 0 to Epoch 3), and the unclaimed KODO have been burned here.
Kodo will establish the Drum Guild as a catalyst for the growth of the Taiko and Kodo ecosystems. The Drum Guild will receive 20% of the initial supply (80M $veKODO).
These $veKODOs will be used to vote and direct the protocol’s reward distributions towards the most critical liquidity pairs for the Taiko ecosystem, such as WETH/USDC and WETH/TAIKO.
All accumulated rewards from voting will support the most vital projects and builders within the Taiko ecosystem through Public Goods Funding (PGF). We plan to actively communicate with Taiko Labs and consider their advice, aligning with their Retrospective Public Goods Funding (RPGF) approach. We will meticulously design this program and share more details in the future.
Until the PGF program is finalized, accumulated trading rewards will incentivize the ecosystem's core trading pairs (in the form of bribes).
40% of the initial supply is dedicated to supporting and incentivizing protocols and users that positively contribute to the Kodo flywheel, including projects that provide bribe incentives to liquidity pools, protocols, and users locking $veKODO, and trading pairs with significant volume. On a monthly basis, $veKODO will be distributed to contributing protocols and users:
40% of the rewards are distributed proportionally to projects providing bribe rewards to liquidity pools.
40% of the rewards are distributed proportionally to protocols and users holding $veKODO.
20% of the rewards are allocated to project teams providing trading pairs, based on the proportion of trading fees generated by those pairs.
More details coming soon.
Kodo Exchange's mission is to become a native liquidity public good on Taiko, a goal that cannot be achieved without Taiko's support. Kodo will allocate 10% (40M) of the initial supply in the form of $veKODO to Taiko Labs, inviting them to co-govern Kodo Exchange and share in the protocol's reward income.
5% will be permanently voted towards trading pairs that include $KODO, supporting the Kodo Exchange protocol in maintaining healthy liquidity.
5% (20M) in the form of $KODO tokens will be reserved as incentives for voting participation.
Upon launch, Kodo will not provide initial liquidity for project trading pairs. Instead, we will allocate $KODO bribes (up to 10M) to any liquidity pool that accepts bribes, distributed in proportion to the amount of the bribe.
The distribution of the remaining $KODO will be determined based on the initial weeks' performance. Unused $KODO will be reserved for future marketing campaigns and incentives.
2% (8M) in the form of $KODOtokens will be directly added to the Genesis Liquidity Pool (KODO/WETH) upon the protocol's launch.
Kodo Exchange will use its voting rights in the initial weeks to direct 10%-15% of the rewards towards the KODO/WETH pool, providing ample incentive for the community to supply WETH liquidity to this pair. This serves as an excellent opportunity for early participants to engage in Kodo's positive flywheel effect.
3% (12M) in the form of $KODO tokens are allocated to the core contributors of Kodo Exchange, with a six-month lock-up period ($veKODO) followed by a six-month linear release ($KODO). This ensures that the individuals who have played pivotal roles in the development and success of the platform are appropriately rewarded for their contributions.
