As stated in our tokenomics documentation, 20% of the Total Token Supply will be allocated to Token Rewards for traders. In this article, and taking into consideration the “Proposal on Further Tokenomic Details,” which included the implementation of Trading Rewards for pre-TGE users, we will provide a comprehensive overview of how these rewards are calculated and will be distributed.
TL;DR
- 20% (100M tokens) of the total token supply of 500M allocated for rewards.
- EMDX token distribution is based on epochs, each of which lasts 60 days.
- Trading Rewards are distributed at the end of every epoch.
- Trading Rewards Epochs start with the General Vesting Schedule on July 15th, 2023, with distribution starting on September 13th, 2023.
- “Pre-TGE Epochs” cover the trading period before the TGE, from June 20th, 2022, to June 20th, 2023.
- Pre-TGE Epochs are divided into 2-month periods, with rewarding distribution starting on July 30th, 2023, bimonthly for 12 months.
- Each Pre-TGE epoch has a Token Release of 1.5% based on the third quartile according to the volume-ratio formula.
Calculation
The calculation for the reward is based on the value-ratio formula, which is detailed in our documentation. According to the mechanism:
Tokens will be subject to a General Vesting Schedule based on a volume-ratio formula that measures the volume quartile scored by the EMDX platform within a group of decentralized exchanges comprising the top 100 DEX according to the CoinMarketCap Ranking for Decentralized Exchanges (the “EMDX’s Vesting Formula”) during the prior 60-day period (the “Scoring Epoch”).
Up to 4.5% of the 20% allocated tokens may be distributed among traders based on the Rewarding Formula: Trader Score = Trader's Volume / Total Volume.
This means that out of the total token supply of 500M, 20% (100M tokens) is allocated for rewards. These rewards will be distributed in bimonthly epochs, with each epoch lasting for 60 days.
Trading Rewards Epochs
The Trading Rewards after TGE will commence simultaneously with the General Vesting Schedule, which begins on July 15th, 2023. Each epoch will last for 60 days, and at the end of each epoch, the distribution of trading rewards will take place.
Pre-TGE Trading Rewards
In September 2022, the EMDX Governance System approved the “Proposal on Further Tokenomic Details.” The proposal emphasized the importance of backdating Token Rewards to the EMDX launching date (June 20th, 2022), ensuring fair rewards for pioneers who have actively participated in trading on EMDX since its mainnet launch.
Since the EMDX protocol launched on Mainnet on June 20th, 2022, prior to the TGE, we did not have a live token on the mainnet, which prevented us from distributing the rewards at that time. To address this, we have divided the time into periods referred to as “Pre-TGE” Epochs, with each epoch lasting 2 months.
Here are the backdated Pre-TGE Trading Rewards:
The pre-TGE rewards distribution will start on July 30th, 2023 and it will be done bimonthly, meaning there will be distributed over 12 months.
The distribution for each Pre-TGE epoch will be based on the Tokenomics distribution outlined in our documentation. The average daily volume during these periods placed us in the third quartile, which corresponds to a Token Release of 1.5% for each epoch.
Since day one, our commitment has been to ensure fairness in rewarding all of our users for their support and participation. We highly value the trust and commitment you have placed in the EMDX protocol. We will soon provide you with more upcoming dates and details as we continue to prioritize transparency and foster a community that is both rewarding and reciprocal. Stay tuned for further updates!
Thank you,
The EMDX Team.
