$SPACE and SpaceDAO
The Space is the first large-scale blockchain experiment that brings together NFT pixel art, Radical Markets principles, co-creation pixel map, and DAO.
One of the core components of The Space is decentralization and self-sustainability. The Space will be managed and operated by SpaceDAO, which will gradually take over the ownership and governance of The Space.
SpaceDAO will decide on economic parameters such as the Harberger Tax rate, UBI ratio, canvas size, as well as the use of the Community Treasury. Though a completely decentralized governing will take time to develop, as we continue to develop The Space, we believe it is time for us to introduce the token $SPACE, the token of The Space.
$SPACE is a standard ERC-20 token that people can get by claiming Airdrop or Fairdrop, completing community publishing tasks, or by buying directly from a Decentralized Exchange (DEX). $SPACE will be used to support the economic activities in The Space such as buying and selling pixels, paying tax, receiving UBI, as well as supporting the operation of SpaceDAO.
Total Supply and Allocation
In total, all 1 billion $SPACE tokens will be created at genesis. The distribution is as follows:
1. Early Community Incentives (13.74%)
13.74% of the $SPACE tokens will be distributed to addresses that positively contribute and impact The Space in the early stage.
Initial Airdrop (2%)
The first airdrop will distribute 2% of the $SPACE supply. This airdrop is targeted toward people who:
- Participate in the tests of The Space at PoC (proof of concept) stage and Testnet.
- Contribute actively to The Space community.
- Contribute actively to the Matters Lab community, including Matters.news, and Traveloggers.
Future Airdrops (3%)
An allocation of 3% of the $SPACE supply will be held in reserve for future airdrops. The second airdrop will be a fairdrop to reach out to more potential users who will be interested in The Space and promoting this project. It will start after the project launch.
Early Stakeholders (8.74%)
The remaining 8.74% will be under a 12-month linear unlock to incentivize various stakeholders who contribute to The Space's growth, development, and expansion in the first year. These will be early active creators, contributors, advisors, developers, partners, etc.
2. Community Fund (66.26%)
66.26% of the $SPACE tokens will be allocated to the SpaceDAO. 5% of this allocation will be available to the SpaceDAO at launch, while the remaining will unlock over 4 years and be administered over time by the SpaceDAO.
SpaceDAO is encouraged to allocate these tokens towards community-focused initiatives to help the development and growth of The Space, such as grants, hackathons, partnerships, and more.
The allocation dedicated to the Community Fund will be divided into:
- Community Treasure & Resources
- Creators and Contributors Fund
3. Liquidity Pool (5%)
The first trading pair of $SPACE will be on Uniswap. 2% of $SPACE will be available for trading on Uniswap at the project launch. 5% in total will be available to the public for purchase in the first year.
4. Matters Lab Team (15%)
The Space is initially powered by the Matters Lab team. The team will also contribute to The Space to ensure its success. 15% of the $SPACE tokens will be allocated to the Matters Lab team. All tokens will have an initial lock-up of 12 months, then a 24-month linear unlock.
4-Year Circulating Supply
The chart below shows the gradual increase of the circulating supply as tokens unlock.
We’ll be opening the first round of the airdrop claim process very soon. We are going to publish another article in a few days to detail how the airdrop works. More information about the upcoming airdrop, liquidity on Uniswap, fairdrop, and updates about The Space are on their way.