INTRODUCING RUBIC’S NEW TOKENOMICS - THE WAY FORWARD
Rubic, a Cross-Chain Tech Aggregator, has updated its tokenomics in December 2022, and this has been supported by a governance vote.
Token utility RBC
The Rubic token serves as fuel for Rubic’s ecosystem and has the following token utility:
- SDK subscriptions & Integration service fees in RBC
- Grant programs for SDK integrators will be covered in RBC
- Governance: Token holders can participate in decentralized decision-making.
- Low fees for RBC holders: Cut costs of cross-chain calls, exchange fees, and gasless fees.
- Distribution of partners’ airdrops to RBC holders
TOKEN SUPPLY AND LOCK PERIODS
The new RBC token will be created on Ethereum (ERC-20) and listed on Uniswap V2.
The total supply to be minted in December 2022 is 176,000,000 RBC (it includes 159M which are already in circulation and 17M for retrodrops/marketing).
More RBC can be minted in the next few years (2024+) for additional marketing, partners, VCs, and ecosystem growth. The Max supply that can potentially be minted as per the new contract is 1,000,000,000 RBC. Emission dates are not set and are to be decided separately, if and when one is necessary. No other emission on top of 176M is planned in 2023.
The system of locks and vesting periods would help to prevent token price dumps (see the slide below for details).
Token Lock Periods
New emissions, if they take place, will be subject to airdrops to holders (7% of each new minting, called the Loyalty program). It vests monthly over 36 months, and starts 1 year after TGE.
The total supply of 176M RBC, which is to be minted in December 2022, is also subject to a 7% retrodrop of 13M RBC to old RBC holders. It will be unlocked 6 months after TGE, with 25% being vested every 3 months during the year, to mitigate the risk of a price dump.
The 2022 airdrop is to be based on the following criteria (which are to be finalized later):
People who’ve held RBC/BRBC/wRBC tokens for the past 18,12, and 6 months will receive the airdrop with an increasing ratio depending on the length of time which they have held RBC.
People who’ve participated in Staking V3 will get an airdrop with an increased ratio.
People who’ve participated in Rubic Birthday Events and claimed the Rubic NFTs.
See all the details on Rubic’s new path right here: https://medium.com/@cryptorubic/introducing-the-new-rubic-tokenomics-the-way-forward-abca6cf11d8d