neonewstoday.com
Neobox has released the token economic model for the NEOBOX NEP-17 token, which is currently in the community sale (aka pre-sale) phase. The NEP-17 NEOBOX token will be used to pay for services, reward content creators and collaborators, offer access to exclusive features, and crowdfund game development.
Neobox recently soft-launched its Dropbox-like app, a user interface that lets users upload and access files stored on Neo’s distributed storage network, NeoFS. Alongside its storage services, Neobox hosts mini-games (i.e., Snake, Tetris) and apps (i.e., NeoDoc word processor).
The NEOBOX token model has a couple of allusions to the Neo ecosystem, including a total supply of 100,000,000 (like that of the NEO token) and a dual-token model. NEOBOX tokens are slated for use to access advanced services and features, and GAS is used to pay for basic network operations on NeoFS. The NEOBOX tokens are planned to be distributed accordingly:
- Community Sale: 7 million tokens (7%)
- Private Sale: 13.5 million tokens (13.5%)
- Team and Founders: 21 million tokens (21%)
- Community & Ecosystem: 43 million tokens (43%)
- Rewards and Incentives: 12.5 million tokens (12.5%)
- Advisors: 3 million tokens (3%)
Once the private and community sales conclude, the Neobox team intends to contribute 40% of the funds raised to liquidity pools across various custodial and non-custodial exchanges that list the token. At the time of press, NEOBOX is tentatively slated to list on the MEXC exchange, with two others in the works.
The team has also identified plans for how the remaining 60% of raised funds will be allocated. A total of 25% of the token supply is earmarked for team allocation for operational expenses such as salaries, administrative costs, and daily operational costs. Another 20% of funds raised is intended to go toward community and ecosystem development for activities such as promotional activities and strategic partnerships. The final 15% is planned to be spent toward platform development and technological enhancements.
Vesting and Unlock Schedule
The token sale has been divided into two categories: community sale and private sale. The community sale is underway and has amassed approximately 411 bNEO, 27 GAS, and 33 NEO at the time of press.
The vesting schedule for the community sale is noted to have two tracts, depending on the order in which the contributions were made. Neobox has stated that the first 50% of contributors will receive all their NEOBOX portion upon the beginning of the token generation event. The second half will receive 25% of their allocation at the TGE and 75% over the next six months.
Private sale contributors are planned to begin receiving NEOBOX immediately at the TGE, with distributions made over a three-year period. At the time of press, it is unclear how much NEOBOX these contributors will receive in the initial batch, and how often additional amounts will be released over the course of the following three years.
The team, founders, and advisors will begin receiving their allocation of NEOBOX six months after the TGE and spread out over 4.5 years.
Lastly, ecosystem rewards and incentives are planned to begin six months after the TGE and spread out over a 4.5 year timeframe.
The Neobox team notes that the current distribution plan represents the first version of the economic model. It stated, “While this outline provides a comprehensive overview of the planned allocation and unlocking phases for NEOBOX tokens, the team reserves the right to make minor adjustments to this model as necessary. These adjustments will be aimed at optimizing the token distribution strategy in response to market conditions, regulatory considerations, and community feedback.”
The full outline of the NEOBOX token economic model can be found at the link below:
https://neofs.neobox.world/BhVHSgTRZeuZgGAM8bwmJhGC5R6tvDp4zGX7KDMcGHCH/G12J14x53K978DNRzx8qnYKhncPzZQcHXYNXiej5jreo